According to the European Chemical Industry Council (Cefic) article published on March 14, 2023, the chemical industry has an ambition to transition towards a safe, resource-efficient, and circular economy in a climate-neutral Europe. This aligns with the core objectives of the EU Green Deal and is crucial for meeting the Sustainable Development Goals (SDGs). Yet how do we monitor the industry’s progress in sustainable transition?
That’s where Cefic’s Sustainable Development Indicators (SDIs) come in. These indicators have been created to collect quality data, which can set a benchmark for future performance. We first started collecting data on the industry’s activities in four key areas: creating a low carbon economy, conserving resources, moving towards a circular economy, and caring for people and planet. In 2023 we have also added another set up indicators: economic prosperity and competitiveness as activities in this area also contribute to the overall sustainability agenda by creating a healthy business environment, generating new jobs and investments into research and innovation.
Cefic started the Sustainable Development Indicators project in 2020 with the aim to increase the transparency around our industry’s sustainability progress and determine whether we are moving at the right pace. Since 2022 it has become an annual exercise to report our findings, as well as integrate them into Cefic’s annual Facts & Figures report.
