The Mission Possible Platform is a coalition of businesses and expert organizations (and governments) committed to reducing heavy industry greenhouse gas (GHG) emissions by creating and delivering technology, policy, and financing solutions.
The Paris Agreement has strengthened the global response to climate change for limiting the rise of global temperatures to well below 2°C above preindustrial levels.
The leading international body for the assessment of climate change, the Intergovernmental Panel on Climate Change (IPCC), released a Special Report in 2018 urging the world to aim for 1.5°C and achieve net-zero CO2 emissions globally by 2050 to avoid even more dramatic consequences of climate change.
Responsible for nearly a third of global energy CO2 emissions, which are expected to double under business-as-usual scenarios, heavy industry (cement, steel, chemicals) and heavy-duty transport (heavy-duty road transport, shipping, aviation), have a vital role to play in halting global average temperature rise.
These economic sectors are referred to as “hard-to-abate” because they often have relatively higher abatement costs than the rest of the economy.
However, is technically and economically possible for hard-to-abate industrial sectors to reach net-zero emissions by 2050 at a cost to the economy of less than 0.5% of global GDP and with minor impact on consumer living standards.
The Energy Transitions Commission published the “Mission Possible” report in 2018 outlining its feasibility. But, achieving this will require policymakers, investors, and businesses jointly to take immediate and bold action.