Chemical Industry Embracing Sustainability, Study Shows

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23rd September 2014 11:41 - Chemicals

The majority of companies in the chemical industry have embraced sustainability, according to a recent survey conducted by Genomatica and ICIS.

Of the 958 respondents who were included in the study, three in 10 (31%) said promoting or marketing sustainable products were in the their top business priorities in terms of sustainability, with around one fifth (18%) stating taking an active lead on sustainability issues and engaging sustainability-conscious customers at a business level were among their key considerations.

A further one in 10 (10%) said the ability to respond to questions about their position on sustainability was a top business priority, with marginally less (9%) saying they would be focusing on raising the public profile of sustainability.

However, just over one in 10 (11%) said sustainability was not a priority in their company. The remaining 2% responded with “other.”

When questioned on the level of interest they had received from customers in sustainably produced chemicals, around two fifths (44%) said interest levels had “stayed the same.” One quarter (26%) stated they were “slightly greater now” and one in 10 (10%) said interest levels for sustainably produced chemicals were “much greater now.” However, one fifth announced interest levels had decreased - 13% said they were “slightly lower now” and 7% said “much lower now.”

Furthermore, three in 10 (31%) of the companies surveyed said they were already offering more sustainable versions of chemicals, a further one in seven (14%) plan to offer more sustainable products within the next year and more than one quarter (27%) intend to offer more sustainable versions in the next one to two years. In contrast, 13% said they do not plan to offer more sustainable versions, with the remaining one sixth (16%) unsure.

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