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European manufacturing sector needs transformation to reduce emissions & fight climate change, says NGO

"European heavy industry can no longer dodge climate action", 22 February 2018

[T]he future of European manufacturing sector [is] topping the agenda at various events across the EU [this week]. The key challenge is how heavy industry can thrive in a climate-safe future and reach net-zero emissions by 2050 – a necessary goal to make the Paris Agreement a reality.

So far, the industry has avoided efforts to transition to carbon-free societies...

New ways of thinking, from circular economy to a technological shift with break-through solutions are necessary to completely transform the way these sectors work and produce...

Such a transformation, however, is costly and risk-intense, and will not take place without smart and committed public policies. Governments’ support will be vital to bolster industry innovation...

The regulatory framework in Europe is currently designed to protect the incumbents and the status quo instead of supporting innovative industry newcomers...

[T]he investment decisions determining where we will be in 2050 will be taken in the next 5-10 years. The urgency is underlined by the climate reality: our carbon budget [...] is quickly running out.