“Sectors of the economy with high CO₂ emissions are in deep need of new technologies”

Photo by: pashapixel / iStock

A key challenge for industrial transition to a green economy is the availability of new technologies. This challenge is particularly relevant for the seven industrial sectors that are responsible for the highest greenhouse gas emissions, namely iron and steel, chemicals and petrochemicals, cement manufacturing, food and tobacco, non-ferrous metals, pulp and paper, and machinery.

All the “low-hanging” (simply put, over-ripe) fruit that could be harvested to achieve the decarbonisation goals of these sectors has already been harvested over the past 10–15 years. And new technological solutions are urgently needed today for these sectors, including, for example, access to carbon-free sources for heat generation (unlike for electricity, this problem has not yet been addressed systematically).

The key factor here will be the commercial viability of low-carbon footprint products based on next-generation technology solutions. The question is, are customers (customers, consumers) — in both the private and public sectors — prepared to pay more for zero carbon footprint products than for conventional ones as part of their procurement?

Cover photo: Yury Karamanenko / iStock