Session Details

Can Carbon markets help the petrochemical industry along the pathway to Net Zero?

Tuesday, 21 March

11:15 am - 11:55 am (CST) / 21/mar/2023 04:15 pm - 21/mar/2023 04:55 pm
Carbon markets have long-struggled to find acceptance as a method of decarbonisation, but they have seen renewed interest as companies have escalated the drive towards Net Zero, particularly in hard-to-abate markets like the petrochemical sector. However, there are still outstanding questions around how carbon markets can play a role in decarbonisation, as well as concerns that they allow buyers to potentially prolong emissions-heavy activities in favour of less-impactful offsetting. Further, given the centrality of nature-based solutions in the Voluntary markets in particular, are they truly a vehicle for good in underserved, developing communities, or could the demand for offsets spark a new crisis in these regions at the expense of local communities?
  • The Petrochemical Industry is widely considered a “hard to abate” sector. Can carbon markets be the answer?
  • Why does purchasing “local” matter when offsetting carbon offsets? How do avoidance credits differ from removals?
  • What role can carbon markets play in the management of Scope 1 and Scope 2 emissions in the Petrochemical industry? What about the oil & gas industry?
  • How can buyers reckon with outstanding concerns around carbon leakage, credit integrity and project permanence?
Session Speakers