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Sectoral Approaches:
What can the Steel Sector tell us?
Peter Wooders, Senior Economist ([email protected])
Lucy Kitson, Economist ([email protected])
13 October 2011
Steelmaking & Climate Change
The challenge
World steel consumption
will double by 2050
Ambition to cut CO2 emissions
by at least 50 % by 2050
Mitigation from available technologies/techniques
Is carbon changing trends?
- continues to trade with its near neighbours
Investment highly cyclical, based on cash flow
Policymaker’s Guide to Energy Intensive Industries
The Relative Importance of Climate Change Policy and Carbon Dioxide
Long term (investment) leakage is the key
What’s the breakthrough technology?
Resources are available for RDD&D
A collaborative approach to technology
development and implementation*
a. Mechanism to be
b. How finance would be
c. What the targets should be
Plan, based on existing initiatives.
National level default
Need more than current level – via
Basic Law ‘Environment Tax’ + ??
Financial targets, every 5 years
d. Whether offsets should be
Perform a feasibility study.
Recommendation: exclude
e. Who should be responsible Devolve to companies
for meeting the target
*Favoured option for a Sectoral Approach,
Agreement and Mechanism (SAAM)
2030 – options and needs
70th Session of the
OECD Steel Committee