It’s fair to say that the economic outlook is top of mind — and a concern for everyone. It seems certain that we are set for a downturn or recession in most parts of the world, with no soft landing from current volatility and further interest rate rises likely as authorities battle to keep inflation down. This is borne out in the recently published KPMG 2022 CEO Outlook (PDF 622KB), in which 86 percent of leaders believe there will be a recession in the next twelve months — even if 58 percent expect it to be mild and short.

While the immediate outlook may contain some risk, I remain convinced that the medium-term outlook for the global chemicals and materials industry is bright and that the 2020s will be remembered as a decade of incredible transformation in the industry.

In this edition of Reaction Magazine, we have an in-depth feature on the global economic outlook, featuring insights from several of our member firm economists; a very topical exploration of what makes an ERP transformation work; a detailed examination of the decarbonization agenda through the lens of the EU’s ’Fit for 55’ initiative; and a fascinating feature interview with Bernard Skeete, Vice President, Global Controller and PAO at Trinseo.




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