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Delivering Pathways to Net-Zero Emissions for the Hardest to Abate Global Industries

Heavy industry (cement, steel, chemicals, aluminum), heavy-duty transport (heavy-duty road transport, shipping, aviation) and the automotive sector account for nearly ⅓ of all global emissions and fossil fuel demand. 

Mission Possible, a platform hosted by the World Economic Forum and created in partnership with the Energy Transitions Commission, is working with senior industry executives and trade associations from each sector, policy makers and civil society, to develop actionable plans that identify specific challenges a given sector needs to overcome, and then fosters efforts to make progress. Turning these roadmaps into reality will require an unprecedented level of collective action and ownership by industry leaders, governments and civil society leaders more accustomed to competing than collaborating with one another.  

The bulk of philanthropic contributions to combating climate change focus on policy and advocacy efforts that typically – and often appropriately – push on business to take action.  In order to capitalise upon such activity, Mountain views Mission Possible as a pragmatic attempt to help industrial sectors that must change create a space to figure out the specific mechanics and challenges to doing so.  The WEF, which already organizes senior executive industry groups consisting of the hard to abate sectors – and which also possesses existing ties to decision maker level policy and civil society leaders globally – is in our view well positioned to foster this type of hands on, action oriented, and trackable progress.  

©WEF

The return on investment from Mission Possible is massive.  Transformation by hard to abate industries will both reduce countless tons of GHG emissions annually and critically reduce demand for fossil fuels, helping keep global reduction targets within reach. It will also reduce local pollution, tackle resource efficiency and critically help whole industries transition to a net zero economy maintaining critical jobs and prosperity essential to a just transition.

 If the initiative is successful, it could result in billions of metric tons of CO2 saved per year and at the same time support efforts to wind down our reliance on fossil fuels. Should donors be interested to support either individual sector efforts or the central Mission Possible platform, the WEF team can help identify opportunities for resourcing gaps and plans in the coming year.