Heavy industry is central to the global economy, transforming raw materials into products such as steel, aluminum, cement, pulp, and paper. However, it is also a significant source of CO2 emissions, accounting for approximately 29% of global emissions. Mobilizing finance for the decarbonization of this industry is challenging, as the demand for capital exceeds the available resources. A comprehensive approach including technical assistance is needed to prepare and evaluate projects.
In Latin America and the Caribbean, these industries are crucial to the economy, but they also contribute significantly to regional emissions, accounting for approximately 19.99% of CO2 emissions. Addressing emissions from these sectors is essential to achieving a sustainable, low-carbon future. The implementation of cleaner technologies and decarbonization strategies adapted to each industrial sector is vital to mitigate their environmental impact and combat climate change.
