Since the establishment of the World Trade Organisation (WTO) in the 1950s, the volume of globally traded goods has increased by a factor of 45. Energy-intensive basic materials are particularly heavily traded. Aligning essential standards and definitions and coordinating global efforts in the decarbonisation of industry is necessary for a successful global transition to net zero. To this end, Agora Industry engages in several platforms like the Industrial Deep Decarbonization Initiative (IDDI) as well as work under the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development (OECD), and the G7 climate club. We propose pragmatic and effective solutions to issues like carbon leakage and provide expert guidance on global standards for emissions measurement and reporting and definitions for materials such as green steel and cement.