IRENA and 13 others launch global alliance for industry decarbonisation

Bali: To accelerate the net zero target, 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 aims of the alliance to accelerate net-zero ambitions and the decarbonization of industrial value chains in pursuit of the Paris Agreement climate goals.

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 Bali, Indonesia on Thursday.

“Climate action needs industry leaders”, said Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA).

“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” he added.

Karim Amin, Member of the Executive Board of Siemens Energy said “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” .

“I am convinced the Alliance for Industry Decarbonization will accelerate decarbonization by installing a first-class exchange forum for industry, technology, and knowledge partners,” he said.

“The Alliance for Industry Decarbonization was created to achieve country-specific net-zero goals faster, encourage action for decarbonizing industrial value chains, and enhance understanding of renewables-based solutions and their adoption by industry” said the statement.

The Alliance will also strengthen dialogue and coordinate action by industrial stakeholders from across the public and private sectors.

According to the official data, about 25 percent of global GDP is produced by the industrial sector, which also emits around 28 percent of GHG emissions.

“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” it said.