Alliance for Industry Decarbonization at COP27

Alliance for Industry Decarbonization CEO roundtable meeting at COP27

Sharm el-Sheikh, Egypt, 11 November 2022 – Top executives from the 28 member companies and knowledge partners of the Alliance for Industry Decarbonization held the group’s maiden meeting at COP27 today and outlined a joint vision and implementation plan.

The group, formed of leading companies across all industry sectors, held their first Alliance meeting during COP27’s Decarbonisation Day in Sharm El Sheikh, Egypt, with the meeting focused on six pillars and enablers: renewables, green hydrogen, bioenergy with Carbon Capture, Utilisation and Storage (CCUS), heat process optimisation, human capital, and finance.

With more than 30% of global greenhouse gas emissions and nearly 40% of global energy consumption, the industrial sector is the second largest emitter after power generation. Without increased emission reduction efforts within the industrial sector, the goal of limiting global temperature rise to 1.5° Celsius stays unreachable.

Francesco La Camera, Director-General of IRENA, said: “We have less than a decade left to secure a fighting chance for a 1.5°C world. Climate action needs industry leaders. This Alliance stands for the growing commitment of global industry to act on decarbonisation. We are delighted today to welcome eight new members to our Alliance, united in their determination to speed up energy transition. By standing together we send a clear signal of solidarity at COP27, and we invite new partners to join our common vision.”

As co-chair of the Alliance, Christian Bruch, President and Chief Executive Officer of Siemens Energy, said: “There are no reasons or excuses to wait for action. All technologies needed are available and the recent IPCC report has made it clear that without major changes global warming will increase more than 3.2 °C. There is no alternative to the energy transition – we need to act together for just, ambitious implementation now.”

Co-chair of the Alliance, T. V. Narendran, CEO & MD, Tata Steel, said: “Climate change is one of the most pressing issues that humankind is facing today. The heavy industries are responsible for a considerable share of the total carbon dioxide emissions in the world today. We need to recognise our obligation to work towards mitigation of climate change-related risks and strive to reduce our carbon footprint. The key is to collaborate among a wide range of organisations including experts, academia, technology providers, and research institutions, and to find solutions together and faster. I believe ‘Alliance for Industry Decarbonization’ can play a significant role in building a sustainable planet for all.”

On September 1, 2022 IRENA, co-founding partner Siemens Energy and companies across all industry sectors launched the Alliance for Industry Decarbonization at the G20 Investment Forum on Energy Transition in Bali, Indonesia. Enel Green Power, TAQA Arabia, Eni, Technip Energies, EDF Renewables, JSW, Tata Steel, Sable Chemicals, Tatanga Energy, Repsol, Equinor and TAQA were the other founding members. They adopted the ‘Bali Declaration‘ to accelerate net-zero ambitions and the decarbonisation of industrial value chains in pursuit of the Paris Agreement climate goals.

IRENA acts as the Secretariat of the Alliance. Siemens Energy and Tata Steel co-chair the Alliance leadership, and knowledge partner Roland Berger supports the Alliance by sharing best practices. The growing number of members highlights the need for an international, multi-stakeholder platform that enables exchange and collaboration to tackle the decarbonisation of the industrial sector.

Since its launch, the Alliance has officially welcomed State of Green as a new knowledge partner and 13 new members: OQ, the KIS Group, VALE, ATC Development, Subsea7, Elsewedy Electric, FLSmidth, Petronas, Ecopetrol, Unilever, Envision, Alfanar and Zahid Group. The Alliance is urging new members to sign up and join their common vision to speed-up the energy transition. Membership is open to public and private firms and stakeholders operating in energy-intensive sectors ready to decarbonise their activities now.

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