SABIC: GCC chemical industry must focus on decarbonization

During a speech at the Gulf Petrochemicals and Chemicals Association (GPCA) Annual Leaders Forum held in Dubai recently, Yusuf Benjan, Vice Chairman and CEO of Saudi Basic Industries Corporation (SABIC), said that Gulf Chemical industries in the Cooperation Council (GCC) region must realign their business and operating models to achieve decarbonization and recycling goals and overcome fundamental structural challenges
.

Bunyan said: “Achieving decarbonisation targets is more critical for GCC chemical companies than for other manufacturing sectors in the economy, as the chemical industry itself is a decarbonisation tool for the region’s national oil companies
.
We must start from a more strategic perspective.

He believes that GCC Chemical can solve these problems by focusing on talent and technology, and must adopt a global open policy to attract and retain top talent and create a sustainable and competitive talent pool
.
Chemical companies in the GCC region are currently mainly technology users

SABIC published its carbon neutrality roadmap last year and set out a decarbonisation plan to achieve the same amount of decarbonisation of operations by 2050, in line with the Paris Agreement targets