Having adopted the Paris Agreement in 2015 and committed to meeting Net Zero goals at COP26 in Glasgow last year, a range of energy intensive sectors proposed plans, policies and actions detailing their methods to reduce carbon footprints and accelerate towards a carbon-neutral world. At COP27, held in Sharm al-Sheikh, Egypt, the newly formed Alliance for Industry Decarbonisation outlined six key areas to accelerate decarbonisation.
Under the theme ‘Decarbonisation Day’, the fourth day of COP27 saw top executives from the 28 member companies and knowledge partners of the Alliance for Industry Decarbonisation hold the group’s maiden meeting. Formed of leading companies across all industry sectors, the meeting focused on six pillars and enablers of the energy transition.
By deploying renewables such as solar and wind, green hydrogen, bioenergy with carbon capture, utilisation and storage (BECCS), heat process optimisation, human capital and finance across the industrial sector, the Alliance hopes to limit the global temperature rise to 1.5C.
With more than 30% of global greenhouse gas (GHG) emissions and nearly 40% of global energy consumption, the industry sector is the second largest emitter after power generation.
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