Global Industrial Clusters Unite for Economic Growth and Emission Cuts

Thirty-three industrial clusters from sixteen countries, including five from India, have committed to economic growth, job creation, and emission cuts through the World Economic Forum's Transitioning Industrial Clusters Initiative. The initiative promises significant carbon emission reductions and emphasizes clean-energy deployment and innovation globally.

The World Economic Forum's Transitioning Industrial Clusters Initiative marks a significant commitment from 33 industrial clusters across 16 countries to enhance economic growth, job creation, and reduce emissions.

Launched at the COP26 climate summit, this initiative, developed with Accenture and EPRI, emphasizes reducing greenhouse gas emissions while boosting the economy. The initiative boasts potential carbon dioxide-equivalent emissions reductions of 832 million tonnes, comparable to Saudi Arabia's annual emissions, contributing USD 492 billion to GDP and supporting 4.3 million jobs.

This global coalition is significant due to its strategic partnerships and focus on clean-energy infrastructure. With the inclusion of new clusters from India, Thailand, and Australia, the initiative is expanding in the Asia-Pacific region. Additionally, ports from Europe, South America, and the Middle East are enhancing collaboration, underscoring the critical role of industrial hubs enriched with digital technologies.

(With inputs from agencies.)