Theme: Accelerating the race to Net-Zero
Industry sector emissions, including those from energy-intensive industrial sectors like steel, cement, aluminium, aviation, and shipping, account for roughly 30 percent of global CO2 emissions.
In order to reach the target of the Paris agreement – to limit global warming to “well below” 2 degrees Celsius, these sectors will have to drastically reduce emissions by working on pathways towards net-zero emissions by 2050. It is essential that businesses, policymakers, and civil society work together to advance comprehensive near and long-term climate actions.
ETC’s 2018 Mission Possible report outlines how this is technically possible and at a relatively small economic cost, however, building a zero-carbon economy will require public and private collaboration, spearheaded by coalitions of the ambitious. The international collaboration between countries and industry groups is critical to establish workable policy frameworks and incentives and to enable joint investment into low carbon infrastructure.