Only fractions of global heavy industry are aligned with Paris climate goals
(EurActiv, 19 Feb 2021) Only 14% of publicly listed companies in the steel, cement, aluminum, paper and mining sector are on track to meet the Paris Agreement’s 2°C climate target, according to a report by the Transition Pathway Initiative (TPI), a global investor group supported by the UN. Still, some European companies offer hope, EURACTIV Germany reports.
Industrial decarbonisation is probably the biggest challenge of the European Green Deal, which aims to reduce Europe’s emissions down to net-zero by 2050.
In a study published this week, the independent capital-owner-led TPI assessed mining companies and manufacturers of paper, steel, cement and aluminum from around the world to find out whether they are aligned with the climate goals of the Paris Agreement.
The result: 95 out of the 111 large publicly-listed companies studied (86%) are failing to align with a pathway to 2°C or below by 2050.
Of the 111 companies in global heavy industry surveyed, only 16 are well on track to revising their own production processes in such a way that they could meet the requirements of a climate-neutral future.
Overall, only 14% of them are on track to meet the international treaty’s 2°C warming target.
While heavy industries are generally considered difficult to decarbonise, the pace at which new ways to reduce emissions are being tested and implemented is too slow, the report warns.
“Whilst it is concerning that so few industrial companies are ready it is clear that new industrial processes based on circular economy principles give us a tipping point of technically viable, economically attractive solutions,” said Adam Matthews, co-chair of TPI.
External link
EurActiv, 19 Feb 2021: Only fractions of global heavy industry are aligned with Paris climate goals
More Related News
EU industrial strategy
26 Apr 2024: Europe’s net-zero industry law will do little for manufacturing ambitions, experts say
26 Apr 2024: Researchers urge Europe to ’embrace’ deindustrialisation
18 Apr 2024: France unveils 55 ‘turnkey’ sites for clean industry
18 Apr 2024: Explainer: The EU’s Green Deal Industrial Plan
2 Apr 2024: Large electrical heat pumps can be key to decarbonising Europe’s industry
19 Mar 2024: New fiscal rules need to support Europe’s industrial ambition
23 Feb 2024: In Antwerp, European industry kicks off fight for its future
30 Jan 2024: Industrial pollution costs 2% of Europe’s GDP: EEA
30 Nov 2023: EU reaches agreement on reducing industrial emissions
15 Sep 2023: Von der Leyen outlines ‘next phase of European Green Deal’, with heavy industry focus
8 Sep 2023: US hydrogen rules could decide fate of EU’s electrolyser industry
21 Aug 2023: ‘We are facing dependence on China’: EU battles to support green industry
21 Aug 2023: Sparking Europe’s new industrial revolution
18 Jul 2023: Parliament adopts position on EU’s green construction product rules
11 Jul 2023: Parliament to vote on groundbreaking EU ‘compensation right’ against pollution
9 Jun 2023: Parliament could scrap ‘strategic’ clean tech label in Net-Zero Industry Act
9 Jun 2023: Net-Zero Industry Act: Will the EU defend its industry?
30 May 2023: What’s the beef? Vote on industrial farming emissions splits EU Parliament
26 May 2023: Industry will be driver of European decarbonisation, French minister says
22 May 2023: After the energy storm, Europe needs strong industrial strategy
5 May 2023: How the EU can get its Net Zero Industrial Act right
25 Apr 2023: What does the EU’s Net Zero Industry Act mean for Chinese renewables firms?
24 Apr 2023: The US Inflation Reduction Act can spur a green race to the top
11 Apr 2023: Macron visits Netherlands to push for massive EU investment plan
28 Mar 2023: Paris plots response to von der Leyen’s ‘unfortunate’ comments on nuclear
24 Mar 2023: Industrial policy: Will the EU have the money to finance its ambitions?
21 Mar 2023: EU’s Net-Zero Industry Act sends ‘positive signal’ for nuclear, advocates say
20 Mar 2023: Green industry: ‘Buy less Chinese’ instead of ‘buy European’
17 Mar 2023: EU’s Net-Zero Industry Act aims to bring home clean tech production
17 Mar 2023: EU takes first step to ensure green technologies are made in Europe
17 Mar 2023: Recommendations for the EU’s Green Deal Industrial Plan
17 Mar 2023: Germany welcomes EU plans to lead global shift to climate-neutral industry
14 Mar 2023: EU’s Breton: Joint debt for green transition no longer a priority
7 Mar 2023: LEAK: Brussels targets 40% of clean tech manufacturing in Europe by 2030
7 Mar 2023: How to design Europe’s net-zero industry plan
10 Feb 2023: EU leaders back green subsidy drive but leave details to Brussels
10 Feb 2023: Europe’s response to Biden’s green subsidy law lacks teeth
2 Feb 2023: EU’s green industrial plan vague on clean tech, finance, critics say
19 Jan 2023: EU Commission announces ‘Green Deal Industrial Plan’, but no fresh money
24 Jun 2021: The EU’s industrial strategy needs more action on climate
11 May 2021: Industry must align with the climate neutrality objective
22 Feb 2021: A new, climate-innovation led industrial strategy for Europe
European Green Deal
25 Apr 2024: A smart industrial policy to fast-charge Europe’s electric vehicles revolution
25 Apr 2024: Macron at Sorbonne: Energy key to French president’s ‘new European paradigm’
15 Apr 2024: Green Deal 2.0: Spain’s Ribera lays down vision for next Commission
9 Apr 2024: The Guardian view on Europe’s troubled green deal: make the case, not concessions
21 Mar 2024: Lobby groups call for business-friendly turn of the EU Green Deal
12 Mar 2024: The European Green Deal isn’t coping with a turbulent world. What must change?
9 Feb 2024: Next EU legislative term must reconcile climate and industry, says French think tank
26 Jan 2024: Polish farmers rally against Green Deal, Ukrainian food imports
11 Jan 2024: 2024-2029: Five years to deliver the Green Deal’s mobility promises
22 Dec 2023: Preview 2024: Elections to shape future of European Green Deal
4 Dec 2023: Czech far-right parties to push for Green Deal reversal after EU elections
28 Sep 2023: EU faces ‘make or break moment’ for green transition, report says
8 Sep 2023: Climate policy focus now shifting to implementation, EU says
26 Jun 2023: EU must pick up speed to reach climate goals, report says
5 Jun 2023: Green Deal: EU’s Timmermans rules out ‘break’ in the green transition
11 May 2023: Austrian conservatives join pushback against EU’s Green Deal
23 Sep 2022: Half of Czechs fear EU Green Deal will harm economy
6 Sep 2022: EU Parliament fights over sustainability criteria for insurance sector
19 May 2022: EU plans ‘massive’ increase in green energy to help end reliance on Russia
14 Jan 2022: Draft EU ‘green claims’ law overly focused on CO2 impact, critics say
13 Dec 2021: EU’s Timmermans: Brussels ‘will support’ member states that choose nuclear
30 Nov 2021: Barbara Steenberge: Green Deal cannot be paid by the most vulnerable tenants
25 Oct 2021: Nothing is more blah-blah-blah than the EU’s ‘sustainable’ trade policy
9 Jul 2021: Balance climate ambition with recovery efforts so that East can meet West
6 Jul 2021: VW, Daimler, Volvo team up to build truck chargers
14 Jun 2021: Five steps the EU can take to create a circular economy for cars
26 Apr 2021: From coal and steel to carbon-free and digital: the EU reaches turning point
26 Apr 2021: Von der Leyen calls for African green deal
5 Apr 2021: Mercosur trade deal threatens to wreck EU’s climate credibility
18 Mar 2021: ‘Very big tasks ahead’ in EU climate law negotiations
9 Mar 2021: Austria vetoes Mercosur deal saying it goes against EU Green Deal
9 Mar 2021: Crunch time in the climate law negotiations
2 Mar 2021: EU plotting ban on internal combustion engine as of 2025: industry
23 Feb 2021: Why the Commission is getting it wrong on climate number-crunching
8 Feb 2021: Germany’s RWE uses Energy Charter Treaty to challenge Dutch coal phase-out
25 Jan 2021: Europe must become a global climate power
21 Jan 2021: Slovakia struggles to keep pace with rapidly transforming car sector
18 Jan 2021: Brussels postponed green finance rules after 10 EU states wielded veto
14 Jan 2021: Businesses and consumers will decide whether the EU Green Deal works
21 Dec 2020: Time for a global Green New Deal
21 Dec 2020: From Paris to Glasgow: the EU must drive climate action at home and abroad
17 Dec 2020: EU agrees its green transition fund will not support natural gas
17 Dec 2020: EU shifts energy infrastructure funding away from gas, into electricity grids
11 Dec 2020: EU seeks 2030 climate deal by delaying decision on details
10 Dec 2020: Which technologies should be in the EU’s climate action toolbox?
7 Dec 2020: EU climate deal unlikely without breakthrough on budget, envoy says
7 Dec 2020: Time to step up: 5 years on from Paris
30 Nov 2020: Parliament backs consumer’s right to repair in push towards circular economy
30 Nov 2020: Energy: A critical raw material in its own right?
30 Nov 2020: Europe on track to smash its 2020 climate goal, EEA says
19 Nov 2020: European Green Deal needs to deliver on global challenges
27 Oct 2020: Europe needs a system change to meet Green Deal, says EU chief
5 Oct 2020: Energy performance in buildings is key to meeting 2030 emissions target
25 Sep 2020: EU considers allowing more state aid to boost green projects
15 Sep 2020: An EU 2030 climate target of at least 55% is not only necessary – it is also possible
14 Sep 2020: EU commission accused of 'cheating' on net-zero emissions accounting
14 Sep 2020: LEAK: EU’s 2030 climate plan makes case for 55% emissions cut
10 Sep 2020: Showcasing the need to improve energy performance of industry
25 Aug 2020: Draft EU methane strategy shies away from binding emissions standards
24 Aug 2020: EU can help Africa become the ‘greenest continent’: German minister
24 Aug 2020: Tougher EU climate target technically, economically feasible, researchers say
21 Aug 2020: Environment agenda: EU climate talks enter decisive phase
20 Aug 2020: Transport timetable: What’s moving in late 2020
15 Jul 2020: Green budget rules won’t be the hottest potato at EU summit talks
14 Jul 2020: A green and innovative recovery
14 Jul 2020: EU budget plan falls far short on climate goals, researchers say
13 Jul 2020: Renewable hydrogen: a strategic opportunity for global green recovery
10 Jul 2020: MEPs ban nuclear from green transition fund, leave loophole for gas
10 Jul 2020: EU Commission charts path towards 100% renewable hydrogen
10 Jul 2020: EU unveils blueprint for a more efficient energy system
15 Jun 2020: Europe’s oil refiners outline path to climate neutrality by 2050
8 Jun 2020: Policy brief: Energy sector integration
29 May 2020: EU lawmakers debate 65% climate target proposal
28 May 2020: The European Investment Bank must go further to truly become a ‘climate bank’
28 May 2020: EU recovery fund is a chance to accelerate the circular economy
26 May 2020: In political U-turn, Czechs back EU’s green recovery plan
25 May 2020: Green recovery hinges on the right data
21 May 2020: The EU’s state aid regime is upside down
21 May 2020: EU’s ‘Clean Hydrogen Alliance’ must focus on renewables, greens insist
19 May 2020: EU plans sweeping bioenergy review by end 2020
14 May 2020: Environmental NGOs launch appeal for green reconstruction
8 May 2020: Financiers join EU ‘green recovery alliance’
7 May 2020: How the coronavirus recovery effort can support a European Green Deal
7 May 2020: EU eyes green conditions on state aid to virus-hit firms
5 May 2020: EU climate neutrality goal not negotiable amid pandemic - lawmakers
4 May 2020: Green Deal will be ‘our motor for the recovery’, von der Leyen says
23 Apr 2020: Timmermans promises green recovery to EU lawmakers
20 Apr 2020: Four more EU nations back a green post-coronavirus recovery
16 Apr 2020: Which world do we want after COVID-19?
16 Apr 2020: How the coronavirus outbreak affects the EU’s 2030 climate targets
16 Apr 2020: LEAKED: Full list of delayed European Green Deal initiatives
2 Apr 2020: ‘We won’t slow down’ on climate: EU reacts to COP26 postponement
2 Apr 2020: Global hopes for hydrogen economy revived amid EU push
2 Apr 2020: EU presses on with tighter 2030 climate target despite pandemic
1 Apr 2020: #EUGreenRecovery to restart Europe – call to EU leaders
31 Mar 2020: Stakeholders call for ‘reality check’ on EU road transport and energy policy
30 Mar 2020: Poland says virus fallout makes it ‘even more difficult’ to hit EU climate goal
26 Mar 2020: Beyond the corona darkness: Bringing light, air and sustainability into people’s homes
24 Mar 2020: EU cost-benefit study seen backing 55% emissions cut by 2030
19 Mar 2020: Green Deal deserves a better Energy Taxation Directive in 2020, not years from now
19 Mar 2020: Green Deal facing delays due to coronavirus, EU admits
17 Mar 2020: Czech PM urges EU to ditch Green Deal amid virus
10 Mar 2020: EU’s industrial strategy must serve climate neutrality, not undermine it
10 Mar 2020: EU experts recommend two-tier approach to ‘green’ investment rules
10 Mar 2020: Exxon lobbyists urged Commission to tune down car CO2 rules
10 Mar 2020: Eleven million jobs at risk from EU Green Deal, trade unions warn
3 Mar 2020: Bulgaria wants €33 billion to start implementing the Green Deal
3 Mar 2020: Environment groups say EU's planned climate law means a lost decade
3 Mar 2020: EU’s just transition ambitions face acid test
20 Feb 2020: The European Green Deal will bypass the poor and go straight to the rich
13 Feb 2020: EU starts to chart shipping’s new green course
6 Feb 2020: The role of sustainable bioenergy in delivering the European Green Deal
6 Feb 2020: Europe plans to harness ‘power of data’ in support of Green Deal
4 Feb 2020: Germany is not fit for a climate changed world, but it can still lead the way
27 Jan 2020: Piecing together Europe’s climate finance puzzle
23 Jan 2020: EU Green Deal can help set the tone for CEOs in Davos
23 Jan 2020: EU’s Breton looking into ‘non-conventional’ measures to finance Green Deal
21 Jan 2020: Industrial decarbonisation and the EU Green Deal: The case for bold action
16 Jan 2020: ‘Green’ alert: environmental risks top Davos report
16 Jan 2020: Not all member states will benefit from the European Green Deal
16 Jan 2020: Question marks raised over scale of EU’s new climate fund
16 Dec 2019: The indispensable second wave of the Green Deal: A Green Industry Strategy
12 Dec 2019: France, UK block green finance deal in setback for climate goals
12 Dec 2019: Europe must lead on the climate crisis. The European Green Deal shows how
12 Dec 2019: EU Commission unveils ‘European Green Deal’: The key points
9 Dec 2019: Time is ripe to align EU policies with Paris Climate Agreement
6 Dec 2019: EU agreement on 2050 climate neutrality can help spur a renovation wave