Advance a comprehensive, ambitious policy framework to reduce emissions
Similar to the wider industry sector, decarbonisation in aluminium will require multiple measures:
- Adopting mandatory CO2 emissions policies and expanding international co-operation: domestically this might include carbon prices or CO2 performance regulations, while carbon border adjustments or international sectoral agreements might be considered to limit carbon leakage and level the global playing field .
- Managing existing assets and near-term investment in order to create a smooth energy transition, such as encouraging – and, in some instances, providing public support for – refurbishment to near zero-emission technology to avoid stranded assets.
- Incentivising improved energy productivity such as through standards to increase energy efficiency, recycling and material efficiency.
- Increasing investment in R&D and deployment for near zero-emission technologies essential to decarbonising process emissions from industry, including through direct support for pilots and demonstrations and mechanisms to mobilise private sector finance.
- Improving data collection, tracking and classification systems – this includes aspects such as developing clear and common definitions for low- and near zero-emission production, requiring both industry participation and government co-ordination.