IRENA joins forces with industry leaders to unlock green industrialization opportunities

The International Renewable Energy Agency (IRENA), co-founding partner Siemens Energy and 13 companies across all industry sectors have launched the global Alliance for Industry Decarbonization.

The new alliance aims to accelerate net-zero ambitions and the decarbonization of industrial value chains in pursuit of the Paris Agreement climate goals. It will also work to enhance the understanding of renewables-based solutions and their adoption by industry.

The new coalition was officially launched by adopting the Bali Declaration in the presence of IRENA’s director-general Francesco La Camera and the executive board member of Siemens Energy, Karim Amin, during IRENA’s Investment Forum on Energy Transitions in Indonesia.

Co-founder Siemens Energy has been a major driver for the creation of the alliance and will co-chair the alliance leadership, whose first meeting is planned to take place at COP27 in Sharm El Sheikh, Egypt.

The participation of leading industries can benefit business opportunities for green industrialization and highlights the importance of collaboration in developing strategies and sharing best practices to cut industry emissions, IRENA said.

About 25% of global GDP is produced by the industrial sector, which also emits around 28% of GHG emissions, according to IRENA.

The agency also said the partnerships based on dialogue and actions are crucial for industrial stakeholders to best address the challenges and opportunities of a clean energy transition, adding that a multi-stakeholder platform enabling such exchanges and collaboration can accelerate global climate action.

Francesco La Camera said: “Climate action needs industry leaders. This alliance stands for the growing commitment of global industry to act on decarbonization and unlock opportunities that come with a green industrialization through renewables and other transition-related technologies like green hydrogen. By standing together we send a clear signal of solidarity ahead of COP27 and we invite new partners to join our common vision.”

Karim Amin added: “We need to slash greenhouse gas emissions urgently if we are going to tackle climate change. Accounting for more than a quarter of global emissions, the industrial sector is the second largest emitter and requires rapid decarbonization. In this endeavor, partnerships are crucial.

“With our technologies, we at Siemens Energy constantly seek to create value with our partners toward a low-carbon future. I am convinced the Alliance for Industry Decarbonization will accelerate decarbonization by installing a first-class exchange forum for industry, technology, and knowledge partners.”

IRENA will coordinate and facilitate the activities of the alliance based on its vast experience in hosting similar multi-stakeholder platforms, such as the Global Geothermal Alliance, the SIDS Lighthouses, and the Coalition for Action.

IRENA also offers in-house technical expertise and knowledge on a wide range of policy, regulatory, technology, and finance topics related to decarbonizing end-use sectors, including industrial decarbonization.

Members of Alliance for Industry Decarbonization include co-founding partner Siemens Energy, Enel Green Power, TAQA Arabia, Eni, Technip Energies, EDF Renewables, JSW, Tata Steel, Sable Chemicals, Tatanga Energy, Roland Berger, Repsol, Equinor and TAQA.

IRENA noted the membership of the Alliance for Industry Decarbonization is open to public and private firms and stakeholders operating in energy-intensive sectors that have the ambition to decarbonize their activities along their value chains and companies that have knowledge and expertise in the deployment of energy transition technologies.

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