The drive to decarbonise industryA how-to guide for companies November 2023AcknowledgementsSustainable Markets InitiativeFounded by His Majesty King Charles III in 2020, as Prince of Wales, the Sustainable Markets Initiative has become the world’s “go-to” private sector organisation on transition. Launched in 2021, the Terra Carta serves as the Sustainable Markets Initiative’s mandate with a focus on accelerating positive results for Nature, people and planet through real economy action.Energy Transition Task ForceBy invitation, executives from some of the world’s largest and most influential industrial, energy, and financial companies have come together to form the Energy Transition Task Force. This task force is charged with determining how companies from across the energy value chain, individually and collectively, can play a leading role in driving and accelerating the transition to a sustainable future.The Decarbonising Industry Working Group is one of multiple Energy Transition Task Force working groups that serve as a collaborative platform for member companies to identify and develop carbon emission abatement solutions.The Decarbonising Industry Working Group is focused on three of the hardest-to-abate industries — steel, aluminium, and mining. Besides companies from these industries, the working group also includes selected energy and technology companies that are interested in supporting carbon emissions abatement efforts in these industries.In total, there are 11 members in the working group: Mining companies Anglo American and Rio Tinto, aluminium producer Emirates Global Aluminium (EGA), steelmaker Tata Steel, metals producer and trader Glencore, renewable energy producers Masdar, Orsted, Octopus Energy, an...
