Climate Change Projected to Disrupt Chemical Industry Production
Beyond requiring mitigation steps, climate impacts will also drive structural changes to industry production.
Climate-related hazards are poised to disrupt the chemical industry and have already caused hundreds of millions in damage globally. In a recent report, “In the Path of Destruction: Preparing for Climate Change in the Chemical Industry,” Lux Research outlines steps chemical companies need to take to adapt to the threats that climate change poses to the industry.
“Increasing levels of CO2 from human-made sources will amplify climate-related risks for the chemical industry,” said Kristin Marshall, lead report author and senior research associate at Lux. “Coastal storms, inland flooding, extreme temperature, and drought will all have wide-ranging consequences. Serious impacts will include damage to capital assets, disruptions to transport and raw materials availability, and impacts on labor productivity and safety.”