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Petrochemicals could be made with almost no carbon emissions if the industry invests an extra $759bn (£604bn) by 2050, according to a new report from research firm BloombergNEF (BNEF).
Following the success of the circular economy Extended Resource Ownership (ERO) model for manufacturing, developed by IEMA’s Circular Economy Network Steering Group in 2021, the group has initiated a new project to develop an ERO model for the construction sector.
The number of companies with emission reduction targets or commitments approved by the Science Based Targets initiative (SBTi) doubled to a record 2,253 last year, representing more than a third of global market capitalisation (US$38trn).