Readiness key takeaways Technology 3 –CCUS, chemicals recycling, bioenergy, renewables and hydrogen usage are all in the demonstration stage (TRL 7) with CCUS and chemicals recycling being the most mature (TRL 8).467 –Electrification is in the prototype stage (TRL 5).468 Infrastructure 2 –CO2 capture capacity is projected to grow to 52 Mt by 2030, a significant increase from 4 Mt in 2022.469 –Current capacities are insufficient, as less than 1% of CCUS infrastructure and clean power infrastructure required by 2050 is available for the industry. Demand 2 –Less than 2% of low-emission primary chemicals are currently being produced.470 –The green premium for primary chemicals is estimated at 55%471 for manufacturers on average and 1-3%472 for end user products. Capital 2 –Over $6.5 trillion473,474 additional cumulative investments are required by 2050, out of which 60% are expected towards green ammonia, 27% towards green methanol and 9% towards waste management. –Currently, the chemicals sector has an annual CapEx of $86 billion.475 Policy 2 –Policies promote the increased use of clean hydrogen to replace fossil fuels in chemical production, mitigate chemical pollution risks, set emissions reduction targets, minimize plastic waste and enhance recycling technologies. Sector priorities Company-led solutions Mid-term (by 2030) –Implement material efficiency measures. –Retrofit existing facilities to use clean hydrogen for ammonia and methanol production.Long-term (by 2050) –Execute major retrofits to ethylene and polyethylene production plants to increase capacity and reduce emissions. –Create facilities that convert captured CO2 into methanol. Ecosystem-enabled solutions Mid-term –Work on waste market access and waste flow orchestration. –Develop the infrastructure needed to produce and distribute clean hydrogen and other clean fuels.Long-term –Invest in dedicated CO2 capture and storage capacity. –Digitize the value chain and disclose key environmental system data. –De-risk large-scale financial investment. Net-Zero Industry Tracker: 2024 Edition 3

Net Zero Industry Tracker 2024 Primary Chemicals