Ten top asks from WWF and Carbon Market Watch
The EU Industrial Strategy is the first sector-specific plan to be published since the European Green Deal announcement. The Strategy is the opportunity to set the EU economy in the direction of climate neutrality, as proposed under the EU Climate Law.
It is a chance to put climate action at the heart of industrial policy and tackle the emissions of the EU’s most polluting industries – the ‘Energy Intensive Industries’ or EIIs – which are accountable for about 16% of EU total annual CO2.3 To link competitiveness and climate ambition effectively on a path to climate neutrality, the EU Industrial Strategy must be designed in a comprehensive way.
There is a need for strong investment signals now in EIIs, especially in sectors with particular relevance to climate action such as chemicals, steel and cement. These sectors alone represent 60% of all industrial GHG emissions and most of their European plants will need to be refurbished or replaced in the course of the next decade. Investment in zero-carbon technologies must take place in the upcoming investment cycle in order to reach climate neutrality on time.
Read the full briefing here