Full Title: Reaching Net-Zero Industry through Public-Private Partnerships
Author(s): Gökçe Mete, Robin Hocquet, Felipe Sanchez, Sara Talebian, Astrid Nilsson, Gayoung Choi, Sue Kyoung Lee, Eunmi Lee, Jooyeon Moon
Publisher(s): Stockholm Environment Institute (SEI), Green Technology Centre Korea (GTC)
Publication Date: May 28, 2021
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Description (excerpt):
Industry accounts for roughly 30% of global CO2 emissions and these emissions have been growing significantly as many countries around the world seek to industrialize. This places a significant imperative on industrial actors globally to reduce emissions sharply for the world to limit global warming well below 2°C, as required by the Paris Agreement.
Global momentum for industry transition is building, with public and private stakeholders across the world taking steps to decarbonize the sector. Among many nations, industry transition is becoming a top priority, and countries are putting in place roadmaps in the form of visions, pathways and action plans to provide advanced decision support for policymakers. Meanwhile, companies such as FLSmidth and HYBRIT are setting net-zero targets and promoting ultra-low-carbon technologies.
In this briefing, we review some public-private partnerships and policy mixes that are receiving a lot of attention, including green public procurement, carbon contracts for difference, carbon border adjustment, industrial clusters, and climate partnerships. We also examine how collective action among countries can send a stronger signal to businesses and investors. We provide case examples from South Korea (hereafter Korea), Denmark and Sweden and share experiences of the EU, Canada, and the UK in implementing some of the key measures.