At COP29’s Energy Day, UNIDO and the Climate Club unveiled the Global Matchmaking Platform (GMP) to accelerate decarbonisation in heavy-emitting industries. The initiative, supported by multiple global organizations and donor nations, aims to address funding and technical challenges faced by emerging economies in industrial transformation toward net-zero emissions.

BulletsIn

• GMP launched to aid decarbonisation in heavy-emitting industries.
• Developed by UNIDO with support from Climate Club, OECD, and IEA.
• Highlights $125 billion annual funding gap for achieving net-zero goals.
• Pilots underway in Argentina, Colombia, Chile, Egypt, and others.
• Heavy industry accounts for 70% of global industrial CO2 emissions.
• Focus on aiding Emerging and Developing Economies (EMDEs) with tech and funds.
• Climate Club supports three pillars: mitigation, industry transformation, partnerships.
• CIF emphasizes need for scalable solutions in fast-growing economies.
• Members include Germany, Chile, EU, Kenya, and 34 others.
• New work programme to integrate decarbonisation into NDCs for COP30.