Target 9.2: Inclusive and sustainable industrialization
Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry's share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries
Owners remove an obstacle nothing else removes. Others must also act.
Why shareholder democracy is necessary
UNIDO's Industrial Development Report 2024 finds each manufacturing job can generate more than two jobs elsewhere and that industrial firms hold about 60 percent of green patents. The siting, sourcing and technology-transfer decisions of listed manufacturers are therefore a necessary input to industrialization in developing countries. Corporate lobbying on trade and carbon-border rules shapes where industry locates. InfluenceMap's June 2026 review of 22 steelmakers and 8 associations finds nearly 70 percent show mixed climate policy advocacy that has contributed to weaker policy design. Governments set industrial policy and infrastructure, so owners supply a necessary input and governments must also act.
How this was scoredNecessary
Necessary. Owners remove an obstacle nothing else removes. Others must also act.
We have not yet written down the two answers behind this rating. Recording them on every item, so a reader can check the reasoning and not only the conclusion, is work in progress.
Every rating is the higher of two answers, one for what companies do and one for what they spend to stop the outcome, because the same vote reaches both. See the full method.
Sources
What civil society organizations are helping owners on this
Names ArcelorMittal a focus company in the steel sector, with Nordea Asset Management and AIM BV/AAM UK Ltd as lead investors, and benchmarks its emissions targets, just transition planning and climate policy engagement.
ArcelorMittal S.A. company assessment, Climate Action 100+, 2025-10
1 campaign on record
Set short, medium and long-term emissions reduction targets, publish a just transition plan with worker support commitments, and align direct and industry association climate policy engagement with the Paris Agreement.
Result: Benchmark assessment as of 23 June 2025 finds the company meets net zero ambition, medium and long-term target and governance criteria but lacks a short-term target to 2028 and a comprehensive just transition plan; InfluenceMap rates its climate policy engagement as only partially aligned, with no adequate assessment of industry association alignment.
ArcelorMittal S.A. company assessment, Climate Action 100+, 2025-10
Related subjects on other maps
How this rating was made
Every item on every one of our maps is read against one question: how far does this depend on the people who own companies voting their values? We answer it twice, once for what companies do and once for what they spend to stop the outcome, and take whichever answer is higher, since the same vote reaches both. The score carries its reasoning and its sources so that a reader can check it rather than take it.
- Pivotal. Owners voting their values can deliver most of the outcome.
- Necessary. Owners remove an obstacle nothing else removes, and others must also act.
- Helpful. Owners voting their values help, and others carry most of it.
- Independent. This moves without owners. Other levers carry it.
The advocacy record on this page holds only what a source we opened says happened. Where we searched and found nothing, the page says so rather than leaving a silence. Where a campaign names a filer the source does not name, it says that too. Ratings are ours; the list of subjects is UN Sustainable Development Goals's, and we link to their original.
How we score dependency, in full.