Heavy industry way off track on climate, warns TPI

Cement kiln heavy industry from Adobe 17Feb21 575x375
By Jon Hay
17 Feb 2021

The scope for investors to get behind decarbonising some of the most difficult industries was highlighted on Wednesday by a report showing that only 14% of leading heavy industrial companies are aligned with limiting global warming to 2°C by 2050.

Among these promising few are Rio Tinto — alone in the aluminium sector — ArcelorMittal, Posco and ThyssenKrupp in steel, and cement makers CRH, Cemex and HeidelbergCement.

Looking at whether they are on track to be aligned in 2030, an easier measure, 22% of companies are on course — but that ...

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