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‌26-27 November, 2019

The OECD will hold its 2019 Green Growth and Sustainable Development (GGSD) Forum on the theme of “Greening heavy and extractive industries: innovation and fiscal implications”.

The Forum will address how the shift to a circular and low-carbon economy, which is required to meet the Sustainable Development Goals (among others) on Responsible Consumption and Production (SDG 12) and on Climate Action (SDG 13), might impact on future demand and business models of extractive and heavy industries, such as oil & gas, mining, steel and cement, and its innovation and fiscal implications. 

Forum sessions

Context

Efforts to shift to a low-carbon economy and meet the Sustainable Development Goals will require far-reaching transformations of the heavy and extractive industries. Moving towards a low-carbon economy will create challenges and opportunities for governments as well. For countries that rely heavily on extractive sectors for fiscal revenues, the green transition highlights the need for economic diversification and the risk of stranded assets. Countries that are not resource-rich could also face fiscal challenges as the low-carbon transition erodes the traditional tax base represented by the use of fossil energy. Coordinated national and regional policies are crucial to manage the possible structural adjustments due to the lower demand of fossil fuels in hydrocarbon-rich regions, and to ensure the environment and social sustainability of the mining needed for several low-carbon technologies.

Overview

The 2019 Green Growth and Sustainable Development (GGSD) Forum will explore a greener low-carbon future for extractive and heavy industries and discuss its innovation and fiscal implications.  Session 1 will explore the fiscal implications, including the need to identify new sources of revenues and reconsider spending priorities. Session 2 and Parallel Session A will focus on the business and technological innovations required to support the shift of these sectors towards a low-carbon and circular production. Parallel Session B will focus on the role of international trade in ensuring that materials stay in the economy as long as possible (circular economy). Parallel Session C will discuss the challenges and opportunities that the green low-carbon transition creates for regions rich in hydrocarbons and minerals. Finally, the Special High-Level Panel will debate the possible new geopolitical implications of natural resource endowment and the low-carbon transition.

Why a forum on greening heavy and extractive industries?

Material consumption is projected to double between now and 2060. Primary sectors such as heavy and extractive industries face the joint challenge of increasing output while simultaneously decreasing their environmental impact. The GGSD Forum will address the business, financial and environmental implications related to these industries.

Previous GGSD Forums

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