New Sweco report: Europe’s green transition to create a resilient industrial sector
SSweco’s latest expert report describes the progress of European industry in its work to become more resilient and achieve net zero emissions. The steel industry is in the lead, followed by the cement industry. The chemical industry and the transport industry are also in the process of converting to net zero emissions. The report presents opportunities and risks for companies and decision-makers to consider when major investments are now being made, and new technologies such as hydrogen, carbon capture and storage (CCS) and electrofuel are being tested on an industrial scale.
The industrial sector is responsible for 25-30 percent of total global carbon dioxide emissions, and now companies and countries are investing heavily to change their operations. Demand for industrial products is expected to increase significantly over the next 30 years – steel by 30 percent, cement and ammonia by 40 percent and aluminum by 80 percent. The companies in these industries, where emissions are difficult to reduce, must now meet demand in a sustainable way.
– Sweco’s analysis is based on the Leadership Group for Industry Transition (LeadIT) database and shows that Europe is taking the lead globally in the green transformation of the industrial sector. As much as 95 percent of the full-scale cement projects in the world are carried out in Europe, as well as 61 percent of all fossil-free steel projects. There are several reasons why this is happening right now: Higher prices for carbon dioxide emissions, new investments, regulations, the EU regulation on net zero industry and a higher demand for sustainable products from end customers, says Erik Skogström, division manager for Industry and Energy at Sweco in Finland .
Sweco is a trusted advisor in some of Europe’s most ambitious large-scale industrial projects to reduce carbon dioxide emissions, including energy supply and efficiency as well as energy storage using hydrogen and hydropower such as battery technology, CCS and industrial circularity.
Sweco’s report contains the following insights:
• Regulations and funding are falling into place – but is it enough?
• The steel industry is in the lead, followed by the cement industry
• CCS/CCU – a necessary complementary solution
• The electrification revolution, powered by renewables, hydrogen and batteries
• Resource efficiency and circular industrial processes
• Industrial cooperation and new business models
About Sweco’s Urban Insight
Urban Insight is a series of insight reports written by Sweco’s experts on various aspects of urban development from a citizen’s perspective. The new report is available here.
