Page 161 - CW E-Magazine (26-3-2024)

News from Abroad

PARTNERSHIP
Air Liquide & Vopak to develop of ammonia-hydrogen

supply chain in Singapore

French industrial gases major, Air gen pipeline network. This
Liquide, and Dutch tank storage com- collaboration aims to sup-
pany, Vopak, have signed a Memoran- port Singapore’s National
dum of Understanding to collaborate on Hydrogen Strategy.
the development and operation of infra-
structure for ammonia import, cracking Mr. Rob Boudestijn,
and hydrogen distribution in Singapore. President of Vopak Singa-
pore said, “As Singapore
The two firms will study and explore gears up for receiving and
the joint development of low carbon handling ammonia for power
ammonia supply chains in Singapore, generation and bunkering,
including the potential development cracking of ammonia into
of ammonia cracking facilities, asso- hydrogen presents an addi-
ciated ammonia storage and handling terminal, and the distribution of tional application to help industry
infrastructure at Vopak’s Banyan low-carbon hydrogen through a hydro- shift to lower carbon feedstock.”

SUSTAINABILITY SURVEY
‘More consumers now look to repair and recycle

products to help environment’

The rising cost of living and consu- products are not only helping them to 2023 (28% in 2021) intend to buy second-
mers’ commitment to a more sustainable reduce costs and avoid unnecessary hand or previously owned products.
lifestyle has meant there is now no purchases, but also allowing them
shame in buying second-hand items or to stay true to their values and adopt Regional trends
repairing broken goods to extend their sustainable lifestyles.” According to Euromonitor, recycling
life, according to a Euromonitor expert. and repairing habits are the most preva-
Mr. Zuniga said embracing recycling lent in Latin America, Europe and Asia
As per the ‘Euromonitor International is particularly important for Gen Z and Pacific. While the second-hand market is
Voice of the Consumer: Sustainability Millennials. More than 40% of younger more developed and widely available in
Survey 2023’, 24% of global consumers consumers opt for second-hand shopping Europe and North America, the real pulse
buy second-hand products to lead a every few months, while more than 50% of consumer engagement beats in Asia
more sustainable life, while 41% choose of 15-44 years plan to purchase a second- Pacific, the Middle East and Africa. India,
to repair broken items instead of buying hand item in the near future. China, and Saudi Arabia lead the charge,
new ones. Mr. Jorge Zuniga, Senior not only embracing second-hand goods
Sustainability Insights Consultant at “Younger generations choose to repair but also signalling strong intentions to
Euromonitor International, said, “The items and shop second-hand mainly increase spending in this market. 42%
rising cost of living is pushing consumer due to costs. As Gen Z are now the most of consumers in India, 34% in China and
behaviours towards sustainable practices financially pressured, second-hand is a 30% in Saudi Arabia intend to increase
as alternative cost-effective solutions. great way to get stylish and buy even pre- spending on second-hand products in the
Actions such as turning off heating, mium garments at reasonable prices,” he next 12 months. Almost 50% of consu-
reducing food waste, opting for more said. Repairing products is more impor- mers in India buy and sell used items, while
fuel-efficient mobility options, reducing tant to the older generations, many more in the UK consumers prefer to buy second-
appliance use, preparing meals at home, of whom have become environmentally hand products (38%) rather than sell
repairing items and buying second-hand active. Some 40% of 45-60+ consumers in them (28%).

Chemical Weekly March 26, 2024 161

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