Global program will finance industry decarbonization projects

Selected proposals may receive a contribution of €3 million, equivalent to R$21 million
Global program will finance industry decarbonization projects
Brazil will be the first country to count on resources from the global program. Image: Pixabay

The ITA (Industry Transition Accelerator, in Portuguese) opened a public call to receive projects that contribute to the decarbonization of Brazilian heavy industry.

According to the MDIC (Ministry of Development, Industry, Commerce and Services), Brazil will be the first country to count on resources from the global program, which is funded by Bloomberg Philanthropies and the United Arab Emirates.

Created in COP 28, in December 2023, ITA brings together global leaders from across industry, financial institutions and governments focused on unlocking investments to promote the rapid deployment of decarbonization solutions. 

The priority is projects linked to the aluminum, cement, chemical products (including fertilizers), steel, aviation and maritime transport sectors. and ideally address the most emissions-intensive activities of these sectors (i.e. aluminum smelting, clinker production, ammonia production, steelmaking and marine fuel use).

Selected proposals may receive a contribution of € 3 million (R$ 21 million) for project development. The deadline for contributions is September.

Projects must employ technologies aligned with NET Zero, capable of achieving significant greenhouse gas reductions in the short term, with a clear path to achieving near-zero emissions by 2030. 

“With ITA’s help, we will be able to identify and projects that will lead to decarbonization in our high-emission sectors, providing access to private investment and boosting industry and ensuring Brazil’s position as a leader in the global transition to clean energy,” declared Rodrigo Rollemberg, Secretary of Green Economy, Decarbonization and Bioindustry at MDIC. 

“Given the great potential to decarbonize Brazil’s heavy industry and transportation sectors and take advantage of the new economic opportunities provided by the industrial transition, ITA is pleased to partner with the Brazilian government to accelerate its emerging portfolio of industrial projects greens”, said ITA executive director, Faustine Delasalle.

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Photo by Wagner Freire
Wagner Freire
Wagner Freire is a journalist graduated from FMU. He worked as a reporter for Jornal da Energia, Canal Energy and Agência Estado. Covering the electricity sector since 2011. Has experience in covering events such as energy auctions, conventions, lectures, fairs, congresses and seminars.

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