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Fresh from the press: Sustainable and circular business models for the chemical industry

Carbon neutrality means taking a new perspective of the chemical industry. Sustainable and circular business models for the chemical industry – Circular economy playbook for chemical companies is a playbook for chemical companies that have an ambitious approach to combatting climate change. The playbook serves as a tool for creating new sustainable business models. It approaches carbon neutrality through five future business models and several company examples.




“The playbook provides essential information on how a chemical company can make its operations more sustainable, and in the process, open completely new business opportunities. Companies are taking the climate challenge seriously, and many chemical companies engaged in developing the playbook within a short time period”, says Rasmus Pinomaa, Chemical Industry Federation of Finland’s project manager for the carbon-neutrality programme Carbon Neutral Chemistry 2045.

“The enthusiasm of chemical companies engage in the project is an indicator not only of the commitment of companies, but also of the need for further information and collaboration across value chains. The playbook is a good start to this”, says Marika Ollaranta, head of Business Finland’s Bio and Circular Finland programme.

Business profitability is an essential precondition for corporate climate investment. Therefore, sustainable business models are the foundation of carbon neutrality. The playbook supports companies in evaluating their operations and provides tangible guidance on creating new business models.

“It is wonderful that the industry is taking the goal of carbon neutrality seriously, and that is indeed what consumers expect. However, the necessary leaps forward in development cannot be made without adequate investments and a change in business models. Circular economy innovations that systematically drive this change require tools and support, especially during and after the coronavirus crisis”, says Jyri Arponen, senior lead for carbon-neutral circular economy at the Finnish Innovation Fund Sitra.

“The chemical industry plays an important role in enabling sustainability and circularity in other industries. It is great to be able to support chemical companies with enabling the transition”, says Michael Gylling, senior manager at Accenture.

The Sustainable and circular business models for the chemical industry – Circular economy playbook for chemical companies can be downloaded free of charge here:

The chemical industry aims to achieve carbon neutrality by 2045. Many chemical companies have also set more ambitious company-specific carbon neutrality targets. A report on possible technologies to reduce emissions was published in January ( A roadmap for carbon neutrality will be completed in June. In October 2020, a study will be completed on the skilled personnel that chemical companies need to achieve carbon neutrality.

The Sustainable and circular business models for the chemical industry – Circular economy playbook for chemical companies is a guide for sustainable business development commissioned by the Chemical Industry Federation of Finland, Business Finland and the Finnish Innovation Fund Sitra. The playbook is based on the chemical industry and Sitra’s Europe-wide work to promote the circular economy and Sitra’s Circular economy playbook for manufacturing companies. The playbook was developed by Accenture together with the following Finnish chemical companies: FP Pigments Oy, Kiilto Oy, Molok Oy, Oy Orthex Group Ab, ST1 Oy, Sulapac Oy, Teknikum Oy, Teknos Oy, Wiitta Oy, and the startup accelerator Smart Chemistry Park.



Rasmus Pinomaa
Carbon Neutral Chemistry 2045 project manager, the Chemical Industry Federation of Finland
+358 40 586 3705,

Jyri Arponen
Senior lead, Finnish Innovation Fund Sitra
+358 (294) 618 491,

Marika Ollaranta
Bio and Circular Finland programme director, Business Finland
+358 50 480 4611,

Sonja Ulma
Specialist, Communications, the Chemical Industry Federation of Finland
+358 44 340 7020,

Business Finland is a Finnish public operator that provides innovation financing and internationalisation services and promotes tourism and investment in Finland. The organisation employs 600 experts in 40 locations around the world, and 16 locations in Finland. Business Finland is part of the Team Finland network.

Finnish Innovation Fund Sitra is an active future-oriented organisation that studies, explores and involves partners from different sectors in open-minded experiments and changes. The focus of the organisation’s future-oriented work is a Finland that thrives as a pioneer in sustainable wellbeing.

The chemical industry is one of the most important industrial sectors in Finland. It accounts for approximately one-fifth of industrial production and exports of goods. The industry employs almost 100,000 people in Finland directly, indirectly and through income effects. The industry’s own self-regulatory programme, Responsible Care, has been operational in Finland since 1992.

The industries that are considered part of the chemical industry in Finland are the chemical process industry and the manufacturers of oil products and other chemical products such as pharmaceuticals, cosmetics, detergents, paints, plastics and rubber products.

The Chemical Industry Federation of Finland is a trade and labour market policy trade association for the chemical industry and its associated sectors that promotes the competitiveness and operating conditions of the industry in Finland. The federation has almost 400 member companies and 13 member and cooperation associations.