The 2024 Sustainability Through Collaboration Report

Sharing data

Chemical supply chain leaders face tough challenges around sharing data with key stakeholders in their efforts to reduce carbon emissions. Forty-six percent of respondents said data silos remain their biggest challenge. With so many incompatible systems stretched across all functions, chemical manufacturers are struggling to access data in a standardized format which permits accurate and timely sharing.

Implementing circular business models

In their efforts to reduce waste and minimize carbon emissions, many are implementing circular business models. Once successfully integrated, circular business models will be key value creators, lowering the costs of materials through recycling and decreasing energy consumption. According to our research, 84 percent of organizations surveyed are either developing a circular business model, or plan to implement one in the next two to five years.

Lack of proper infrastructure

A lack of proper infrastructure, tracking emissions and a reluctance to share data are just some of the challenges chemical manufacturers face in their collaboration efforts. Effective collaboration in this space requires total buy-in from all stakeholders, transparency, and a willingness to work together for future thinking. According to our research, this is something the industry is struggling with, and further progress is an absolute must.