Heavy industry is fundamental 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 financing for the decarbonization of this industry is challenging, as the demand for capital exceeds available resources. A comprehensive approach is needed, including technical assistance for project preparation and evaluation.
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 tailored to each industrial sector is vital to mitigating their environmental impact and combating climate change.
