At COP29, leaders focused on reducing emissions in challenging sectors like steel, cement, and chemicals. These sectors account for a significant portion of global emissions. The event, co-organized by UN Climate Change’s Technology Executive Committee (TEC) and UNIDO, highlighted key innovations to reduce emissions.
High-Emitting Industries and Their Role in Climate Action
Steel, cement, and petrochemicals contribute 70% of industry-related emissions. These sectors are responsible for 34% of global emissions. Despite their potential, only a small fraction of national climate plans (NDCs) target industrial sector emissions.
At COP29, Robert Habeck, Germany’s Vice-Chancellor and Minister for Economic Affairs, stressed the need for collective action to decarbonize industries.
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He said, “The decarbonization of global industry is within reach, but only if we act decisively and collectively. Germany stands ready to lead, innovate, and collaborate with partners worldwide to bring transformative technologies to scale.”
He added, “By working together – across borders and across sectors – we can ensure that industry not only meets the demands of the future, but leads the way in building a resilient, sustainable, and climate-conscious global economy.”
The Need for Financial and Technical Support
A key topic at COP29 was the need for financial and technical support for developing countries. Syeda Rizwana Hasan, Advisor for Bangladesh’s Ministry of Environment, emphasized the importance of international cooperation. Vulnerable countries need support to develop green industries without sacrificing economic growth.
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Hasan also stressed the need for easier access to concessional finance and technological transfers. This support would help countries accelerate decarbonization efforts. It is essential for a just and inclusive transition to a sustainable global economy.
Accelerating Decarbonization with Technology
During the event, several technological solutions for decarbonizing industrial production were showcased. These innovations provide real-world applications for reducing emissions in hard-to-abate sectors. The TEC also launched a policy brief offering guidance on integrating these industries into national climate plans. This is crucial for meeting the Paris Agreement’s 1.5°C goal.