PARIS (AP) — Just back from the U.N. climate summit in Egypt, French President Emmanuel Macron is to satisfy Tuesday with the heads of the country’s most climate-damaging industries to pressure them to cut back greenhouse gas emissions, amid growing competition from the U.S. and China.
The meeting on the Elysee presidential palace in Paris goals at accelerating the reduction of carbon emissions — which requires recent technologies and investments value billions of euros (dollars). Macron is anticipated to supply details about potential state aid to assist polluting industries to act.
The move comes sooner or later after Macron called on the world’s nations to “proceed to take motion” to answer the climate emergency on the COP27 in Sharm el-Sheikh, Egypt.
Industry represents about 20% of France’s national greenhouse gas emissions. Some 50 industrial sites in France, which account for over half of those emissions, are owned by about 30 French and international groups, whose leadership has been convened to the Elysee. They include major producers of cement, steel, aluminum and other metals and chemicals.
Changes within the sector are key to meeting the goals set by the European Union to diminish by no less than 55% greenhouse gas emissions by 2030 from 1990 levels and reach carbon neutrality by 2050.
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Yet the transition toward recent, greener technologies is dear and France and the European Union wish to avoid seeing big industries leave the continent and as a substitute spend money on other parts of the world, just like the U.S. and China, the Elysee said.
The challenge is made even harder as industries are already affected by the foremost energy crisis aggravated by Russia’s war in Ukraine.
U.S. President Joe Biden’s administration this summer passed a bill that gives billions in climate incentives, notably designed to make costs of renewable energy substantially lower in factories. The move could spur other nations to do more — especially China and India, the 2 largest carbon emitters together with the U.S.
China, which has set a long-term goal to develop into carbon neutral by 2060, last 12 months launched its first national carbon exchange in a step meant to create financial incentives for firms to cut back emissions.
Amongst those represented in Tuesday’s meeting are the French subsidiaries of the world’s biggest cement groups, Holcim — owner of Lafarge France — and HeidelbergCement. Top managers from chemicals producers Solvay, Borealis, ExxonMobil Chemical France and Total Petrochemicals France will even attend, in addition to global steel producer ArcelorMittal.
A French presidency official said that the indisputable fact that “all these emissions are generated on a comparatively small number of web sites obviously offers a perspective on the power to de-carbonize them. It also shows how huge the duty is.”
The aim is to get industries on French soil which can be in a position to make carbon-free products or no less than drastically reduce emissions, he stressed. The official spoke anonymously in step with the French presidency’s customary practices.
Corporations promoting solutions to cut back carbon emissions, like clean hydrogen and carbon sequestration, will even attend the meeting.
Macron has launched plans to speed up the event of renewable energy within the country, including offshore wind farms and solar energy as France is lagging behind a few of its European neighbors.
He also announced earlier this 12 months that France will construct six recent nuclear reactors as a part of the country’s strategy to cut back greenhouse gas emissions. France’s nuclear power provides about 67% of French electricity, greater than another country.
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