Green industrial policy for climate action in the basic materials industry
Publication date
2024-09
Authors
Löfgren, Åsa
Ahlvik, Lassi
van den Bijgaart, Inge
Coria, Jessica
Jaraitė, Jūratė
Johnsson, Filip
Rootzén, Johan
Editors
Advisors
Supervisors
Document Type
Article
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Abstract
Historically, the basic materials industry has had relatively low R&D expenditure levels, raising concerns about meeting 2050 climate targets given the crucial need for innovation and technology advancement in this industry. Decisive government intervention and active support for key technological pathways are required to address significant market failures and catalyse industrial decarbonisation. This Essay lays out the economic justification for an active green industrial policy and proposes key policy design principles, with the aim of striking a balance between facilitating the green industrial transition and maintaining cost efficiency in meeting climate targets.
Keywords
Basic materials industry, Green industrial policy, Industrial decarbonisation, Global and Planetary Change, Atmospheric Science, SDG 9 - Industry, Innovation, and Infrastructure, SDG 13 - Climate Action
Citation
Löfgren, Å, Ahlvik, L, van den Bijgaart, I, Coria, J, Jaraitė, J, Johnsson, F & Rootzén, J 2024, 'Green industrial policy for climate action in the basic materials industry', Climatic Change, vol. 177, no. 9, 147. https://doi.org/10.1007/s10584-024-03801-7