US$13.5 trillion investment needed to decarbonise heavy industry
Another US$11 trillion will also have to be spent by companies to retrofit existing assets with clean technologies.
Decarbonising steel, cement, aluminium, ammonia, oil and gas, aviation, shipping and trucking â sectors responsible for 40% of global greenhouse gases â will require US$13.5 trillion of new investment by 2050.
Most of the investment should go towards âthe electrification of low to medium temperature industrial processesâ, which involves clean power, clean hydrogen and carbon capture, utilisation and storage (CCUS), according to the latest Net-Zero Industry Tracker published today by the World Economic Forum (WEF).
