A new report from the World Business Council for Sustainable Development (WBCSD) and DNV, a leading decarbonization advisory firm, calls on companies to move their manufacturing operations away from fossil fuels toward electrification by seizing the opportunity provided by heat pumps.
This report highlights market developments and policy trends that signal an increasingly compelling business case for heat pumps. It shows business leaders how to select markets ready for heat pump deployment and key actions to help companies scale up industrial heat pump installations profitably – from combining heating and cooling to leveraging innovative financing mechanisms.
Decarbonization of industrial heat through electrification is key to tackling the climate crisis. Heat used to run industrial processes accounts for 29% of global energy demand and 15% of all greenhouse gas emissions. At a time of geopolitical instability and a steep rise in gas prices caused by the war in Ukraine, there is a growing urgency to move away from fossil fuel consumption and a great opportunity to electrify heat and reduce exposure to volatile natural gas prices.