Alan Gómez’s Post

🌍 Exciting news in the world of #Sustainability and #Decarbonization! 🌊 Mission Possible Partnership has taken on the #leadership to decarbonize some of the world’s highest-emitting industries within the next decade! 🚀 Formed in 2020, this coalition focuses on accelerating the decarbonization of 7 global industries, representing 30% of global emissions. These industries include Aluminium, Aviation, Cement and Concrete, Chemicals, Shipping, Steel, and Trucking. 🏭 The Partnership boasts an impressive lineup of core partners, including World Economic Forum, Energy Transitions Commission, RMI, and We Mean Business Coalition. With guidance from the International Energy Agency (IEA), they're paving the way for a sustainable #future. 💼 Supported by funders like the Bezos Earth Fund and Breakthrough Energy 🌱 MPP is tapping into the expertise of influential organizations in industrial decarbonization, #finance, and policy development like: Center for Climate-Aligned Finance, Ceres, Inc., the Climate Champions of the UN Climate Change, Global Maritime Forum, Systemiq Ltd., United Nations Environment Programme Finance Initiative (UNEP FI), and WBCSD – World Business Council for Sustainable Development. 🌐 The Partnership builds on the success of the Mission Possible Platform, which launched at the United Nations' Secretary General’s Action Summit in 2019 and has grown from 30 companies in 2019 to over 400 today. 📈 MPP's Global Project Tracker, launched today, reveals that while the heavy industry transition has begun, it needs to accelerate 7x to meet 2030 climate targets. Access tracker here: https://lnkd.in/d5ycawjG Here are some key insights from the tracker: 1. Government policies are crucial in creating demand and bridging the green premium. For example, SAF blending mandates in #Europe and IRA subsidies and DoE grants in the US are making waves. 2. Support for clean #technology deployment is vital for de-risking investment. Exciting initiatives like the Canadian public-private partnership for developing new inert anode technology for aluminum are already making strides. 3. Co-location of projects and enabling infrastructure bring synergies. Initiatives like the Transatlantic Clean Hydrogen Trade Coalition are setting the stage for green import/export infrastructure, while green hydrogen hubs, like the one at the Port of Pecém in Ceará, Brazil, are emerging globally. 🌟 Learn more about MPP's approach, #strategy, and targets here: https://lnkd.in/dXfSTpa2 #data #markets #economics

❌ Let's be clear—no single country can achieve #netzero emissions on its own. A just #energytransition demands a collaboration. Given that emerging economies are projected to contribute 75% to global emissions, the pivot towards #renewableenergy in Southeast Asia isn't just regional—it's a critical piece of the global puzzle. 💡 The solution? Blended finance -- to catalyse change throughout. Read more from The Global Energy Alliance for People and Planet (GEAPP) Vice President for Asia (ex-India), Kitty Bu, and Chief Investment Officer, Stefanie Fairholme on Project Syndicate: https://lnkd.in/dyRtXm-5 #LetsChangeEnergy #CleanEnergy #EnergyAccess #ASEAN #ClimateAction

🌱Discover the future of sustainable investing with these groundbreaking #ESG initiatives. 👁🗨Click here to read more: https://lnkd.in/g4s-nZkj #ESG #SustainableInvesting #GameChanger #GreenFinance #indochine #counsel #investment #sustainable

Sembcorp Industries Ltd has announced a substantial S$10.5 billion commitment to renewable energy investments, signifying a meaningful shift from traditional, carbon-intensive operations to greener alternatives. This 'brown to green' transition is mirrored in the agri-food sector in Asia, which is now identified as a 'significant investment opportunity' for decarbonization. However, with only a mere 4% of leading companies in line with the UN's climate target guidelines, there remains a substantial gap between corporate commitments and the actions necessary to achieve global climate goals. This disconnect is further mirrored in waning investor interest in sustainability linked bonds, underscoring the need for enhanced governmental and corporate accountability in the realm of sustainability. Subscribe to our newsletter for the full consolidation of this week’s global ESG headlines: https://bit.ly/40Wyl5P Top ESG stories from this week include:    Singapore 🇸🇬     🌱Sembcorp to make S$10.5 billion renewables investment in brown to green transition (November 6)  https://bit.ly/3u9HugA 🌱 STACS launches upgrades to ESGpedia platform (November 3)  https://bit.ly/3QsobGA Asia 🌏  🌱‘Significant investment opportunity’ in decarbonising Asia’s agri-food sector: report (November 1)  https://bit.ly/3QQS593 🌱China loosens carbon rules after prices hit record to ensure power winter demand is met (November 1)  https://bit.ly/40vuDRZ     Global 🌎 🌱Only 4% of top companies meet UN climate target guidelines, study finds (November 6)  https://bit.ly/3FR0d2M 🌱Fleeting investor interest spells trouble for sustainability-linked bonds (November 7)  https://bit.ly/3QPGYx9 🌱Oil and gas companies face an era of credit downgrades, Fitch warns (November 1)  https://bit.ly/40uTchH     #ESG #Sustainablefinance #STACSESGFinanceWeekly Ray Ferguson | Benjamin Soh | David Teo | Jin Ser | Thanda Aye (Tracy) | Sheena Ang | Kimberly Lee | Cleo Tan | Benjamin Tan | Grace Lim

Three industry leaders from China, France, and the United States have joined a network of 20 industrial clusters committed to reaching net zero through a World Economic Forum initiative. The Transitioning Industrial Clusters initiative, established in 2021 at #COP26, aims to support industrial clusters as they work towards net-zero emissions. The industrial sector accounts for about 30% of global #emissions, and the group involved with the initiative alone represents the potential to reduce 626 million tons of carbon emissions. According to the World Economic Forum, the signatory clusters also contribute $362 billion to the gross domestic product and create or protect 3.4 million jobs. New Signatories Represent a Variety of Industrial Sectors The three new signatories of the initiative include the Tianjin Economic-Technological Development Area Co., Ltd (TEDA), DKarbonation : Dunkerque Industrial Cluster, and Louisiana Future Energy Cluster (LFEC). "The energy sector in Louisiana is leading the way toward a net-zero future and we look forward to learning how to make more progress on decarbonization from our peers in this initiative," said Russell Richardson Rouge Area Chamber Senior Vice-President of Business Development. “We aim to not only reduce carbon emissions but also create green jobs that are accessible to all residents. Together, we can create a cleaner, greener and more economically prosperous world for future generations." Discover More: https://lnkd.in/eMQRZ5z8

Singapore state investor Temasek has just recorded its first reduction in portfolio emissions against climate targets it set four years ago. The 5 per cent decline in its emissions was primarily driven by investee firm Sembcorp Industries Ltd's divestment of its Indian coal subsidiary Sembcorp Energy India Limited – a move that think tank Anthropocene Fixed Income Institute (AFII) called the “carbon footprint arbitrage of a lifetime” when it was first announced in 2022. Addressing AFII's critique, Franziska Zimmermann, Temasek's director for sustainability and climate change strategy said, “While we fully acknowledge all the criticism around whether there has been just a shift in boundaries and so forth, the other way to look at it is that Sembcorp really developed their brown-to-green strategy two years ago. That was a decisive strategic decision for the company to focus their future business activity on the renewable energy space. So the assets that it has divested from were just simply no longer part of its strategy." Meanwhile, in response to an Eco-Business query, Temasek's chief investment officer Rohit Sipahimalani clarified that its decision to divest the Singaporean LNG and natural gas firm Pavilion Energy to Shell, which was announced last month, "was based purely on commercial considerations". "Carbon emissions reductions were not a driving factor in the divestment," he said. Temasek's head of ESG investment management and managing director of sustainability Kyung-Ah Park confirmed that while it has not put in place a fossil fuel exclusion policy, due to safeguards and due diligence, "the reality is we don’t do a lot of investment in oil, gas and coal.” The sovereign wealth fund has also not ruled out financing early coal phase-out projects, though it will report the financing and associated emissions from such investments separately from its green and transition-themed investments, or so-called “sustainability living trend” bucket, which currently makes up 12 per cent of its S$389 billion (US$288 billion) net portfolio value. Temasek has also raised its internal carbon price to US$65 per tonne of CO2e – 30 per cent up from the previous figure of US$50 per tonne in 2023 and more than triple Singapore’s current carbon tax of S$25 (US$18.5) per tonne for large polluters. This is expected to increase to US$100 per tonne by 2030. Read the full story below.

"#energytransition is not just a buzzword but leads to real #impacts on the ground." This was one of my biggest takeaways from today's panel "Market transformations we need post-COP28: Is the shift away from fossil fuels really possible?" at the #AccelerateToNetZero South East Asia event organised by The Carbon Trust. I had the pleasure of moderating this discussion and learning from our brilliant speakers: Ayato Kurokawa (Asian Development Bank (ADB)), Tulika Raj (SunGreenH2), Dennis Tan (Surbana Jurong Group), John Colombo (Clime Capital) and David Broadstock (Sustainable and Green Finance Institute (SGFIN)). Other key insights include: 💡At the centre of change is the need to address the emissions from coal power generation in South East Asia. The Energy Transition Mechanism provides a model to incentivise the early retirement and/ or repurposing of coal-fired power plants. By retiring the coal plants early, we make space for renewables to grow. 🔍 Clean hydrogen plays an important role in accelerating the transition in Asia and can help decarbonise activities in the hard-to-abate sectors. Incentives in Asia are available to promote hydrogen in existing use case sectors, and this must be shifted to green. 🏢 Important for companies to also focus on addressing its Scope 3 indirect emissions which typically account for so much of its carbon footprint but may not be frequently reported. More needs to be done to help companies take the small steps. 💲Investing in energy efficiency, offshore wind, and low carbon technologies is critical. While governments are helping to de-risk investments into low carbon options, there remains other stakeholders driving inaction. It is important to create trust in low carbon solutions and generate shared investments in these areas. Thank you to our speakers for your valuable insights and to all the participants who joined us today. Keen to find out more about #netzero? Drop us a message and we will see how we can help😊 #sustainablefinance #climateaction #decarbonisation

The World Economic Forum's Transitioning Industrial Clusters initiative, which aims to support industrial clusters on their paths to net-zero emissions, has expanded with three new clusters from #China, #France, and the #UnitedStates, bringing the total to 20 clusters across 10 countries. The combined potential of these clusters is a #CO2e emissions reduction of 626 million tonnes, equivalent to the annual emissions of a country like Australia. The clusters contribute $362 billion to GDP and support 3.5 #million jobs in diverse sectors such as manufacturing, #energy, and #technology. The initiative's latest report identifies key challenges in achieving #netzero goals, including financing, policy gaps, and the need for public-private partnerships, while highlighting the role of new technologies and #infrastructure development. #NetZero #IndustrialClusters #ESG #ClimateAction #Sustainability #Decarbonization #GlobalCommitment #WorldEconomicForum #GreenTech #Innovation Accenture | EPRI (Electric Power Research Institute) | Tianjin Economic-Technological Development Area Co., Ltd | Dunkerque LNG | LOUISIANA FUTURE FARMERS OF AMERICA FOUNDATION Energy Cluster Denmark (LFEC) | Greater New Orleans, Inc. – GNO, Inc. | Baton Rouge Area Chamber | Euraénergie https://lnkd.in/d27PB-4z

The Net Zero Accelerator (#NZA) initiative by Innovation, Science, and Economic Development #Canada invites forward-looking Canadian companies to contribute to achieving Canada's ambitious GHG reduction targets. With up to $8 billion in funding, the NZA supports large-scale investments in key sectors, focusing on decarbonization, industrial transformation, and clean technology development. The program aims to capitalize on net-zero opportunities, fostering emerging sectors such as clean tech, hydrogen, carbon capture, and a made-in-Canada battery ecosystem. The NZA operates under core investment principles, emphasizing a balanced portfolio, maximizing leverage, and collaboration with provinces and territories. Companies interested in applying can contact the Strategic Innovation Fund, with a focus on planned #GHG reductions and technological innovations. Due diligence reviews will validate #GHG_reduction estimates before funding decisions are made. Environment and Climate Change Canada #NetZeroChallengeCA #NetZeroChallenge #ClimateActionCA #SustainableInvestment #CleanTechCanada #GHGReductionCA #InnovationForClimate #StrategicInnovation #Decarbonization #GreenEconomy #CleanEnergyFuture https://lnkd.in/dsEukV3r

INDONESIA’s RISE AS THE SOUTHEAST ASIAN CCS CHAMPION Indonesia, a nation synonymous with lush rainforests and volcanic peaks, harbors a hidden ambition: becoming the region's carbon capture and storage (CCS) powerhouse. With a staggering 400-600 gigaton CO2 storage capacity in its depleted reservoirs and saline aquifers, this archipelago dreams of reversing its carbon footprint and leading the way to a cleaner future. This CCS hub is more than just a storage locker; it's a portal to a new era. A future where captured carbon becomes a passport to invest in industries that glimmer with low-carbon brilliance – blue ammonia, blue hydrogen, petrochemicals reborn. A revolution for the Indonesian economy, birthing new opportunities and a global market for products that sing the song of sustainability. • The Scale of Opportunity: Imagine, 322-482 years of national CO2 emissions storage! That's the potential Indonesia holds, with an estimated peak of 1.2 gigatons of CO2 by 2030. This isn't just a pipe dream; the government's ambition is backed by concrete plans • From Polluter to Pioneer: Indonesia, once a major carbon emitter, is redefining its narrative. By developing CCS technology and establishing a CCS hub, it aims to capture not just its own CO2, but also emissions from across the region, paving the way for international cooperation and shared responsibility. • Beyond Greenwashing, Green Profits: This isn't just about climate action, it's about economic rebirth. CCS opens doors to new low-carbon industries, like blue ammonia, blue hydrogen, and advanced petrochemicals. Think new jobs, new markets, and a global edge in the burgeoning clean energy sector. • A Regional Race: Indonesia isn't alone in its CCS aspirations. Malaysia, Timor-Leste, and Australia are all vying for the title. But with its sheer scale and potential, Indonesia has the upper hand • Investment Hurdles: Turning ambition into reality requires billions. The MoU with ExxonMobil for US$15 bil in CO2-free industries is a crucial step, but attracting further investment will be key. The data whispers a truth – this international cooperation is the lifeblood of CCS projects, a lifeline that empowers them to soar • Technology and Expertise: Building a CCS hub demands cutting-edge technology and skilled professionals. Indonesia needs to bridge this gap through strategic partnerships and knowledge transfer Will Indonesia's ambition rise victorious? Will its caverns become the region's carbon vault, its industries sing the hymn of low-carbon triumph? Only time will tell, but one thing is certain: Indonesia's CCS dream is a story worth watching, a testament to a nation's audacious leap towards a cleaner, brighter future -aznial rahmat 24 December 2023 Banda Kota Kuala Lumpur