International Trade and Industrial Decarbonization: Part II
16:15- 17:15 CEST, 10:15- 11:15 EST
How might trade policies, carbon border adjustment measures, and climate club discussions provide opportunities for industrial decarbonization?
This conversation focused on how policymakers, regulators, and industry could work together to accelerate decarbonization of industrial products, such as steel and aluminum. How can the United States deepen collaboration with Europe on devising strategies that involve major producing countries, coordinate on decarbonization strategies and address the need to revise and harmonize potential trade barriers to such cooperation? Do existing mechanisms for negotiation - the Trade and Technology Council, the Sustainable Steel and Aluminium negotiations, IDDI, OECD, WTO - offer opportunities to advance these discussions, or does a new plurilateral framework need to be initiated? What are the key levers for cooperation: public purchase; aligned investment; border carbon tariffs; commitments to switch to new lower-carbon technologies, agreement to coordinate subsidies and incentives, multi-lateral mandates following the principal of common but differentiated responsibilities (i.e., individual country NDCs to end new or reconditioned blast furnaces by 2025, 2028 or 2030); joint commitments to new green hydrogen siting and financing, and offtake of product?
Watch the recording of this event hosted by Climate Advisers, the Atlantic Council and Stiftung KlimaWirtschaft to gain insights into the latest developments on how North America and Europe can collaborate to solve challenges in hard-to-abate sectors.
- Malte Bornkamm, Head of the Division for Industrial Decarbonization, German Federal Ministry for Economic Affairs and Climate Action
- Matthew Porterfield, Vice President, Policy and Research, Climate Leadership Council
- Kevin M. Dempsey, President and Chief Executive Officer, American Iron and Steel Institute
- Till Kötter, Head of European and International Policy, Stifung KlimaWirtschaft
- Erika Mink-Zaghloul, Head of Governmental Affairs, thyssenkrupp Steel Europe AG
- George Frampton, Distinguished Senior Fellow and Director, Transatlantic Climate Policy Initiative, Atlantic Council