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Why in the News?
Recently, the International Renewable Energy Agency (IRENA) and 13 other companies have launched the Global Alliance for Industry Decarbonization.
Key Points:
- It was formed under the Bali Declaration adopted during IRENA’s Investment Forum on Energy Transitions held in Bali, Indonesia.
About Global Alliance for Industry Decarbonization:
- Aim: To accelerate net-zero ambitions and decarbonisation of industrial value chains in pursuit of the 2015 Paris Agreement climate goals.
Significance:
- It will accelerate decarbonization by installing a first-class exchange forum for industry, technology, and knowledge partners.
- Benefit business opportunities for green industrialization
- Share best practices to cut industry emissions.
- Encourage action for decarbonizing industrial value chains.
- Enhance understanding of renewables-based solutions and their adoption by industry.
