U.K. Investing Big to Cut Emissions
The U.K. government announced an investment of approximately $403 million in late 2019 to help energy-intensive businesses in heavy industry, which includes steel- and iron-making facilities, reduce their energy bills and lower their carbon emissions.
The goal of the Industrial Energy Transformation Fund (IETF) is to get government carbon emissions to net zero by 2050. It is expected to shrink industrial emissions by around 2 million metric tons between 2028 and 2032.