Industrial Transition Accelerator (ITA)

The ITA has announced a new MENA Project Support Programme with signatories from the UAE Ministry of Industry & Advanced Technology | ????? ??????? ???????????? ???????? (MoIAT) and Ministry of Industry and Commerce of Bahrain. Signatories (L-R): Dr. Khaled Fahad Alalawi (DBA), Assistant Undersecretary for Industrial Development at the Ministry of Industry & Commerce of the Kingdom of Bahrain; H.E. Abdulla Adel Fakhro, Minister of Industry and Commerce of the Kingdom of Bahrain; H.E. Dr. Sultan Al Jaber Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President; and ITA Co-Chair, James Schofield, Deputy Director, Industrial Transition Accelerator. This partnership is a significant step in mobilising critical investments and accelerating the region’s transition to a sustainable industrial future. Abdulla Adel Fakhro, Minister of Industry and Commerce, the Kingdom of Bahrain: “We are delighted to be the first partner to join the ITA along with the UAE in the MENA Project Support Programme in this critical initiative to expand green industry in the region. Being part of this reaffirms our commitment towards promoting sustainable manufacturing in line with our Industrial Sector Strategy (2022-2026). The opportunities are vast and exciting and the need to advance this industry is urgent to accelerate our efforts to achieve carbon neutrality.” Corporate partnerships: The following UAE companies are the first to sign formal agreements to work with the ITA as part of the MENA programme: Emsteel Industries LLC , Emirates Global Aluminium (EGA) and Arabian Gulf Steel Industries LLC (AGSI). At the recent ADIPEC event in Abu Dhabi, high-level representatives from these leading UAE corporations and project developers shared their insights on overcoming barriers to decarbonisation. With thanks to Eng. Saeed Al Remeithi, Group Chief Executive Officer of EMSTEEL Industries, Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, and Asam Hussain, CEO of Arabian Gulf Steel Industries. The ITA’s MENA Project Support Programme focuses on fast-tracking deep decarbonisation projects to final investment decisions. ?? The vision: To bring large-scale industrial projects to life, reaching final investment decisions by 2026 and contributing significantly to MENA's 2030 NDC targets. #GreenIndustry #Sustainability #Partnership #MENA #IndustrialTransition #NetZero

Launched in December 2023 at #COP28, the ITA is a global multi-stakeholder collaboration with a mandate to unlock investments and turbocharge the delivery of #decarbonisation solutions across heavy industry and transport. As #COP29 begins, it's important to reflect on the scale of the climate challenge we face. Six key high-emitting industry and transport sectors - Aluminium, Cement, Chemicals, Steel, Aviation, and Shipping - account for roughly 30% of global emissions. For these sectors to be on the right decarbonisation trajectory we need 700 clean industrial plants to be up and running by the early 2030s. We're not currently investing at the right pace. COP29 is hugely important for us to get things on track. #IndustrialTransition #NetZero?

Rousing and important messages from our colleagues at Global Optimism. Ambitious outcomes at COP29 remain vital indeed.

?? Upcoming #COP29 event: Unlocking bankable green industrial projects ??? ? Join us as the ITA, in collaboration with the Brazilian and UAE Governments, hosts a pivotal roundtable on deep #decarbonisation.?? ? This 90-minute session will highlight how the ITA’s Project Support Programmes are guiding essential heavy industry and international transport decarbonisation projects towards final investment decisions across Brazil and the UAE.? ? Key speakers will include representatives from Brazil's Ministry of Development, Industry, Trade, and Services (MDIC) and the UAE's Ministry of Industry & Advanced Technology | ????? ??????? ???????????? ???????? (MoIAT), who will present the economic promise of green industrialisation.?? ? Attendees will also gain insights from select project developers working with ITA to advance sustainability goals for 2030 and beyond.? ? ??? Date: Saturday, 16 November? ?? Time: 17:00-18:30 Azerbaijan time?? ?? Location: Mugham Room, Blue Zone, COP29? ? Don't miss this chance to explore how green industrial projects can shape a net-zero future. ?? #SustainableIndustry #GreenFinance #Decarbonization #NetZero

A good wrap for a successful week at ADIPEC Exhibition and Conference in the Middle East Energy Club! Congratulations for the launch of Industrial Transition Accelerator (ITA) MENA under the patronage of Dr. Sultan Al Jaber, in an event co-hosted by Ministry of Industry & Advanced Technology | ????? ??????? ???????????? ???????? ! A big leap forward before COP29 Azerbaijan as part of #UAEConsensus. Principes Global Climate Fund we look forward to working with our colleagues Mission Possible Partnership in #MENA, #Brazil and all #emergingmarkets! Gustavo Cortes de Lima Principes Partners James Schofield Nabil Ayoun MSc MEng Marcin ?cigan Marc Farre Moutinho John T. Colas Fatma H. Karim Doughan Charlie McLellan Kinza Mishal

Join us at #COP29 to drive forward the global transition to clean technology ?? On Thursday, 14 November, the ITA and Breakthrough Agenda will co-host a high-level event, bringing together ministers, industry leaders, and senior decision-makers to discuss the urgent need for a new level of international collaboration. From clean power to transport and buildings, this event will showcase the significant progress in decarbonisation while highlighting where global co-operation is essential to support all regions, especially Emerging Markets and Developing Economies. The event’s three sessions will explore: 1. Global sector transitions, ensuring no region is left behind 2. Bankable clean projects, with a focus on demand-stimulation policies 3. Collaboration from R&D to finance, to accelerate the journey from innovation to implementation ??? Date: Thursday, 14 November ?? Time: 15:45-18:45 Azerbaijan Time ?? Location: Special event room 5 “Nasimi”, Climate Action Zone, Blue Zone Open to all Blue Zone badge holders so mark your calendars to join this critical discussion. #COP29 #CleanEnergy #IndustrialTransition #GlobalSouth #NetZero

With #COP29 fast approaching, join the #BreakthroughAgenda and the Industrial Transition Accelerator (ITA) for a main stage event, where international collaboration will take centre-stage. ?? This event will bring together Ministers and senior decision-makers from key international organisations to address the urgent need for a gear shift in international collaboration and collective action to accelerate the deployment of clean technologies across power, industry, transport and buildings sectors. The event will showcase the collective progress being made, the shared high ambitions for the year ahead and the areas where strengthened collaborative action is most urgently needed to help all regions and in particular Emerging Markets and Developing Economies. The event will take place on 14th November, 3.45-6.45pm (Azerbaijan Time) in the Blue Zone: Nasimi room. The live event is open to all accredited COP29 participants. Don't miss your chance to be part of this important conversation. #NetZero #ClimateChange

OUT NOW ?? The 2024 Business Breakthrough Barometer by WBCSD – World Business Council for Sustainable Development provides a warning from business leaders across 11 critical sectors, that without long-term investment-positive government policies, the next wave of large-scale investments in the net zero transition is at risk ?? . The report is the first annual pulse check from leading businesses on the opportunities and challenges of the net zero transition, and where governments need to focus effort to create stronger market incentives. Released ahead of the COP29 climate summit ??, this is a call for Governments to act now with bold policies to enable this new wave of opportunity. Read the full report and sector breakdowns ?? www.wbcsd.org/barometer This report was launched with the support of Bain & Company, Breakthrough Agenda, the Marrakech Partnership and Race to Zero. #BusinessBreakthroughBarometer #COP29 #BusinessAction #NetZero

?? Global Energy Monitor & Leadership Group for Industry Transition (LeadIT) have just published some new data on the state of corporate climate targets in the #steel sector. Less than half of the the top 50 steel producers have a #netzero target. To speed up action, we need their business environment to incentivise climate action more than it does! Stay tuned as Mission Possible Partnership & Industrial Transition Accelerator (ITA) prepare to release new datapoints on the global pipeline of green industrial projects & new recommendations at #COP29! https://lnkd.in/e9T8GaU7

Analysis recently shared by the ITA revealed that $700bn of investment could flow into green heavy industry pipelines worldwide if demand for low-carbon products increases. Over 450 large-scale industrial projects in six of the world's highest emitting industries, responsible for approximately 30% of global emissions, are ready to initiate production of green commodities ahead of 2030 but are held up by insufficient demand for low-carbon products. This has become a critical investment barrier. To move these projects from the drawing board to construction and production, project developers need firm commitments from buyers to secure the necessary finance. The ITA's sectors of focus are aluminium, cement, chemicals, steel, aviation, and shipping. Through analysis and dialogue with industry and finance, the ITA has identified three critical requirements to help governments and corporates scale up demand: 1) Effective policies 2) Clear product standards 3) Mechanisms to facilitate product offtake / green product purchase Launched at COP28, the ITA is a global initiative in partnership with Bloomberg Philanthropies, the COP28 UAE Presidency, and UN Climate Change. It works directly with industries, investors, and governments to accelerate investment by 2026. To find out more, visit the website: https://bit.ly/3NJiLWJ #IndustrialTransitionAccelerator #NetZero #HeavyIndustry #Decarbonisation #Decarbonization #GreenProducts #GreenCommodities