Green industrial policy for climate action in the basic materials industry

Åsa Löfgren (), Lassi Ahlvik, Inge den Bijgaart, Jessica Coria, Jūratė Jaraitė, Filip Johnsson and Johan Rootzén
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Åsa Löfgren: University of Gothenburg and Luleå University of Technology
Inge den Bijgaart: Utrecht University
Jūratė Jaraitė: Umeå University, Umeå, Sweden and Vilnius University
Filip Johnsson: Chalmers University of Technology
Johan Rootzén: IVL Swedish Environmental Research Institute

Climatic Change, 2024, vol. 177, issue 9, No 14, 12 pages

Abstract: Abstract Historically, the basic materials industry has had relatively low R&D expenditure levels, raising concerns about meeting 2050 climate targets given the crucial need for innovation and technology advancement in this industry. Decisive government intervention and active support for key technological pathways are required to address significant market failures and catalyse industrial decarbonisation. This Essay lays out the economic justification for an active green industrial policy and proposes key policy design principles, with the aim of striking a balance between facilitating the green industrial transition and maintaining cost efficiency in meeting climate targets.

Keywords: Green industrial policy; Basic materials industry; Industrial decarbonisation (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10584-024-03801-7

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