Our inaugural conference, The Chemical Summit occurred October 24th – 25th, 2023 in The Woodlands, Texas. In a special edition of The Chemical Show, host Victoria Meyer shares highlights from the first day of the Summit which focused on thought leadership, building connections, and gaining insights in the chemical industry.
Exploring the themes of transformation, sustainability, and ESG, speakers emphasized the need for personal and business transformation, the challenges of achieving sustainability goals, and the importance of continuous improvement in creating value. Join Victoria as she shares insights from industry leaders and encourages listeners to transform their businesses and embrace sustainability.
Victoria Meyer discusses the insights shared by industry leaders at The Chemical Summit, including:
- Insights on the biggest challenges chemical companies face today
- If you want your business to transform, YOU as a leader need to transform. (Megan Gluth-Bohan, CEO of TRInternational on transformational leadership)
- True change takes decades. The chemical industry will success in sustainability by evolution not revolution. (Brad Beauchamp, CEO of Carpenter Co., Evolution not Revolution: The Path to Sustainability)
- The chemical industry is currently producing thousands of circular products, they’re just not marketing them as circular. (Kelly Gilroy of Univar Solutions in The Path to Sustainability is Not (Only) Circular panel discussion)
- ESG investing only works when companies are creating profits and value (Jonas Oxgaard of McKinsey in The Path to Sustainability is Not (Only) Circular panel discussion)
- ESG is all about culture and value – your company culture and values (Terry Hill of Barentz in a Fireside Chat about ESG).
Highlights from Day 1 of The Chemical Summit 2023
2. The Pressure to Achieve Sustainability: Both audience polls and discussions during the conference revealed that there is low confidence within the chemical industry regarding achieving sustainability goals. The industry faces immense pressure to decarbonize and achieve greater sustainability. Brad Beauchamp emphasized the need for a stepwise evolution rather than expecting revolutionary changes. He reminded the audience that monumental, fundamental changes take time, and continuous improvement through evolution is often more practical and effective.
3. Evolution, Not Revolution: Building upon Brad Beauchamp’s insights, the conference stressed the importance of setting targets and evolving towards sustainable practices. The chemical industry should strive to be future-ready, using innovation and continuous improvement to achieve circular, sustainable, and better ways of operating businesses. This approach allows for step-by-step progress and ensures a smoother transition towards sustainability. Rather than seeking instant transformations, the industry must embrace evolution and adaptation.
4. Adapting and Creating Value: The episode also highlighted the industry’s responsibility to adapt and respond to challenges while creating value. It is essential for industry participants to tell their own stories and showcase the progress they are making. This includes addressing the multitude of pressures facing the chemical industry and demonstrating how businesses are actively responding. By continuously finding better ways to operate sustainably and creating value, companies can contribute to the industry’s overall growth and success.