We need to do much more to bring emissions to zero by 2050 and hence curb the damaging effects of climate change. It means that we must invest heavily in the solutions that will get us to that goal.
The aim of this project is to provide a comprehensive and modular database of ready-to-go solutions for the next investment cycle in energy intensive industries.
The project is structured into independent blocks defining an activity or technology which, under certain conditions, has the potential to reduce emissions in the steel, cement and chemical industries. For some technologies, specific sustainability criteria and infrastructure needs are defined.
The overall goal of this project is to provide a comprehensive and modular database of ready-to-go solutions for the next investment cycle in energy intensive industries.
The project aims to create a specific package of options that could be picked from the shelf to be added to the recovery packages planned by the EU – and to be complementary to policies such as the EU Sustainable Finance Taxonomy.
How does it work?
climate scoreboard explained
The activities and technologies in this report are evaluated according to their contribution to climate change mitigation. To account for their systemic effects, we've also looked into their resource efficiency and deployment readiness. All of the criteria are on a scale from 1 to 10 - the higher the score, the better the solution performs.
If we are to successfully mitigate damaging climate change, we need to make sure that the emissions from all parts of our economy are reduced to zero.
The ‘Climate change mitigation’ criterion describes emission reductions caused by a given solution. The reduction in emissions is measured by comparing the activity or technology to the conventional production of steel, cement and chemicals. The scale of emissions reductions ranges from full emissions (score 0), where none of the emissions are reduced, to 100% reduction of emissions compared to business as usual (score 10).
BETTER USE OF RESOURCES
Efficient use and reuse of resources is not only the bedrock of climate change mitigation, but also the basis for achieving other environmental goals. This criterion measures the efficiency of resource use of a given technology. All physical resources such as materials, land, water and electricity are considered in this category. By describing the requirements for a certain technology and its systemic effects on the rest of the system, the criterion assesses the impact on the entire system. The scale of resource efficiency ranges from 0 (high use of resources) to 10 (no resources required).
READY FOR DEPLOYMENT
Finally, the maturity of the various tools we use will determine the timeline of our climate action efforts.
The ‘Deployment readiness’ criterion is an indicator not only for the maturity of the technology analysed, but also for the availability of conditions needed for its sustainable deployment. For instance, for hydrogen both electrolysis maturity and the availability of renewable electricity are considered. The scale of deployment readiness ranges from 0 (low TRL, no conditions) to 10 (high TRL, all conditions present).
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Carbon capture and storage