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Seven countries selected for $1bn industry decarbonisation programme

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The Climate Investment Fund (CIF) has announced the launch of a $1 billion Industry Decarbonization Program, selecting Brazil, Egypt, Mexico, Namibia, South Africa, Türkiye, and Uzbekistan as the first countries to participate. This initiative is the first global concessional finance programme focused on helping developing nations decarbonise their high-emission industrial sectors. It targets hard-to-abate industries such as steel, aluminium, and cement—critical for the global energy transition but difficult to decarbonise using current technologies. The programme’s…

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Singapore commits $500 million to clean energy in Asia

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The Government of Singapore has announced a $500 million investment under its FAST-P (Financing Asia’s Transition Partnership) program to support clean energy deployment and industrial decarbonisation across Asia. Launched in 2023, FAST-P aims to lower investment risks in energy transition projects by providing catalytic capital that matches private sector funds on a 1:1 basis. The goal is to mobilise a total of $5 billion using blended finance. The funding will focus on renewable energy, electric…

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UK shortlists 27 projects under second hydrogen allocation round

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The UK government has shortlisted 27 hydrogen-powered projects in its second Hydrogen Allocation Round (HAR2) to scale low-carbon hydrogen production. These projects are expected to play a key role in decarbonising industries like ammonia production, clean power, glass and brick manufacturing, and sustainable aviation fuel. Together, the selected projects could help attract over €1 billion (around £850 million) in private sector investment by 2029. The sector has already drawn €400 million, or about £340 million,…