New report: Europe’s green transition toward a resilient industry sector
In the latest Urban Insight report ‘The race towards a green and resilient industrial sector’ Sweco experts take a deep dive into the leading sectors in the green transition, highlighting key drivers, investments, and the latest technologies, as well as the potential new risks for companies and decision makers to consider.
Driven by the green transition, a rapid transformation of all industries is underway, with many innovative solutions reshaping every sector. The industrial sector, responsible for 25-30% of global CO2 emissions, is at the heart of this transition.
The report covers the following key areas:
- Regulations and capital are falling into place – but is it enough?
- The steel industry takes the lead, cement industry runner up
- CCS/ CCU – a necessary complementary solution
- The electrification revolution, spurred by renewables, hydrogen and batteries
- Resource efficiency and circular industrial processes
- Industrial symbiosis and new business models
Demand for industrial products is expected to increase significantly over the next three decades — steel by 30%, cement and ammonia by 40%, and aluminium by 80%. Companies in those hard-to-abate-industries are now required to deliver on that demand in a sustainable manner.
Sweco’s analysis shows that Europe is taking the global lead in the green transition of the industry sector, as 95% of the full-scale projects in green cement worldwide are done in Europe, as well as 61% of all fossil-free steel projects. There is a number of reasons why this is happening right now: Higher prices for CO2 emissions, new investments, regulations, the EU Net-Zero Industry Act, and stronger demand for green products from end customers, says Erik Skogström, Division Director Industry and Energy at Sweco in Finland.
In the report, Sweco’sexperts outline the progress of European industries’ race towards net zero.
The steel industry has the lead, with the cement industry being next up. The chemical and transport industries are also undergoing important transformations towards net zero. As significant investments are made and new technologies such as hydrogen, CCS, and electrofuels are tested on industrial scale the report presents opportunities and risks to consider in the transition.
Read more about insights and actions in Sweco´s new Urban Insight report ‘The race towards a green and resilient industrial sector’ and download the report.
