Some $250 billion of financing has been allocated to produce low-carbon materials in heavy emitting sectors such as chemicals, fuels and metals, but future low-carbon materials projects will need more than five times the level of current funding, a report said on Thursday.
Newly industrialized countries such as Indonesia and Morocco have already secured a fifth of the $250 billion investment in clean industrial plants so far, the report by the Mission Possible Partnership said.
Some 69 projects are in operation using clean energy to produce materials, while 65 others have secured financing, the report said.
The report also tracked $1.6 trillion of projects announced but not yet financed, with newly industrial “sunbelt” countries accounting for 59% of the investment pipeline, versus 18% for the United States, 10% for the European Union, and 6% for…
