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Getting industry to net-zero: TAQA Joins IRENA Alliance for Industry Decarbonization

In line with its strong decarbonization ambitions and commitment to becoming a low-carbon power and water champion, TAQA has today joined the International Renewable Energy Agency’s (IRENA) Alliance for Decarbonization.

The Alliance is a new global initiative managed by IRENA and Siemens Energy, that aims to foster knowledge sharing and collaboration between the energy and industrial communities to identify solutions that accelerate the road to net zero for hard to abate sectors.

The alliance will serve as a platform for advancing country-specific net-zero goals, promoting decarbonization of industrial value chains and enhancing the development and deployment of renewables-based solutions.

According to IEA, in 2021, the industrial sector accounted for 25% of global energy-related CO2 emissions. This platform will therefore drive collective action and dialogue between industrial stakeholders, both public and private, who share a common vision towards the decarbonization of their activities.

“We know we need innovative approaches to achieve net zero by the middle of this century. No single company, or sector can get there alone,” said Jasim Husain Thabet, TAQA Group’s Chief Executive Officer and Managing Director at the Launch of the Alliance for Industry Decarbonization during the G20 Energy Transitions Investment Forum hosted by the government of Indonesia and organized by IRENA. “Only by harnessing the power of partnerships can we unlock our collective innovation potential,” he continued.

While scalable, cost-effective solutions exist to significantly reduce the carbon intensity of power generation, the surge in national and corporate net zero commitments has brought the need for industrial decarbonizations solutions into sharp focus.

As a founding member of the Alliance, TAQA will showcase its expertise working closely with industrial partners to support their emission reduction ambitions. From offshore oil operations to steel manufacturing and shipping– TAQA is identifying innovative ways to work closely with industry partners to support both corporate and national net zero ambitions.

“It is vital that the industrial community can count on the energy sector for support in co-developing feasible and pragmatic pathways to net zero by 2050,” continued Jasim Thabet in his remarks. “I hope that through this new platform, we can share our experiences and learn from others so that together we can accelerate the pace of change. The world urgently needs us to act.”