Aluminium, cement and steel producers must triple their progress on emission intensity reduction in the next five years to align with the goal of limiting global warming to 1.5°C by 2050, according to the World Benchmarking Alliance’s (WBA) inaugural Heavy Industries Benchmark. The assessment of 91 companies found that just 24% have disclosed their expenditure on low-carbon technologies, and 50% scored zero on just transition indicators. There was some progress, however, with 28% of companies having published transition plans encompassing all business operations, and 13% covering the company’s entire value chain. Meanwhile, 23% have incorporated a carbon price calculation, and 8% are aligned with low-carbon scenarios. “Heavy industries provide a massive opportunity to help us reach and ‘cement’ a rapid, just transition – but if the sector does not accelerate action, they will be a significant obstacle to global decarbonisation targets,” said Vicky Sins, Decarbonisation and Energy Transformation Lead at the WBA. “We need strong accountability, leadership and urgent action from aluminium, cement, and steel producers to ensure a just, low-carbon future.”
