Green Market Instruments for Industry Decarbonisation – Spotlight on Steel in Emerging Economies

Indicative findings from the Global Stocktake highlight that insufficient progress has been made in reducing emissions from industry. Given that emerging economies need to balance economic growth with climate action, industry decarbonisation becomes indispensable for their development.

With the steel sector expected to witness brisk growth in transition economies like India and Brazil, the absence of viable green alternatives risks locking the lion’s share of steel production capacity in these geographies into emissions intensive production processes.

In this context, the roundtable, jointly organized by TERI, Climate Catalyst and Mission Possible Partnership, will seek to contribute to the Global Stocktake and highlight areas where support and progress are urgently required on industry decarbonisation. The event will examine instruments across the policy, industry and finance levers that can enable markets for green industrial products, specifically focusing on the steel sector in emerging economies. Discussions at the event will highlight the role of technology transfers, financing technology investments, and creating global supply chains for clean energy, and share opinions on the following questions:

• 1. What are the appropriate demand-side and supply-side instruments to catalyse transition in steel and other heavy industries in emerging economies?
• 2. What is the role of financial institutions, the private sector, and the government in implementing these instruments?
• 3. What lessons can we draw for other industries and countries (particularly other transition economies)?

To access the outcome document of the event, click here.