Within the framework of the WEF (World Economic Forum) initiative “Transition from industrial clusters to zero net emissions” of which the Net-Zero Basque Industrial SuperCluster is part, in the WEF has published a new report that analyzes the progress of the initiative and possible ways to decarbonization of the industrial sector, which accounts for 30% of global CO2 emissions, while stimulating economic growth and job creation.
The report warns that “the world is a race against time to decarbonize” and translated how the lessons learned so far from the progress achieved can be applied to the industrial sector as a whole, a key global carbon emitter. To that end, the report outlines a path through four key pillars: partnerships, policies, technology and fiance.
The document also highlights important challenges to achieving zero net emissions within the industrial sector, including gaps in policy frameworks, the need to unlock funding to support the deployment and expansion of new infrastructures and technologies, or the lack of appropriate governance models, among others. The report emphasizes the urgent need to further strengthen public-private partnerships, and cross-border collaboration is crucial to addressing these challenges.
The publication coincides with the annual meeting of the WEF in Davos, where various sessions have been organized to address issues related to the transition of industrial clusters, such as the transformation of energy demand or the importance of not leaving anyone behind in this transition.
With the “transition from industrial clusters to zero net emissions” project, WEF, EPRI and Accenture are seeking to accelerate the transition from global industrial cluster to Zero Net Emissions, generating a positive impact on the territory in environmental, economic and social terms. In this context, the Net-Zero Basque Industrial SuperCluster initiative was presented at COP26 as one of the first 4 clusters to join the WEF Initiative, which has grown to include today more than 20 initiatives from 10 countries and 4 continents.
The Net-Zero Basque Industrial SuperCluster aims to accelerate the path to zero net emissions in Euskadi, promoting decarbonization of energy supply and energy efficiency in the high-emission industrial sectors (refining, cement, pasta and paper, steel and casting), while creating market opportunities based on the scale of new technologies and innovative services. Driven by the Department of Economic Development, Sustainability and the Environment of the Basque Government through the SPRI (Basque Agency for Business Development), the initiative has the participation of the two main energy companies of Basque Country, Iberdrola and Petronor-Repsol, and with the collaboration of industrial clusters.
+info: www.spri.eus