Clean industry projects are securing finance at their fastest ever rate, with 19 plants reaching final investment decision in the past six months, according to a new report from Mission Possible Partnership.
The projects, worth an estimated $43bn (£34bn), include clean fuels, chemicals, fertilisers and metals facilities.
The findings, published alongside the organisation’s Global Project Tracker, show the global clean industry pipeline now represents $4.7 trillion (£3.7 trillion) in potential investment, including nearly $1.5 trillion (£1.2 trillion) in industrial production assets and a further $3.2 trillion (£2.5 trillion) in associated renewable energy and storage.
China accounted for 68% of new final investment decisions recorded over the period, reflecting the strength of its industrial strategy.
India’s project pipeline grew by 30% over the same period, strengthening its position within what the report describes as the new industrial sunbelt, renewables-rich economies with the potential to convert clean energy into industrial advantage.
The latest wave includes nine methanol plants, four sustainable aviation fuel plants and three clean ammonia plants.
Pioneering sustainable aviation fuel mandates in the EU and Asia are credited with helping unlock investment by giving producers clearer routes to long-term buyers.
Faustine Delasalle, Chief Executive of Mission Possible Partnership, said: “Clean industry is rising because the world has changed. Countries that build cleaner industrial systems can gain greater control over the essentials of their economies: energy, food, materials and industrial goods that underpin every dimension of people’s lives.”
The report warns that further acceleration is not guaranteed and identifies stronger markets for clean products, win-win trade partnerships and mobilisation of public and private finance, as the three priorities for sustaining momentum.
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