Yi-Chun Lin, Assistant Research Fellow, RSPRC
In the face of global climate risks, it is an international trend for the energy-consuming industries to transition to a low-carbon sustainable business model. Taking two high energy-consuming industries, petrochemical and steel industries, as examples, this paper suggests that the key point of their transformation strategies is the increase of energy efficiency, emission efficiency and material efficiency. The trilateral pressure—national regulatory and incentive policies, peer competition, and supervision from civil society—will accelerate the industrial transformation.