Barriers and Pathways
It is highly unlikely that the free market as currently configured will lead to evolution of a production system for steel and aluminium goods in 2050 that will meet the required emissions targets. The key problem is growth in demand, but attempts to drive change are also constrained by the relative costs of labour and materials, the relatively low price of energy and the fact that environmental impacts are economic externalities to the operation of businesses in the steel and aluminium supply chain.
This theme of WellMet2050 will examine the policy options open to national and international government to motivate a change to a low carbon steel and aluminium economy. Using macro-economic modelling and through detailed stakeholder interviews, the effect of a wide range of policy options will be explored and evaluated, and appropriate pathways for the wider implementation of case studies which show the potential for a cut in carbon emissions will be identified.