AFID Sets Bold Targets For Industrial Decarbonization At COP29, Accelerating Global Emission Reductions And Energy Transition

At COP29, the Alliance for Industry Decarbonization (AFID), co-chaired by Siemens Energy and EMSTEEL, took a significant step in addressing the decarbonization challenges faced by industrial sectors. During a high-level CEO dialogue, AFID announced four strategic commitments designed to enhance industry efforts in emission reductions, aligning with both global and national decarbonization goals.

The CEOs discussed progress under the Decarbonization Commitment and adopted ambitious joint targets for 2030. The members of AFID aim to reduce 54% of direct and indirect greenhouse gas (GHG) emissions and expand installed renewable capacity from 183 gigawatts (GW) in 2023 to 534 GW by 2030. Additionally, the members have committed to almost doubling installed green hydrogen, significantly increasing bioenergy with carbon capture, utilization, and storage (CCUS) solutions, and boosting workforce re-skilling from 20% to 99%. They also plan to significantly increase investments in energy transition projects, aiming to surpass USD 124 billion by 2030.

AFID, in partnership with the Net Zero Technology Centre, launched an Innovation Competition to identify and accelerate the deployment of decarbonization technologies for its beneficiary companies. The competition is open to energy transition innovators from around the world, with top finalists presenting their technologies in 2025. Winners will have the opportunity to pilot their solutions with AFID’s beneficiary companies.

The Alliance has also endorsed global decarbonization initiatives, including the Scaling International Assistance for Industry: COP29 Global Commitment and the ITA Open Letter on Demand Stimulating Policies.

IRENA Director-General Francesco La Camera commended the efforts of AFID, stating that the collective ambition and strategic actions demonstrated by the industry leaders at COP29 show a clear path towards reducing emissions and accelerating renewable energy capacity. He emphasized the crucial role that industry plays in achieving a 1.5°C scenario, and highlighted AFID’s role in advancing innovation, setting ambitious targets, and fostering global collaboration for sustainable industry transformation.

Eng. Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL and co-chair of AFID emphasized that the commitments reflect a collective and strong dedication to transitioning to a sustainable, low-carbon future. He underscored the importance of focusing on innovative technologies, re-skilling the workforce, and investing in the energy transition. As co-chair of the alliance and as the UAE’s largest steel and building materials manufacturer, EMSTEEL’s commitments represent a significant contribution to reducing emissions and increasing renewable energy capacity, while also demonstrating the power of industry collaboration.

Christian Bruch, CEO of Siemens Energy and co-chair of AFID, described the announcement as a practical step toward a more sustainable future. He expressed hope that the pledge would encourage more collaboration among industry leaders to accelerate the deployment of decarbonization technologies and drive the energy transition forward.

Luca Corradi, CTO of the Net Zero Technology Centre, expressed enthusiasm for the collaboration with AFID, emphasizing the shared mission to accelerate the development and deployment of net-zero technologies. He stated that the Centre is eager to support AFID members in scaling up innovative technologies and ensuring their widespread adoption.

Through these commitments and collaborations, AFID aims to lead the charge in driving industrial decarbonization and achieving a carbon-neutral future.