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On the Energy Day at COP29, United Nations Industrial Development Organization (UNIDO) and the Climate Club launched the Global Matchmaking Platform (GMP).
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Initiative Purpose |
Accelerating decarbonization in heavy-emitting industries. |
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Funding Gap |
An annual funding gap of US$125 billion was highlighted to achieve net-zero emissions. |
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Key Framework |
The Global Matchmaking Platform (GMP) for industry decarbonization is a support mechanism of the Climate Club, with the secretariat hosted by UNIDO. |
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Support Partners |
The Climate Club interim Secretariat is jointly hosted by the OECD and IEA. |
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Pilot Countries |
Discussions are underway in Argentina, Colombia, Chile, Egypt, Indonesia, Kenya, Morocco, and Cambodia. |
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Stakeholders Present |
Germany and Chile (Climate Club co-chairs), Uruguay, Türkiye, Bangladesh, Indonesia, UNIDO, World Bank, Climate Investment Funds (CIF), and GIZ. |
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Role of Non-State Parties |
Delivery partners like UNIDO, CIF, World Bank, and GIZ will strengthen cooperation between countries, international organizations, and the private sector. |
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COP29 President’s Statement |
Mukhtar Babayev emphasized the GMP’s role in decarbonising heavy-emitting industries and promoting the green energy transition as a priority for achieving global climate goals. |
The Global Matchmaking Platform (GMP) aims to accelerate the decarbonization of heavy-emitting industries in emerging and developing economies by connecting country-specific needs with global technical and financial assistance.
Initiated at COP28 in December 2023 under the Climate Club, the GMP focuses on reducing emissions in energy-intensive industrial sectors. It offers tailored support through a network of delivery partners, assisting nations with policy development, technology transfer, and investments to achieve zero and low-emission industrial practices while enhancing emissions goals.
As a support mechanism of the Climate Club, the GMP's secretariat is hosted by UNIDO, with additional backing from the interim Climate Club Secretariat, jointly managed by the OECD and IEA. The platform streamlines access to resources and guidance, enabling countries to customize their decarbonization strategies and achieve deep emissions reductions with comprehensive technical and financial support from partner organizations.
The Climate Club was launched at COP28 in Dubai last year — It is an initiative that aimed at cooperation between countries in decarbonizing the industrial sector. It is led by Germany and Chile, the Club has garnered support from 38 member countries including Kenya, the European Union, Switzerland, and others. They have each committed to efforts in developing strategies and standards for decarbonisation.
The Climate Club members’ statement to COP29 underlined the new work programme for 2025-26. The work programme progresses the work on three pillars —
Pillar 1: Advancing ambitious and transparent climate change mitigation policies
Pillar 2: Transforming industries
Pillar 3: Boosting international climate cooperation and partnerships.
Read about UNIDO: https://www.iasgyan.in/daily-current-affairs/gef-unido-bee-project
Source:
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PRACTICE QUESTION Q.Discuss the significance of decarbonization in heavy-emitting industries for achieving climate goals. Analyze the challenges and opportunities for emerging economies in this transition. (150 words)
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