Six bold steps towards net-zero industry

Abstract

The rapid and deep decarbonization of global industry is key to reaching climate policy targets, yet it remains an incredibly difficult challenge. We propose six bold steps for accelerating progress on achieving net-zero industrial carbon emissions by mid-century with a focus on lessons learned and emerging analysis from both the Global North and Global South, the latter of which we consider as low or middle income countries primarily located in Africa, Asia and Latin America. These steps are (1) quintupling financing, (2) expediting technology transfer, (3) investing in human resources, (4) setting binding targets, (5) steering social acceptance and (6) enacting a new global treaty and shaping climate clubs. Perhaps surprisingly, there are more than thirty effective historical and contemporary initiatives to learn from, showcasing a rich tapestry of previous efforts and templates to build on and to inform net-zero decarbonization efforts.