Industry Transition Policies – From Roadmaps to Trackers: Innovations in evidence based decision making

Emissions stemming from the steel sector contribute approximately 2.8 gigatonnes of CO2 annually, accounting for approximately 7% of the global CO2 emissions and approximately 5% of emissions within the European Union (European Commission, 2022; IEA, 2023). To align the iron and steel industry with the Paris Agreement objectives, a substantial reduction in carbon dioxide emissions is imperative.

The Green Steel Tracker developed by the Leadership Group for Industry Transition aims to provide support to decision makers in policy and industry, as well as to civil society, by gathering all information on low-carbon investments in the steel industry in one place. The tracker monitors the progress of initiatives utilizing technologies able to minimize carbon dioxide emissions, framed under a time-bound company-wide plan for decreasing iron and steel carbon dioxide emissions.

Complimenting trackers are decarbonization roadmaps, which build momentum and overcome inertia around transition. The method provides a pre-determined goal associated with a desirable future and sets out possible pathways, strategic plans, actions, and policies required to reach that point. Such industry transition roadmaps can serve as analytical tools for understanding, framing and shaping complex transitions. They offer an opportunity to set out the timing and sequencing of policy, investment and innovation in such a way that reduces the risk of industries being locked into higher emission trajectories due to the long lifespan of industrial assets.

We propose to present at this session illustrative examples of tools and methodologies that can catalyse industry transition with the goal of climate mitigation. We will build upon our work in the Global South, of technology co-development and innovative uses of data to highlight how such transitions can be scaled up.