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2024 Federal Policy Blueprint

2024 Federal Policy Blueprint

Full Title: 2024 Federal Policy Blueprint
Author(s): Industrial Innovation Initiative
Publisher(s): Industrial Innovation Initiative
Publication Date: January 21, 2024
Full Text: Download Resource
Description (excerpt):

Industry undergirds the country’s economy, producing the chemicals, steel, cement, paper, and other essential goods that people and businesses use. The industrial sector is also a critical source of jobs in many small and medium-sized communities. At the same time, to reach national and global climate goals of net zero by midcentury, industrial emissions must decrease significantly in the near and medium term. The International Energy Agency recently estimated that global industrial emissions must decrease by 60 percent between 2022 and 2040 to meet midcentury decarbonization goals.
Looking at the United States, the US long-term strategy projects that emissions from the industrial sector must decline by 69–95 percent by 2050 to achieve net-zero emissions across the economy.
There are several reasons why decarbonizing industry is a daunting task. Some industrial facilities are designed to last decades, making it difficult to incorporate new technologies. Many facilities operate twenty-four hours a day, every day of the year, without interruption. This can create obstacles to drawing on intermittent energy sources. Finally, emissions are an inevitable byproduct of chemical reactions essential to manufacturing specific industrial products. These are only some of the barriers to curbing industrial emissions.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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