(Thursday 14th November) Responding to the launch of the UK Alliance for Sustainable Chemicals and Materials, Penny Fowler, Head of Corporate Climate Campaigns at ShareAction, said: "It's encouraging to see this new alliance committing to advancing sustainable solutions that reduce dependency on fossil fuels across the chemicals sector. With a globally significant carbon footprint, this sector has a critical role to play in transitioning our economies to net zero in line with the Paris Agreement.

"For this to be a success, we need to see the industry go further by setting out a clear path towards fossil-free chemical production, delivering on commitments by transitioning to non-fossil feedstocks and using energy from renewable sources.

"Investors understand the sector's critical role on the path to net zero – they want to see both companies and governments working to deliver a timely and orderly transition to prevent the risk of fossil fuel lock-in and stranded assets. Decarbonising the chemicals industry is key to building a safer future for us all."