More industrial clusters join WEF's net-zero transition initiative

Davos: The World Economic Forum on Tuesday announced that four more industrial clusters from Europe and the US are joining its 'Transitioning Industrial Clusters towards Net-Zero' initiative.

The initiative will enable these hubs to accelerate industrial decarbonization, boost job creation and improve competitiveness.

It will help connect private and public stakeholders from these industrial hubs, as they strive to meet individual and collective decarbonization goals, foster enabling policies and support local community engagement.

The four new industrial clusters are from the Netherlands, Belgium and the US.

They will work together with the WEF to reduce their carbon emissions faster through the Transitioning Industrial Clusters towards Net-Zero initiative.

Launched at COP26 in November 2021, the initiative aims to accelerate the decarbonization of hard-to-abate industrial sectors, while maximizing job creation and economic competitiveness.

The approach focuses on building cross-industry and cross-cluster partnerships to better implement low-carbon technologies -- as in the case of the regionally developed Basque Hydrogen Corridor -- and on accessing public funding and blended-finance options for clusters' decarbonization projects.