Industrial Decarbonization Is Good for Business
BOSTON—It is not easy to be optimistic about climate change nowadays. In the United States, President Donald Trump’s administration has eliminated incentives for clean-energy investment, slashed funding for numerous private-sector projects, and rescinded long-standing rules limiting greenhouse-gas (GHG) emissions from vehicles and power plants. Even in Europe, a longtime climate-policy leader, deadlines are being pushed back and compliance obligations reduced as other challenges, like the war in Ukraine, take priority.
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Fortunately, these developments do not tell the whole story. The global industrial sector, which generates about one-third of GHG emissions, is quietly making significant progress. Over the past year, our team at MIT has looked closely at multinational companies that are pursuing industrial decarbonization strategies despite global headwinds. What we frequently found were firms that are increasing........
