Thread by @garveygreen

Yesterday we released our independent @CREDS_UK report for the @theCCCuk on industrial decarbonisation policy.

Here are some highlights from our research on policy mechanisms that could be used to achieve #NetZero aligned industrial emissions.

#UKCarbonBudget @SRILeeds

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To evaluate the landscape of current industrial decarbonisation policies, we created a database and timeline documenting around 40 active policies in this area.

The database can be downloaded at: creds.ac.uk/publications/i…

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We also carried out a comprehensive literature review to identify future policy mechanisms - developing a 'typology' of possible instruments to use to reach #NetZero. A simplified version is below:

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We identified that a ‘policy package’ approach could build strategic oversight into the policy pathway to 2050.
 
Policy packages would link an overarching carbon policy with complementary policies addressing each of the other challenges for industrial decarbonisation...

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Challenges include:

✅ Providing a carbon reduction signal + mechanisms to mitigate carbon leakage
✅ Deploying and coordinating infrastructure
✅ Improving energy performance of existing tech/assets
✅ Incentivising innovation
✅ Improving material + product efficiency

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A key challenge in every policy future is achieving a #JustTransition.
 
We reviewed the ‘enabling policies’ with a socioeconomic focus that could create low-carbon employment in the sectors and regions where it is most needed, supporting a #GreenRecovery.

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We concluded that: 

✅ Policy must address multiple challenges to decarbonisation, going beyond an overarching carbon reduction mechanism.
✅ There are no ‘policy panaceas’, and solutions must be flexible and adapt over time.

However...

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The urgency of the climate crisis and the need to accelerate industrial emissions reductions demands a rapid policy response.
 
Action is needed now, and so we hope our report can provide some guidance towards decarbonising UK industry in line with #NetZero.

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If you're still making your way through the 1000 page CCC #UKCarbonBudget analysis, a briefing paper of our report can be found here:
creds.ac.uk/publications/b…

And the full report is available here: creds.ac.uk/publications/i…

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