Swedish Deputy Prime Minister Isabella Lovin said Saturday that striving for zero emission is the basis for the long-term industrial success and Swedish businesses have embraced this idea.
At a meeting setting the context for the industry transition program at the Climate Action Summit, Lovin said the upcoming meeting is an “excellent opportunity” to discuss the huge opportunities of industrial transition to low-carbon economy.
She said heavy industry is one of the remaining domains “where we still lack precise plans for how we’re going to go fossil-free.” Hard-to-abate sectors like steel and cement, though essential to our societies, answer for some 30 percent of global emissions.
Tackling industrial emissions is tough but rewarding, she said. “Fossil-free industry can be the backbone of a real development paradigm and building block for a prosperous and sustainable future.”
Speaking of the positive development in her home country, Lovin said the Swedish parliament has adopted a target to reach net zero emission by 2045 at the latest and negative emissions thereafter.
Besides the government’s carbon tax and support for industrial transformation mechanisms, 13 industry branches have developed their own road maps for fossil free competitiveness, including the likes of cement, aviation, steel and forestry, Lovin said, adding seven more sectors are in the pipeline to submit their road maps.
“The industry is embracing this idea not only because it’s the right thing to do, but also because it makes sense,” she said. “Economically, striving for zero emissions will be the basis for their long term success.”