Financing decarbonization of heavy industry: May TEC meeting.

Financing a global industrial transition is increasingly being recognized as one of the final frontiers of achieving the Paris Agreement Goals. In this context, the LeadIT Technical Expert Committee (TEC) meeting held on May 24 fostered an engaging dialogue about financing the decarbonization of industry transition in the Global South. The meeting saw participation from representatives from the International Finance Corporation (IFC), Stockholm Environment Institute (SEI), and Avenue Capital.

Vivek Pathak, Director, and Global Head for Climate Business at the IFC, shared his thoughts about what is needed from large financial players on industry transition over the forthcoming seven years. Daniel Duma, Research Fellow at the SEI, presented findings on enabling conditions crucial for successful industry decarbonization projects. Esther Pan-Sloan, Managing Director at Avenue Capital, shed light on potential investment opportunities in low-carbon industry projects, and methods to de-risk investments in emerging markets.

The presentations were followed by a discussion on what is currently missing in terms of policy, capital, and technology for emerging markets to be on their way to net-zero in line with the Paris Agreement.

In addition, the Secretariat also presented the preliminary results of the LeadIT review. A process has gathered input from LeadIT members on how to further advance LeadIT’s mission of achieving net-zero emissions from heavy industry. Ahead of the UN Climate Ambition Summit in New York, LeadIT will convene a high-level LeadIT meeting on 19 September to present the vision and plan for LeadIT 2.0 that will be adopted and launched at COP28.

Looking forward, the TEC meeting scheduled for June 21 will concentrate on innovation and technology co-development. The LeadIT TEC meetings are closed member-only sessions with the aim to encourage frank and informal discussions with invited guests on current topics on industrial decarbonization.

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Industry stakeholders gather in South Africa to map decarbonisation challenges and opportunities in the iron and steel value chain

On 18 April, LeadIT is co-hosting a workshop to discuss challenges and opportunities to decarbonize South Africa´s iron and steel value chain together with the Department of Trade, Industry, and Competition (dtic) in South Africa and Trade and Industrial Policy Strategies (TIPS). The workshop will bring together more than 40 decision-makers and experts from industry, government, and civil society.

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Watch the Launch of LeadIT Summit Statement at COP27

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16 Nov 2022

LeadIT Summit: “Time is up for waiting for each other, we need to move together!”

At the Summit at COP27 in Egypt, LeadIT and its members agreed to promote value chain partnerships and material circularity, deliver on infrastructure pledges, and support industry transition in developing countries.

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15 Nov 2022

LeadIT Members adopt a joint statement following high-level Summit at COP27

The statement highlights 2030 as a critical milestone on the path to net-zero emissions. It notes that LeadIT members will promote partnerships along value chains to strengthen the business case for low-carbon products and their supply.

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30 Aug 2022

Insights from the cement sector decarbonization roadmap workshop in India

Written by Arupendra Nath Mullick, Gökce Mete, Girish Sethi, Somya Joshi

This brief summarizes key takeaways and policy recommendations for cement decarbonization in India emerging from a LeadIT roadmap workshop.

Cement

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8 Jul 2022

Insights from the steel sector decarbonization road-map workshop in India

Written by Arupendra Nath Mullick, Gökce Mete, Girish Sethi, Somya Joshi

This brief offers key sectoral insights and policy recommendations for steel decarbonization in India emerging from a LeadIT road-map workshop.

Developing Countries

Roadmaps for Industry Transition

Steel

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