An increase in cloud droplet number concentration resulting from an increase in ambient aerosol (and subsequent albedo increase) is typically identified as the first indirect (or "Twomey") climatic effect of aerosols [Twomey, 1974]. A key question is whether chemical effects (dissolution of soluble gases and slightly soluble substances, surface tension depression by organic substances and accommodation coefficient changes) could potentially rival changes in droplet number from changes in aerosol number concentration. We assess the sensitivity of cloud droplet number concentration to such chemical factors, using a cloud parcel model. We find that numerous conditions exist, for which chemical influences on cloud droplet activation can indeed rival the Twomey effect.