Solvay Submits Report on Energy Transition Ahead of COP30

Collaborative Efforts to Accelerate Energy Transition

The COP30 Energy Transition Task Force, chaired by Solvay, has developed a report in collaboration with McKinsey & Company. The report aims to highlight urgent policy demands and scalable solutions to accelerate the energy transition. Solvay, as the chair of this unique cross-sector task force, has worked with companies such as CMPC, Engie, Equinor, ExxonMobil, Microsoft, Suzano, Vale, and WEG. The group emphasizes that the private sector can contribute up to 30-40% of global emission reductions through energy efficiency, renewable energies, and sustainable fuels.

Advocating for Clear and Stable Policy Frameworks

The published report calls for the establishment of clear and stable policy frameworks to unlock investments in low-carbon technologies. It also recommends accelerating the financing of energy efficiency, electrification, and renewable energies, as well as supporting mature technologies that can have an immediate impact. The report advocates for tailored strategies for sectors such as chemicals, steel, and cement, including technologies like carbon capture and storage (CCUS) and clean hydrogen.

Solvay's Contribution to the SB COP30 Initiative

Solvay has contributed to the SB COP30 initiative by providing several case studies illustrating concrete decarbonization actions in its global operations, including process innovations like e.Solvay and biocircular silica, as well as the development of a carbon-neutral portfolio in the Americas. The SB COP30 project, led by the National Confederation of Industry (CNI), is a global coalition encompassing over 40 million businesses in more than 60 countries, representing 77% of the global GDP. It aims to demonstrate how industrial innovation can promote significant climate advancements.