Industrial decarbonization is essential to fighting climate change, and doing it right is essential to our economy. Consequently, governments, private companies, investor groups, nonprofits, and other organizations are calling on industry to reduce greenhouse gas (GHG) emissions to net zero by midcentury. Energy efficiency should be the foundation of this transformation because it can immediately and simultaneously reduce emissions, cut costs, and provide many other benefits. While manufacturing companies must be the driving force, coordination with utilities, labor, and government will increase industry’s ability to implement a low-carbon transformation. Focusing on manufacturing, this report describes areas of opportunity where emission reductions can be most easily accelerated and explores public policies that can help solve technical, market, and economic challenges.