May 9, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--One theme dominated Industrial Info's webinar held this week on the global Chemical Processing Industry: the rise of spending for environmental, social and governance (ESG) initiatives. In Wednesday's presentation, Trey Hamblet, Industrial Info's vice president of research for the Chemical Industry, discussed the outsize role that the quest for greener commodities is having on the industry.

Hamblet noted that there is $840 billion in Chemical Industry spending planned for 2024 and 2025 that has been given a high or medium probability (70-99%) of moving forward as planned. This represents a $343 billion increase over the prior two-year period, and Hamblet pointed to an influx of projects with an ESG component as being a significant driver in this spending growth.