Time to retire ‘hard to abate’ as climate solutions become more affordable

illuminem summarizes for you the essential news of the day. Read the full piece on Bloomberg or enjoy below:

🗞️ Driving the news: The term "hard to abate" is becoming outdated as technologies to reduce emissions in industries like steel and aviation become more affordable and viable
• Experts argue that continuing to use this term may hinder progress and investment in decarbonization

🔭 The context: Traditionally, "hard to abate" industries lacked affordable technologies to cut emissions, or the costs made their products uncompetitive
• However, advancements in carbon capture, green hydrogen, and renewable electricity are now providing feasible solutions

🌍 Why it matters for the planet: Addressing emissions from these sectors is crucial for meeting global climate targets
• As clean technologies become more accessible, transitioning these industries away from fossil fuels will significantly reduce greenhouse gas emissions

⏭️ What's next: Increased investment in research, policy support, and strategic partnerships will further lower costs and accelerate adoption of low-carbon technologies
Companies and countries are setting net-zero targets, emphasizing the necessity of emission reductions across all sectors

💬 One quote: "There are no longer any so-called hard-to-abate sectors... They will require a carbon price, but it’s an affordable carbon price," said Michael Liebreich, CEO of Liebreich Associates

📈 One stat: Until 2018, there were no big companies or countries with net-zero goals. Now, most major companies and countries have set such targets

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