2025钢铁和水泥过渡的供需措施（英）

DemandandSupplyMeasuresfortheSteelandCementTransition

Thecaseforinternationalco-ordination

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DemandandSupplyMeasuresfortheSteelandCementTransitionThecaseforinternationalco-ordination

Abstract

IEA.CCBY4.0.

Abstract

Amassivescale-upofmarketsfortransformativenear-zeroemissionssteelandcementisneededtoachieveinternationallyagreednetzerogoals.Yetearlymoversonboththesupply-anddemand-side–thatis,materialproducersandconsumers–facesubstantialbarriersrelatedtohighcostsandrisks,amongotherfactors.Thishasledtorelativelyslowmarketgrowthfornear-zeroemissionsmaterials,atamomentwhenreinvestinginlong-livedhigh-emissionsproductioncouldhaverepercussionsforgovernmentstoachievetheirstatedclimategoals.Policymakershavetheopportunitytoplayadecisiveroleinunlockingmarketsfornear-zeroemissionsmaterials.Governmentsarewell-positionedtoreduceriskduringmarketformation,andtargetedpolicymeasurescanprovidethecertaintythatiscurrentlylackinginmarkets.Furthermore,internationalcollaborationwillbevitaltomakethetransitionfasterandlesscostly,giventheinternationalnatureofmarketsforindustrialproducts,theneedforlargeandcapital-intensivetechnologydemonstrationsfornear-zeroemissionproduction,andthelargerdemandsignalsthatcanbecreatedbypoolingcommitmentsacrossborders.

Thisreport–producedattherequestoftheClimateClubyetgenerallyapplicabletopolicydiscussionsforindustrialdecarbonisation–offersconsiderationsandoptionsforgovernmentstoscaleupmarketsfornear-zeroandlow-emissionssteelandcement,whileconcurrentlyreducingrelianceonhigh-emissionsmaterials.Itmakesthecaseforwhybothdemand-sideandsupply-sidemeasuresareimportanttokick-startmarketsfornear-zeroemissionsmaterials,summarisingprogresstodateandhighlightinggapsthatrationalisegovernmentaction.Keypolicyoptionsareoutlined,illustratingthevarietyofmeasuresavailabletogovernmentsastheyimplementstrategiestailoredtotheirparticularcircumstances.Thevalueofinternationalco-ordinationonsuchmeasuresisdiscussed,andaninitialillustrativeproposaliselaboratedforthosegovernmentsthatmaywishtoconsidercomingtogetheraroundacollectivepledgeforscalingupthemarketshareofnear-zeroemissionsmaterials.

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DemandandSupplyMeasuresfortheSteelandCementTransitionThecaseforinternationalco-ordination

Acknowledgements

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Acknowledgements

Demandandsupplymeasuresforthesteelandcementtransition:Thecaseforinternationalco-ordinationwaspreparedbytheEnergyTechnologyPolicy(ETP)DivisionoftheDirectorateofSustainability,TechnologyandOutlooks(STO)oftheInternationalEnergyAgency(IEA).TheprojectwasdesignedanddirectedbyTimurGül,IEAChiefEnergyTechnologyOfficer.AraceliFernandezPales,HeadoftheTechnologyInnovationUnit,providedstrategicguidancethroughoutthedevelopmentoftheproject.

TheprincipalIEAauthorswere:AndrewRuttinger,TiffanyVass,andIsabelGeppert.

ThedevelopmentofthisreportalsobenefittedfromcontributionsfromotherIEAcolleagues(inalphabeticalorder):YasmineArsalane,LeonardoCollina,MathildeFajardy,AlexandreGouy,PolGuardiaCalsina,MartinKueppers,PeterLevi,AntonellaPasetto,NicholasSalmon,andRichardSimon.Per-AndersWidellprovidedessentialsupportthroughouttheprocess.LizzieSayereditedthemanuscript.

ThanksalsotoCurtisBrainard,PoeliBojorquez,AstridDumond,GraceGordon,JethroMullen,IsabelleNonain-Semelin,andLucileWalloftheCommunicationsandDigitalOffice.

ThisreporthasbeenpreparedasadeliverableundertheClimateClubWorkProgramme.

TheworkbenefitedfromcollaborationwithRambollandClimateGrouponaquestionnairetosteelandconcretebuyersconductedinJuly2024.

TheworkcouldnothavebeenachievedwithoutthefinancialsupportprovidedbytheGovernmentofGermany.

Peerreviewersprovidedessentialfeedbackandinputtoimprovethequalityofthereport.Theyinclude:RachelAhrens,MalteBornkamm,MichaelBüchl,BenediktDengler,StelaIvanova,JohannaWehkamp(GovernmentofGermany),JelenaAleksicandDanielBoeroVargas(WorldEconomicForum),HiroyukiAnzai,NaokiAoki,DaisukeIchimura,andYoshitoIzumi(JapanCementAssociation),JasmineBascombe,AdamCohen,andLorenzaMicaletti(GovernmentoftheUnitedKingdom),ChrisBataille(IDDRI),EleanorBatilliet,HelenRolfing,andAylinShawkat(AgoraIndustry),FrancescaBazzocchi(GovernmentofItaly),NikolasBlackandNickGillard(GovernmentofNewZealand),AgnesBorgandJesperKansbod(SSAB),EdwardBoyd,ElliotMari,andMarcMoutinho(MissionPossible

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Partnership),ClareBroadbentandAsaEkdahl(WorldSteelAssociation),JenCarson(ClimateGroup),JosephCordonnier,StephanRaes,andDegerSaygin(OrganisationforEconomicCo-operationandDevelopment),WalkerDarke,PeterHemingway,AndreeaNicoletaMiu,SarbojitPal,SoledadReeve,FionaSkinner,andHugoThomasSalamancaDejour(UNIDO),TuğbaDinçbaş(GovernmentofTürkiye),JohnDulac(Saint-Gobain),TaghareedElgoweily(GovernmentofEgypt),LeahEllis(SublimeSystems),JakobEmbacherandSophiePraniess(GovernmentofAustria),GerhardEndemann(WVStahl),SamuelFlückiger(Thyssenkrupp),ChristinaGamboa(WorldGreenBuildingsCouncil),JavierGarcíaMongeandAmbrosioYobánolo(GovernmentofChile),RossanaGresia(GovernmentofBelgium),VišnjaGrgasovićandMirnaMaravić(GovernmentofCroatia),WillHall(PooledfundonInternationalEnergy),ShivakumarKuppuswamy(ResponsibleSteel),BoyoungKang(GovernmentofKorea),JohannaLehne,PallaviSingh,andJuliaSkorupska(E3G),YinghaoLiu(Baosteel),PaulPulickalMathew(ClimateInvestmentFunds),AndrewMinson(GlobalCementandConcreteAssociation),AlanMonaghan(NetZeroIndustriesMission),JoeMorrisroe(S-CurveEconomics),FabioPassaro(ClimateBondsInitiative),NazarethRojas(GovernmentofCostaRica),AnilSawhney(RoyalInstitutionofCharteredSurveyors),MarkusSteinhäusler(Voestalpine),andEmilyWalport(Arup).

Theindividualsandorganisationsthatcontributedtothisstudyarenotresponsibleforanyopinionsorjudgementsitcontains.TheworkreflectstheviewsoftheIEASecretariatbutdoesnotnecessarilyreflectthoseofindividualIEAmembercountries,ClimateClubmembers,theClimateClubSecretariat,orofanyparticularfunderorcollaborator.AllerrorsandomissionsaresolelytheresponsibilityoftheIEA.

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DemandandSupplyMeasuresfortheSteelandCementTransitionThecaseforinternationalco-ordination

Tableofcontents

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Tableofcontents

Executivesummary 7

Introduction 14

Achievingnetzeroemissionsbymid-centuryincementandsteelsectors 14

Rationaletoconsiderinternationalco-ordinationondemand-andsupply-sidemeasures.16

Demand-sidemeasures 21

Therationalefordemand-sidemeasures 21

Progresstodateandlessonslearned 30

Policyoptionstoaccelerateprogress 38

Supply-sidemeasures 43

Therationaleforsupply-sidemeasures 43

Progresstodateandlessonslearned 56

Policyoptionstoaccelerateprogress 62

Potentialroleofacollectivepledgeindecarbonisingindustry 67

OpportunitiesforacollectiveindustrypledgeondemandandsupplyundertheClimate

Club 71

Illustrativepledgeproposalfordiscussion 73

Considerationsaroundacollectivepledge 74

Developingpoliciestoimplementpledges 77

Annex 80

Abbreviationsandacronyms 80

Unitsofmeasures 80

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DemandandSupplyMeasuresfortheSteelandCementTransitionThecaseforinternationalco-ordination

Executivesummary

IEA.CCBY4.0.

Executivesummary

Theseedsforproducingandusingnear-zeroemissionsmaterialshavebeenplanted,butaccelerationisneeded

Theindustrysectorrequiresamassivescale-upofmarketsfortransformativenear-zeroemissionsmaterialstocontributetotheachievementofinternationally-agreedgovernmentobjectivesfornetzeroemissions.Suchscale-uprequirestheproductionanduseofthesematerialstogrowfromessentiallyzerotodaytocapturenearlytheentiremarketwithinthenextfewdecades,shiftingawayfromhigh-emissionsconventionalproductionanddemand.Thesteelandcementsectorsaccountfor14%ofglobalenergyandprocess-relatedemissionsonadirectbasis,makingthemcentraltothedecarbonisationchallenge.

Firstmoverproducersofnear-zeroemissionsmaterialsarebeginningtopositionthemselvestocompeteinsuchmarkets,includingthroughthedevelopmentofdefinitions,certificationandlabellingsystemsfornear-zeroemissionssteelandcement–insomecasesthroughcollaborationwithgovernment–liketheLowEmissionsSteelStandardinitiatedinGermany,thevoluntaryCO2standardoftheChinaIronandSteelAssociation,andtheGlobalCementandConcreteAssociation’sdefinitionsproposal.Yet,whileprogressisunderway,ithasnotyetadvancedatthespeedandscaleneeded:announcedcapacityfornear-zeroemissionsiron-basedsteelproductionandcementproductionby2030amountstoonlyabout10Mtand35Mt,respectively,equivalentto10%ofthatrequiredinthesameyearonapathwaytonetzeroemissionsbymid-century.

Onthedemand-side,somematerial-consumingcompanies–likeautomanufacturersandconstructioncompanies–arealreadycommittedtoprocurenear-zeroemissionsproducts,indicatingawillingnessfromsomebuyerstopayapricepremium.Thequantitiesaresofarquitesmall–offtakeagreementsfornear-zeroemissionssteelforwhichquantitiesarepubliclydisclosedaccountforonlyalittleunder2Mtperyearofdemandby2030.Materialpurchasershaveannouncedawillingnesstopurchaseanadditional3MtthroughtheFirstMoversCoalitionNear-ZeroSteel2030DemandChallengeandtheRMISustainableSteelBuyersPlatform,althoughthisdemandhasnotyetbeenmet.Together,thisnearly5MtofdemandisestimatedtohaveacombinedvalueofroughlyUSD3.5billion.Furtherdemandthathasnotyetbeenfulfilledmayalreadybemuchlargerbutisdifficulttoquantifyoutsideofsuchinitiatives.Nevertheless,offtakeagreementssofarlackregionaldiversityandremaintoosmalltoprovidethecertaintyneededforasufficientnumberofproducerstotakeontheriskofearlydeployment.

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Despiterelativelymodestbeginnings,marketshavethepotentialtogrowsubstantiallyinthecomingyears.Bywayofexample,theglobalmarketvalueofnear-zeroemissionssteelalonewouldreachclosetoUSD300billion(about20%oftoday’stotalsteelindustryglobalmarketvalue)by2035ifmarketsgrowatapacecommensuratewithgovernmentclimatepledges.By2035,thismarketvaluewouldreachclosetoUSD550billiononapathwaycompatiblewithreachingnetzeroemissionsbymid-century.Themarketvaluefornear-zeroemissionscementcouldreachuptoUSD100billionby2035,dependingonthepolicysettings.

Policyactionisvitaltoestablishinternationalmarketsfornear-zeroemissionsmaterialproductionanduse

Earlyadoptionofnear-zeroemissionsmaterialsandproductiontechnologiesrequiresovercominganumberofbarriers,mostnotablycost.Earlyofferingsofnear-zeroemissionssteelandcementcarryapricepremiumresultingfromanestimated10%to125%higherproductioncostcomparedtoconventionalproduction,dependingonregionalandtechnologicalfactors.Theinternationalnatureofindustrialmarkets,whichmeansthatproducersaretrade-exposed,furtheraccentuatestherisksforthefirstprivatesectorinvestors.

Againstthisbackdrop,targeteddemandandsupplypolicymeasuresimplementedbygovernmentsgloballycouldhelppushmarketsfornear-zeroemissionssteelandcementoverimportantthresholds.Forexample,pastexperiencesuggeststhatataround1%ofmarketshare,technologiestypicallyhavesufficientmaturitytohaveatangibleeffectonsupplychains.Thismakeswideradoptionafterwardsmorestraightforwardduetotheexperiencefromearlyprojectsandeconomiesofscaleinproductionthathelplowercost.Reachingthesethresholdscantakeuptoseveraldecades,especiallyforlargeandsite-tailoredtechnologiestypicalofindustry.Asindustryplayerslookfornewwaystosecureacompetitiveadvantageinthecurrentlychallengingmarketcontext–andwithmid-centuryonlyoneinvestmentcycleawayforlong-livedindustrialplants–governmentsupportcouldmakethedifferenceinspurringgrowthfornear-zeroemissionsmaterials.

Demand-sidemeasuresarecriticaltoprovidecertaintygiventhehighercostsandriskofearlydeployment

Governmentmeasureshaveaparticularlyimportantroletoplayintheneartermforscalingupmarkets:well-designedtargeteddemand-sidemeasurescancreateearlyleadmarketsfornear-zeroemissionsmaterials,pavingthewaytomorewidespreadmarketopportunitiesthereafter.Governmentsarewell-positionedtohelpbufferthehigherriskthroughtargetedpoliciesduringmarketformation,untilotherdynamicsmaybeabletotakeoverinthelongerterm.Policiestosupportinnovationandearlydeploymentcanhelpshrinkthepricepremiumthrough

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technologicallearningandeconomiesofscale.Moreover,thepricepremiumonfinalproductslikecarsandhousesislikelytoberelativelysmall–upto5%,butoftenless–giventhatsteelandcementmakeuparelativelysmallportionofoverallcosts.Yetintheshort-term,supplychaincomplexitiescanmakeitdifficulttopassthroughadditionalcoststofinalconsumers–policiesmaybeabletohelpbringmarketstothepointwherecostpass-throughcouldbemorefeasible.Overthelongerterm,increasingstringencyandglobalcoverageofbroaderpolicymeasureslikecarbonpricingwouldraisethecostofhigh-emissionsmaterialsandmayhelpenablenear-zeroemissionsmaterialstoeventuallyreachpriceparity.

Theapproachtakentoprovidecriticalearlydemand-sidesupportcanbetailoredtoeachgovernments’circumstancesandpreferences.Targetedmeasurescouldincludepoliciesaimingtocoverthepricepremium,likecontractsfordifferenceandpublicprocurementofnear-zeroandlow-emissionsmaterials.Theycouldalsoincludemandatoryregulationsthatrequireagrowingmarketshareofnear-zeroemissionsmaterialsorestablishcompulsoryemissionintensityperformancelevels.Thesecanbesupplementedbymeasuresthattargetend-products,likepoliciesthatsetembodiedcarbonlimitsonbuildingsorvehicles,orproductdesigncodesthatconsiderlifecycleemissions.Governmentinvolvementtoensureclear,consistentandverifiablelabellingandcertificationcanunderpinthesepoliciesandfacilitatedemandbyprovidingtransparencyandreducingcomplexity.

Supply-sidemeasurescanworkhand-in-handwithdemand-sidepoliciestohelpdriveashiftincapacity

Investmentdecisionsmadetodaydirectlyimpactthestockoffacilitiesoperatingmid-century.Foratrajectorycompatiblewithinternationallyagreedgovernmentobjectives,near-zeroemissionsproductionneedstobescaleduprapidlywhilehigh-emissionsproductionisreducedinanorderlymanner.Yetthewindowisnarrowingtobringnear-zeroemissionstechnologiestomarket:15%oftheglobalsteelproductionfleetaround2035and40%forcementaround2030willfaceareinvestmentdecision.Thesefiguresincreaseto50%andnearly100%forClimateClubmembers.

Newinvestmentswillrequirecarefulconsideration:atpresent,over200Mtofhigh-emissionsconventionalsteelmakingcapacityiseitherplannedorsettocomeonlineinthenextyears,virtuallyallinemergingeconomies.Meanwhile,achievingnetzeroemissionsbymid-centuryrequiresthatproductioneventuallytransitionawayfromhigh-emissionsconventionalproduction.Thismeansthatnewcapacityadditionswouldbeconstructedtobenear-zeroemissions“capable”,ifnotfullynear-zeroemissions,withclearplansandtechnicalcapabilitiesforconversiontonear-zeroemissionsproductionpriortomid-century.Insomejurisdictions,thismayalsoentailtheretrofitorreplacementofhigh-emissionsexistingassetswithnear-zeroemissionstechnologiesduringtheupcominginvestmentcycle.

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Governmentscanmakeuseofavarietyoftargetedsupply-sidemeasurestodesignastrategyfortheirindustrytransition.Economy-widemeasuressuchascarbonpricingcanhelpbackstoppolicystrategiesandimprovethecost-competitivenessofnear-zeroemissionsmaterials,butaremosteffectivewhencoupledwithtargetedmeasures.Theseincludeincentivessuchasgrants,contractsfordifference,taxcredits,orotherfinancingthatcansupporttechnologydemonstrations,commercial-scaleearlydeployment,andoperatingcostsforcleanenergytechnologies.Policiestargetedatsupportingandco-ordinatingscale-upofenablinginfrastructure–includingforlow-emissionshydrogenandelectricityproduction,transmissionanddistribution,andCO2transportationandstorage–canfacilitatemorerapidroll-outofnear-zeroemissiontechnologies.Meanwhile,regulatorymeasureslikeretrofit-readyornear-zero“capable”requirements,moratoriumsonnewbuildsofhigh-emissionscapacity,ortargetstoreduceproductionanduseofemissions-intensivematerialscanbewaystoensureassetsaredecarbonisedsufficientlyquickly,whilealsoreducingexcesscapacitythatcontributestodepressedmarketpricesthatmakeitharderforindustryplayerstoinvestindecarbonisation.

Collaborationacrossbordersondemandandsupplywouldbringmultiplebenefits

Theinternationalnatureofmarketsforindustrialproducts–alongwiththeneedforlargeandcapital-intensivetechnologydemonstrationsfornear-zeroemissionproduction–meansthatinternationalcollaborationisvitaltomaketheindustrytransitionfasterandlesscostly;weakinternationalco-operationcoulddelaythetransitiontonetzerobydecades.

Investmentsinsupplyofnear-zeroemissionsmaterialstendtobelargeandlumpy

–thatis,anewmillion-tonnesteelorcementplantisamajorinvestmentthatwillsupplymanybuyersoverdecades.Internationalco-operationondemandcommitmentscansendlargersignalstomarkets,therebyhelpingtode-risksuchinvestments.Aggregatingdemandfrommultiplepublicandprivatesectorbuyers,aswellasacrossborders,canincreasecertaintyandhelpsecureabusinesscaseforproducers.Sucheffortsarealreadyunderway;forexample,tengovernmentsarecollaboratingonpublicprocurementoflow-emissionsmaterialsundertheIndustrialDeepDecarbonisationInitiative(IDDI),ofwhichfivehavecommittedtoaGreenPublicProcurementPledge.Together,theyprocureover30Mtofsteeland55Mtofcementperyear.Sucheffortsneedtobewidenedtoalargernumberofgovernments,andambitionneedstoberaisedoverall,toachievecriticalmass.

Onthesupplyside,internationalknowledge-sharingandcollaborationcanhelpspeed-uptechnologydevelopmentandcostreductions.Internationalfinancecanalsohelpacceleratedeploymentinmultipleregionalcontexts,helpingtoachieveeconomiesofscaleontechnologiesacrossmoreregionsandwithincreasedpace.

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Co-ordinationisalsoneededtoaddresschallengesthatarefundamentallyglobalintheirnature,suchasexcessglobalindustrialcapacitythathasimplicationsacrossinternationalmarkets.

Co-ordinatingpolicyambitionacrossgovernmentscanbeacentralpartofco-operationefforts.Raisingpolicyambitionandsettingsimilarpacesofdecarbonisationacrossmultiplecountriescanhelpmitigatecarbonleakageasmarketsfornear-zeroemissionsmaterialsgrow.Itcanalsohelpsharethepolicyburden,inthatlargerinternationalmarketsfornear-zeroandlow-emissionsgoodswouldreducetheextenttowhichindividualgovernmentsmayneedtoprovideexportsubsidiesforearlyproducers.Formarketactors,thisco-ordinationcanalsoprovidethepredictabilityandtransparencyneededtoacceleratemarketgrowth.

Collaborationamonggovernmentsonpolicyambitioncantakedifferentformsandlevels.Atahigherlevel,collectiveinternationalpledgescanspurdialogueonambitionandsendpowerfulearlysignalstomarkets.Atthemoregranularlevel,governmentsmaychoosetodiscusspossibilitiesforco-ordinationandalignmentofspecificpolicymeasures.Thesecouldincludesimilarratesofsubsidiesundercontractsfordifference,comparablecarbonprices,alignedemissionsthresholdsusedinemissionsintensityregulations,co-ordinatedrequirementswithinpublicprocurementpoliciesfornear-zeroandlow-emissionsmaterials,orsimilartimelinesforreducingrelianceonhigh-emissionsproduction.

ClimateClubmembershaveanopportunitytobecomecollectivefirstmoversandshapefuturemarkets

Acrossvariousareasoftheenergysystem,co-ordinatedpledgeshaveemergedinrecentyearsasarallyingpointforincreasingglobalambitionandpolicyefforts,whilesendingimportantglobalmarketsignals.GovernmentsaroundtheworldcametogetheraroundglobalpledgesatCOP29toscaleupto1500GWofenergystorageand25millionkilometresofelectricitygrids,atCOP28totriplerenewablesanddoublethepaceofimprovementonenergyefficiency,andatCOP26toreducemethaneemissionsbyatleast30%.Meanwhile,initiativesliketheBeyondOilandGasAllianceandthePoweringPastCoalAlliancetargetreductionsinemission-intensivetechnologiesandprocesses.Inthecaseofthelatteralliance,itsmembersretired35GWofcoalpowercapacityfrom2018-23andplantoretirewellover100GWoffurthercapacityby2030.

Acomparable,easilycommunicableglobalrallyingpointfortheindustrytransitionhasnotyetgainedwidespreadtraction.Pledgesthathaveemergedrecentlyamongsmallercoalitionsofgovernments,suchastheIDDI’sGreenPublicProcurementPledgeandacollaborativecalltoactionlaunchedatCOP29byseveralgovernmentsonscalinginternationalassistancefortheindustrytransition,couldprovideseedsandlearningsforabroaderinternationalcollectivepledge.

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Asahigh-levelco-operativeinitiativeforincreasingambitiononindustrialdecarbonisation,theClimateClubhastheopportunitytoprovideaforumtodiscusscollaborativeactionandexplorethepossibilityofabroadercollectivepledgefortheindustrialtransition.Accountingforjustover25%ofglobalproductionanddemandforsteel,andaround20%forcement,ClimateClubmemberscouldactascollectivefirst-moverandhaveamajorimpactonglobalmarkets.Meanwhile,paralleldiscussionsinotherworkstreamsoftheClimateCluboninternationalassistanceandfinancewillbecriticaltohelpallmembersconsiderambitiousparticipationinsuchapledge.

Aninternationalpledgeonindustrialdecarbonisationcouldsendanimportantmarketsignal

Inthisreport,attherequestoftheClimateClub,theIEAhasdevelopedanillustrativeproposalforacollectivepledgethatcouldserveasastartingpointforconsiderationanddiscussionbyClimateClubmembers.Itaimstoaddressdemand-andsupply-sidechallengesfacedbyglobalnear-zeroemissionssteelandcementmarkets,aswellasthetransitionawayfromhigh-emissionsconventionalmaterials.Theseareareaswhereinternationalcollaborationisdeemedparticularlyvaluable;complementarymeasuresbymemberstoadvanceotherindustrialdecarbonisationstrategiessuchasmaterialefficiencyandcircularitywouldbeusefulinparallel.

Atthecentreofthepledgeproposalaresimple-to-communicate,tangible,quantitative,andtime-boundtargetsforthemarketsharesofnear-zeroemissionssteelandcement,inlinewiththeambitionoftheNetZeroEmissionsby2050Scenario.Theseprovideastartingpointfordiscussion.Thetargetforsteelishigherthanthatforcement,asaconsiderableportionofthesteeltargetcouldlikelybemetwithfullyscrap-basedproduction.Supportingtheproposalarefourcategoriesofactionsthatgovernmentscouldconsidercommittingtoimplementinordertorealisethepledge,includingthroughdomesticpolicyimplementation,aswellasinternationalco-operation,assistanceandfinance.

Inconsideringsuchapledge,ClimateClubmemberscouldexplorehowtoensurecommitmenttothepledgecanbeformulatedinawaythattakesintoaccountdifferentcountries’circumstances,andhowinternationalassistancecanbolsterpossibilitiesforraisedambition.Additionally,tobeeffective,suchapledgewouldneedtobefollowedthroughwithimplementationplansbysignatories.Thisincludes,inparticular,thedesignandadoptionofarobustportfolioofdemandandsupply-sidemeasurestailoredtotheuniquecircumstances,budgetaryconsiderations,competitiveadvantages,andpolicyobjectivesofeachsignatory.

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Anillustrativepledgeonindustrialdecarbonisation

Theillustrativepledgeexamplefordiscussion,anditssupportingactions(whicharedetailedinthereport,alongwithconsiderationsfor