Advance a comprehensive, ambitious policy framework to reduce industry emissions
As with the rest of industry, decarbonisation in the pulp and paper sector will require multiple measures, including:
- Adopting mandatory CO2 policies covering the industry and expanding international co-operation – domestically this might include carbon prices, while carbon border adjustments or international sectoral agreements might be considered to limit carbon leakage.
- Managing existing assets and near-term investment in order to create a smooth energy transition, such as encouraging refurbishment to near zero-emission technology to avoid stranded assets.
- Maximising energy productivity by accelerating progress in energy efficiency, recycling and material efficiency, which policy makers can incentivise.
- Increasing investment in R&D and deployment for low-carbon technologies required to decarbonise high-temperature heat from industry – this will be essential to eliminate some emissions. Both direct support and mechanisms that mobilise private finance are important.
- Improving data collection, tracking and classification systems – industry participating and government co-ordination are both important here.