The lubricant industry’s position astride the chemicals and hydrocarbons industries puts it in the sights of lawmakers around the world for the current wave of regulations, in Europe at least, aimed at promoting a circular carbon economy and sustainable products.
Lawmakers, regulators and standards agencies across the world are driving the transition to a low-carbon economy through a raft of policy initiatives. These policies will likely add pressure on base oil refiners, additive companies and lubricant blenders to disclose their operations’ carbon emissions and what risks they face from climate change.
European Union Taxonomy
The European Union places sustainability at the center of its objectives. Over the years, the EU has enacted many directives to support that aim. One of its major programs is the Taxonomy Regulation.
Free Lube Reports
The regulation was introduced in mid-2020 and standardizes the classification of 70 designated sustainable economic activities. It is part of a large package of climate-related laws called the Green Deal, which supports the bloc’s target of net-zero carbon emissions by 2050.