A new report from the World Bank Group in collaboration with CLASP and Carbon Trust, A Greener Path to Competitiveness, finds that industry has a large role to play in tackling climate change with huge untapped energy saving potential.
The report highlights the highest carbon-emitting sectors in the world’s economy: the production of iron and steel, aluminum, chemicals and cement. These industries continue to rely heavily on traditional fuel sources such as coal, natural gas and oil. There are significant opportunities to reduce these emissions, by using new technologies or retrofitting older plants to make production greener. Without urgent action, there is a danger that climate change targets set by the 195 signatories to the Paris Agreement will not be met.