Ground-breaking analysis finds that the circular economy could make it possible to keep global warming below 2°C.
Pioneering study shows how circular business models, recirculation of materials, and greater material efficiency of products are key to building a competitive, net zero emissions industrial economy in Europe.
The study conducted by Material Economics explores a broad range of opportunities for steel, plastics, aluminium, and cement and two large use segments for these materials (passenger cars and buildings). The measures identified could reduce EU industrial emissions by 56 percent (300 Mt) annually by 2050, more than half of what is necessary to achieve net zero emissions. Globally, the reductions could be 3.6 billion tonnes per year in the same period. Industry accounts for 24% of global CO2 emissions, which stood at 37 billion tonnes in 2017. The carbon budget to limit global warming below 2°C has been estimated at 800 billion tonnes by the end of this century.