Energy Finance Day

Industrial Decarbonization and Net Zero Transition Acceleration

Global economic activities as well as our day-to-day life rely on various products from industrial sectors such as iron and steel, chemicals, concrete and cement, pulp and paper, and food. Conventional manufacturing and production across these industries and processes emit high levels of green gases (GHG).

These sectors combined for a total of approximately 33% of total global CO2eq emissions in 2021. Furthermore, demand and production capacity in these industrial sectors have been rapidly growing across all emerging economies. As a result, this means that massive reductions of atmospheric GHG emissions from the industrial sectors will be required in developing and emerging economies to achieve the global net zero target following the Paris Climate Alignment. Notwithstanding the increased attention to this area, and despite establishment of regulatory initiatives and technical standards for clean industrial production such as the European Union’s Carbon Border Adjustment Mechanism (CBAM), overall progress in decarbonizing industrial emissions remains slow across Asia.

This DWD will examine options and challenges to mainstream and accelerate industrial decarbonization in developing and emerging economies in the Asia-Pacific region. Although there is persistent perception that decarbonization technologies are prohibitively expensive, upon closer look at available technologies and the value chain in individual industries, there can be certain “low-hanging fruit”.

In addition, it is important to recognize the vital importance of having innovative financing funds and instruments to demonstrate the viability of such new, low-carbon technologies.

Key technological approaches of decarbonization applicable across industrial subsectors include i) energy efficiency, ii) industrial electrification, iii) low-carbon fuels, feedstocks, and energy sources, and iv) carbon capture, utilization, and storage.

This DDW will convene private sector players who are spearheading development of, and investment into, technologies in and business models in the region, and who will share their vision, knowledge, and experience. Government officials and sector experts will describe the current roadmaps, policies, and feasibility of near net-zero accelerating solutions for industrial decarbonization.

Speakers and panelists in this DDW will discuss issues such as capital costs for low-carbon technologies; and innovative business and financing models; and regulatory and policy support needed to accelerate the net zero transition; as opportunities for development financing institutions (DFIs) to develop and contribute to effective decarbonization initiatives.