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European Union
The European Green Deal provides a foundation for a climate-neutral industry but needs to be complemented with accelerated development of key infrastructure and markets for clean products.
Industry is responsible for around one-fifth of greenhouse gas emissions in the European Union (EU). It also plays a vital role in Europe’s energy transition by manufacturing the clean technologies and critical materials needed to achieve climate neutrality. The European Green Deal introduces various measures to put energy-intensive industry on a decarbonisation pathway: reinforced carbon prices under the EU Emissions Trading System (EU ETS), an Innovation Fund to de-risk investments in breakthrough technologies, a Carbon Border Adjustment Mechanism, and a framework to increase the share of renewable energy in industrial heat. The EU now needs to implement these elements effectively. Agora Industry’s work focuses on the next crucial steps: the acceleration of critical infrastructure, including carbon capture and storage (CCS) and electricity transmission, storage and distribution, as well as ensuring competitive clean electricity prices for industrial electrification and scalable markets for climate-neutral basic materials.
