Industrial Transition Accelerator to launch reports on 65 industry projects

New Delhi, Oct 31 (PTI) The Industrial Transition Accelerator, a global multistakeholder collaboration for promoting decarbonisation solutions across heavy industry and transport, on Friday said it has evaluated more than 65 projects planned across sectors, including steel and aluminium.

Other sectors are cement, chemicals (ammonia and methanol), and aviation, the Industrial Transition Accelerator (ITA) said in a statement.

"As part of its preparatory analysis, the ITA has mapped more than 65 potential projects across sectors...to identify those with the potential to reach Final Investment Decision (FID) and evaluate the barriers holding back progress," the statement said.

ITA, which is a global multi-stakeholder initiative, said it will launch a report on these projects next week on November 4 in the national capital.

The ITA initiative was launched at COP28 to accelerate the decarbonisation of heavy-emitting industry sectors.

James Schofield, Managing Director, Industrial Transition Accelerator, said: "We aim to mobilise action by illustrating how decarbonisation can be both commercially viable and scalable. India is uniquely positioned to lead the global shift to clean materials, fuels, and technologies with its abundant low-cost energy powering production, a dynamic private sector, and strong policy momentum toward net zero." PTI ABI ABI MR