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AGSI partners with the Industrial Transition Accelerator (ITA) to lead the decarbonization effort in The UAE and across The MENA Region
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In September 2024, AGSI have attended the Climate Week in New York City 2024, one of the most significant global events dedicated to addressing climate change. This forum provided us with the unique opportunity to engage with a diverse group of stakeholders, including industry leaders, policymakers, environmental advocates, and innovators committed to advancing sustainability.
AGSI was selected by the Industrial Transition Accelerator (ITA) to join forces in accelerating decarbonization efforts in The UAE and The MENA Region. In this strategic partnership, we will play a pivotal role green industrialization and leading decarbonization of future steel production.
As the first in The World Carbon Neutral Stel Plant, AGSI has signed a partnership with the ITA to scale its Net Zero Steel across The MENA region. With the structured support afforded by the ITA, under the Mission Possible Partnership (MPP), we will play a pivotal role in green industrialization and leading decarbonization of future steel production. This partnership will have a transformative impact on the sector, driving demand for green products and innovation across the region, and beyond.
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The Industrial Transition Accelerator (ITA) is a global initiative launched at COP28, in partnership between COP28 Presidency, UN Climate Change and Bloomberg Philanthropies, and Mission Possible Partnership (MPP) to accelerate decarbonization in the heavy-emitting industries globally. ITA is co-chaired by H.E Dr. Sultan Al-Jaber (Minister of Industry and Advanced Technology and COP28 President), Simon Stiell (Executive Secretary of the UNFCCC, Mike Bloomberg and Mark Carney as UN Special Envoys. ITA is working with The UAE’s MoIAT to launch a Project Support Programme across 5 countries in the Middle East & North Africa- Bahrain, Egypt, Jordan, Morocco, and the UAE. AGSI joined the ITA during the COP28 and since had quarterly meetings with the ITA’s team.
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During the Climate Week NYC, the ITA’s Co-Chairs, Dr. Sultan Al Jaber, Simon Stiell, and Mark Carney convened the ITA’s first in-person Leadership Council Meeting since COP28, on the sidelines of the United Nations General Assembly 79. The meeting was attended by the ITA’s Leadership Council Members and the signatories, including AGSI. It focused on the urgent need to decarbonize today’s energy system.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/2″ css=”.vc_custom_1728036775016{margin-top: 40px !important;margin-bottom: 40px !important;}”][vc_column_text]During the session, Asam Hussain, AGSI CEO, outlined critical requirements needed to help accelerate demand for net zero steel and practical steps to support sustainable steel production.[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_single_image image=”468″ img_size=”full” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]H.E. Dr. Al Jaber underscored that both private & public finance, progressive government policies and incentives are critical to deploy solutions at the scale and pace required. Dr. Al Jaber highlighted how the multi-stakeholder partnership, launched at COP28, is working to ensure decarbonizations projects are investment-ready by 2026 and operational by 2030, while focusing on providing tailored support to unlock investment in select geographies.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”467″ img_size=”full” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Asam Hussain pointed out that AGSI is pioneering the transformation and leading the change toward a greener, more sustainable future in the steel sector, demonstrating that it’s possible to achieve economic growth while drastically reducing the carbon footprint. Equally, the industry needs engagement and support from national and regional policy makers to enable the delivery of low/zero carbon products.
Some of the key points focused around both supply and demand sides, including: policy formulation, standards and codes, access to renewable energy, tools to scale demand for low/zero carbon products, mandatory targets for low/zero carbon materials in public procurement, carbon pricing, market mechanisms to help match supply and demand, amongst others.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”471″ img_size=”full” alignment=”center”][/vc_column][vc_column width=”1/2″ css=”.vc_custom_1728036648241{margin-top: 40px !important;margin-bottom: 40px !important;}”][vc_column_text]In the picture from the right: H.E. Dr Sultan Al Jaber, COP28 President and the Minister of the UAE Industry and Advanced Technology, Asam Hussain, the AGSI CEO, Faustine Delasalle, the CEO of ITA, Ms. Mahra Al Suwaidi, and Ms. Anna Griffin, AGSI Chief People & Sustainability.[/vc_column_text][/vc_column][/vc_row]