Read the full report here
New research released today from Climate Group and Ramboll reveals close to 50% of global businesses are prepared to pay a premium for lower emission steel and concrete, signalling a powerful and growing demand for more sustainable materials.
The report, The steel and concrete transformation: 2024 market outlook on lower emission steel and concrete, comes after over 250 companies globally from 42 countries and 21 industries were surveyed on their current readiness to use and willingness to pay for lower emission steel and concrete.
While the outlook is broadly positive, the report also focused on the greatest barriers to adoption, which businesses stated remain cost (84%), industry conservatism (37%), and lack of knowledge (33%).
Respondents were also clear that governments have a significant role to play in supporting them. Financial levers such as tax incentives, credits, and subsidies (69%), carbon pricing (50%) as well as minimum product standards or embodied carbon limits (43%) were identified as crucial policies to be prioritised.
Our Head of Industry, Jen Carson said:
“Business leaders are not only calling for change – they’re enacting it. This report is a real temperature check of the market. It's hugely encouraging to see the appetite is here, now, for organisations to pay a premium for lower emission steel and concrete. Actors across the value chain - suppliers, governments, and investors - should take note.
But there’s deep work to be done to speed up progress. It’s critical that businesses can make the right choices for their operations, and the planet, and switch to lower emission steel and concrete. Governments must listen to their concerns, support their ambition, and act quickly to remove barriers. This way we can unlock corporate demand to drive real sector transformation.”
Our thanks go to Ramboll and the International Energy Agency for their collaboration and support during the research process and in producing this report.
