Apu Gosalia examines a turning point in sustainability and describes how recent events may affect not just the environment, society and the economy but also companies operating in the lubricants industry.
Until the 17th Century, the four-element theory was decisive for chemistry. According to this doctrine, all matter consisted of the four basic elements—earth, water, air and fire—in certain proportions. In the context of sustainability, though, they also symbolize four events and decisions—which took place within four months and four days between December 19, 2022, and April 22, 2023—that are of great significance to today’s sustainability conversation.
These events and decisions have ushered in a turning point in sustainability, with a potentially fundamental impact on the environment, society and the economy, including companies in the mineral oil, chemicals and finished lubricants segments.