COP27 was a two-week whirlwind of discussions, themes and initiatives with global leaders, industry figureheads and 40,000 delegates debating every conceivable environmental issue at Sharm El Sheikh, in Egypt.
Progress was made after Glasgow’s gathering last year, notably at the eleventh hour, with a breakthrough agreement to provide ‘loss and damage’ funding for vulnerable countries hit hard by climate disasters. Yet the resounding message, amid accelerating climate challenges and shortening time to tackle them, was the world needs to move faster to meet Net Zero targets.
Power, renewables and industry underpinned many of the discussions during COP27, especially across the dedicated Decarbonisation and Energy days.
With more than 30% of global greenhouse gas (GHG) emissions and nearly 40% of global energy consumption, the industrial sector is the second-largest emitter after power generation. Responsible for 7% of global carbon dioxide (CO2) emissions, the steel industry in particular will require the increased use of electricity, hydrogen and CCUS to support its decarbonisation.
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