Multidimensional Policy Perspectives for Industrial Decarbonisation

Decarbonising steel can unlock sustainable and equitable economic growth pathways for G20 nations. The associated learnings can help inform multidimensional policy perspectives of the economy-wide decarbonisation of industries. Mitigating steel emissions will have a ripple effect on multiple end-use sectors such as automotive, infrastructure and buildings, leading to the decarbonisation of whole systems. The G20 nations’ collective efforts and collaborative thinking can solve the multidimensional challenges in decarbonising hard-to-abate industries such as steel. As a way forward, this brief presents five key recommendations for G20 members to transform ambition into action: • Scaling breakthrough technologies and solutions through dedicated research, innovation, and policy support. • Closing the loops by mainstreaming the circular economy and industrial ecology. • Creating markets for low-carbon products through demand-side measures and procurement policies. • Transitioning to climate-aligned and transition-ready industries by adopting a multidimensional change model for industrial economic transformation. • Shaping the global narrative for industrial transition beyond decarbonisation to economic transformation.