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United Nations Industrial Development Organization (UNIDO) & Climate Club launched ‘Global Matchmaking Platform’ (GMP) for industrial decarbonization at COP29.
- UNIDO is a specialized agency of UNs with a mandate to promote, dynamize & accelerate industrial development.
- Climate Club is an intergovernmental forum for exchange on accelerating climate action & industry decarbonisation.
About GMP
- Aim: To boost international climate cooperation & partnerships to enable developing & emerging economies to leap-frog into climate-friendly industrial development.
- Secretariat: GMP is a support mechanism of Climate Club, with secretariat hosted by UNIDO.
- How it works?
- It connects country-specific needs with global technical & financial assistance to reduce emissions in energy & emissions-intensive industrial sectors.
- It’s accessible to all emerging & developing economies.
What is Industrial Decarbonisation?
- Definition: It’s the process of focusing on energy-efficient & sustainable projects that reduce industries' overall carbon footprint.
- Key Strategies: low-carbon technologies, Decarbonizing End-Use Energy through renewable sources, Carbon Capture, Utilisation, & Storage etc.
- Need: Decarbonizing industrial sector is critical for achieving net-zero emissions by 2050.
- Industrial activities alone are responsible for a quarter of global energy systems CO2 emissions.
Initiatives UndertakenGlobal
India
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