Energy Transition

GLOBAL DECARBONIZATION ACCELERATOR (GDA): FINANCING A JUST TRANSITION OF HEAVY EMITTING SECTORS

THE PROBLEM

Science tells us that we need to reduce emissions by 43% by 2030 (from 2019 baseline) to keep 1.5 within reach.

Industry, Energy and Transport sectors account for ~65% global emissions and play a critical role in driving emissions reduction.

~16% of emissions directly from the steel, cement and aluminum sectors.

If we don’t take action, the Heavy Emitting Sector can expect a 30%+ increase in carbon emissions by 2050.

INITIATIVE DESCRIPTION

The first decarbonization initiative to accelerate delivery of Paris agreement-aligned ambition of keeping the 1.5ºC, across heavy industry¹, energy², and transport sectors³.

GDA unites leadership across policy, finance, infrastructure and technology to overcome the challenges of decarbonization through:

• Elevating the work of existing sector decarbonization
• Fostering cross-sector and cross-cutting collaboration on how to tackle common and interdependent challenges
• Bringing finance to the table to provide innovative solutions.
• Galvanizing action by the policymaking community and industry executives

Companies that endorse the Participation Principles are eligible to join the GDA ecosystem to support working groups and initiatives.

COMMITMENTS FOR CEOS & PHILANTHROPISTS

Commitment ask for all CEOs

Join GDA, and take part in the crosssectoral working groups

Commitment ask to Producers and Consumers across the 7 sectors

Endorse GDA’s Participation Principles, which focus is setting net-zero Paris aligned ambitions, 2030 targets and setting a decarbonization plan within 2 years

HOW DO I GET INVOLVED?

REACH OUT TO COP28 DIRECTOR OF ENERGY TRANSITION, SIMON BIRKEBAEKTO GET INVOLVED IN THE GDA

Source: IEA; International Aluminum Org.; Transition Pathway Initiative; First Mover’s Coalition; COP28 team Analysis