This report has been commissioned by the European Climate Foundation. It is part of the Industrial Transformation 2050 project and the Net-Zero 2050 series, an initiative of the European Climate Foundation with contributions from a consortium of experts and organisations.The mission of Industrial Transformation 2050 is to co-develop,together with basic manufacturing and manufacturing industry and other stakeholders,pathways and policy options to enable a net-zero heavy industry in Europe by 2050, in line with the objectives of the Paris Ag-reement, while strengthening industrial competitiveness and the EU’s overall economic development and performance.

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Key messages

An industrial strategy for climate neutrality

  • Align innovation, lead markets, circular economy, infrastructure and investment instruments into a comprehensive industrial strategy
     
  • This strategy will haveto be mission oriented, with low-carbon innovation and deployment at its heart.
     
  • It will have to go beyond maintaining existing industrial relationships and value-chains and strive towards an innovative new industrial ecosystem.
     
  • The strategy must be forward looking with a focus on creating and shaping new markets and business models.
     
  • It must be protective of industrial value chains in transition.
     
  • Finally, along-term transformation of this scale will require solid and integrated governance and leadership to be successful.