(THE GIST OF PIB) India and UK launch new work stream to promote industrial energy efficiency 

[June-2021]

India and UK launch new work stream to promote industrial energy efficiency 

• Industrial Deep Decarbonization Initiative (IDDI) is a global coalition of public and private organisations who are working to stimulate demand for low carbon industrial materials.
• It is coordinated by UNIDO, the IDDI is co-led by the UK and India.
• Germany and Canada have also joined the initiative.

It works to:

• Standardise carbon assessments.
• Establish ambitious public and private sector procurement targets.
• Incentivise investment into low-carbon product development and design industry guidelines.
• It brings together a strong coalition of related initiatives and organizations to tackle carbon intensive construction materials such as steel and cement-like

1. The Mission Possible Platform

2. The Leadership Group for the Industry Transition

3. The International Renewable Energy Agency (IRENA)

4. World Bank

Need:

• Meeting Paris pledge relies on effective deployment of low carbon technologies in Energy Intensive Sectors like Iron and Steel, Cement and Petrochemicals.
• However, unlike efforts to decarbonize the energy sector, renewable technology for steel and cement production is still not available at scale. Economic incentives for industry to invest in much needed research and development are limited.

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Courtesy: PIB