Industry • The promise of disruptive technologies doesn’t match the needs for industry to decarbonize
After years of teething troubles, two technologies have found new impetus from governments and investors to respond to the challenge: hydrogen, and carbon capture and storage. At the same time, States increasingly compete to access strategic minerals for the transition of industries.
Hydrogen, CCS… disruptive technologies remain marginal and dependent on fossil fuels
- Global CO2 emissions from industry rose slightly between 2015 and 2022, driven mainly by energy combustion.
- Long ignored, CO2 capture and storage is once again mobilizing investors – especially oil companies, who are extending the life of depleting wells. Installed and developing capture potential remains very low.
- Despite growing political and financial investment since the post-pandemic recovery plans, “green” hydrogen production processes and its decarbonized uses are still limited, and depend on the availability of a decarbonized electricity mix.
- The quest for industrial sovereignty over metals strategic to the transition is defining the contours of a new geopolitical map of raw materials between industrialized countries, China who dominates the value chains, and emerging countries rich in natural resources (Indonesia, DRC, Bolivia…).