Accelerating Industrial Decarbonization in China

The document highlights the critical role of China's iron and steel sector in the global carbon budget, noting that current emission trajectories could exhaust the sector's projected budget in 5-12 years. It advocates for the development of industry-level targets derived from China's national goals of carbon peaking by 2030 and carbon neutrality by 2060, supported by technological feasibility assessments and synergistic mechanisms involving trading, financing, and carbon asset management.

• The global iron and steel industry is projected to consume between 4.8% and 10.9% of the 400 gigaton global carbon budget allocated for the next 30 years to maintain a 67% chance of limiting warming to 1.5°C; however, at current emission rates, the budget for steel may be exhausted within 5 to 12 years.
• China's iron and steel companies are essential to achieving both China's national climate goals—carbon peaking by 2030 and carbon neutrality by 2060—and global industry emissions reductions, as China produces more than half of the world's steel.
• To implement emissions reduction initiatives, the report suggests that companies utilize synergies between carbon asset management-based mechanisms, financing, and trading.

APA

RMI (2024). Accelerating Industrial Decarbonization in China. https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/

Chicago

RMI. Accelerating Industrial Decarbonization in China. 2024. https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/.

Wikipedia

{{cite report |author=RMI |title=Accelerating Industrial Decarbonization in China |date=18 June 2024 |url=https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rmi2024accelerating, author = {{RMI}}, title = {{Accelerating Industrial Decarbonization in China}}, institution = {RMI}, year = {2024}, month = jun, url = {https://rmi.org/resources/accelerating-industrial-decarbonization-in-china-key-climate-actions-for-iron-and-steel-companies/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }