Businesses must navigate evolving regulatory landscapes, technological advancements and shifts in consumer behavior. The continued integration of digital technologies—including artificial intelligence—will revolutionize manufacturing operations, leading to increased efficiency and reduced environmental impact. However, this transformation will require significant investment in infrastructure and workforce skills training. Meanwhile, geopolitical tensions and supply chain disruptions will continue to pose ongoing risks that the industry must mitigate through strategic planning and diversification.

Over the next decade, the world will continue to change to advance a sustainable future, and the chemical industry, with its knowledge, people and skills, must help lead the transformation.

As the world strengthens its focus on sustainability both with regards to products and regulation, how is the chemical industry being impacted and what steps can it take to adapt to this emerging reality?

Discussions around sustainability are occurring from board rooms to dinner tables. Dow’s commitment to sustainability and climate protection is holistic, considering both climate change mitigation and climate adaptation, while still putting growth front-and-center.

Of course, an all-of-the-above approach will be needed in the transition to net-zero carbon emissions. Hydrogen and carbon capture are critical components in decarbonizing our industry’s emissions. The energy transition requires infrastructure that does not exist today, making investment and policies to de-risk development critically important.

Meanwhile, the chemical industry is being impacted by stricter environmental regulations and increasing consumer demand for sustainable products. To adapt, companies must invest in greener technologies, enhance their supply chain transparency and collaborate with stakeholders to develop sustainable solutions.

Our approach includes new targets for water and nature. For instance, we are implementing a robust land management strategy, developing water stewardship plans and partnering to conserve habitats. By integrating sustainability into our business models, we can achieve long-term growth while contributing to global environmental goals.

In this new world, companies are being urged to find new opportunities for growth and reinvent their business model in order to stay successful. How is Dow approaching this and what are some of the long-term growth areas you’re seeking to capture?

Dow has a roadmap to deliver a more than USD 3 billion increase to our underlying earnings by 2030 while reducing greenhouse gas emissions by 5 million metric tons and commercializing 3 million metric tons of circular and renewable solutions annually. This includes investing in new assets and replacing end-of-life assets with high-efficiency, low-emission assets. For example, we recently started construction on our Path2Zero project in Alberta, Canada, which will create the world’s first ethylene and derivatives complex with net-zero scope 1 and 2 emissions. We expect that project to deliver approximately USD 1 billion of incremental EBITDA annually, before even considering the upside from commercializing low- to zero-emission products.

We also announced plans to deploy small modular nuclear technology—the first of its kind—to deliver safe, reliable, low-emission power and steam production at our Seadrift operations site in Texas. These and other clean energy initiatives are part of our long-term Decarbonize & Grow strategy.

Additionally, we are expanding our presence in emerging markets, leveraging digital technologies to enhance customer experiences and developing new products that meet the evolving needs of our customers. By staying agile and responsive to market trends, we can capture new growth opportunities and drive sustainable success.

How do you see trends, such as circular economy and energy transition, evolving in the coming years? What role can the chemical industry play to accelerate the transformation rather than be hindered by it?

The transformation from a linear to a circular economy and the energy transition will be key drivers for the future of the chemical industry. Dow is advancing the circularity of its products by designing them for recovery, reusability, recyclability and by using recycled and renewable feedstocks. We have also launched a line of fully circular plastic solutions and are collaborating to expand our global capabilities to make new plastics from plastic waste.

For the chemical industry as a whole, there is an opportunity to lead this transition through innovation and engagement. On innovation, using plastics sustainably and responsibly requires designing them with circularity in mind. This means developing high-performance plastics that use fewer raw materials while maximizing durability, reusability and recyclability. On engagement, collaboration with governments, NGOs and other industries will be essential to create a supportive ecosystem for these initiatives. Industry must play a leading role in shaping these discussions rather than being shaped by them.

As a long-standing player with joint ventures and operations across the region, what are Dow’s plans in the GCC?

Dow has been present in the Middle East for more than half a century, delivering a broad range of technologies to our local customers across packaging, building and construction and energy end-markets. We are committed to creating new products and solutions that address the unique challenges of this equally unique region. For example, we are leveraging our expertise in low-emission technologies and sustainable solutions to support the region’s economic and environmental goals. Our partnerships and collaboration across the GCC are crucial for our global strategy, and we are committed to continuing to contribute to the region’s development.

We are investing in advanced manufacturing facilities, collaborating with local universities and research institutions and supporting community development initiatives. By aligning our efforts with the region’s vision for sustainable growth, we will create long-term value for our stakeholders and contribute to the prosperity of the GCC.