Manufacturers that do not produce products with renewable energy and zero-carbon industrial processes may soon find themselves at a disadvantage in the marketplace, Vattenfall chief executive Magnus Hall tells Recharge, as he explains the thinking behind his company’s recent investments in green cement, green steel and green hydrogen.

“Would [manufacturers] be fine with using CO2-heavy materials [such as cement or steel], or are they going to find themselves in a situation where CO2-free materials are available and they are still not [using them]? So you can make the calculation — if you buy fossil-free steel, for instance, it would perhaps increase the total price of a car by 2-3%.”