Current Context : Recently, the United Nations Industrial Development Organization (UNIDO) and the Climate Club launched the Global Matchmaking Platform (GMP)
About Global Matchmaking Platform:
- Purpose: Supports decarbonization of high-emission industries in emerging and developing economies.
- Launch: Introduced at COP28 (2023) by UNIDO and the Climate Club; further discussed at COP29 (2024).
Mechanism:
- Matches country-specific decarbonization needs with technical and financial resources.
- Focuses on sectors like steel, cement, and chemicals, targeting low and zero-emission practices.
Structure:
- Hosted by UNIDO with support from OECD and IEA as Climate Club interim secretariat.
- Funded by initiatives like Germany’s Federal Ministry for Economic Affairs and Climate Action.
Goals:
- Address $125 billion annual funding gap for net-zero by 2050.
- Promote inclusion of industrial decarbonization in updated Nationally Determined Contributions (NDCs).
Current Projects:
- Pilot initiatives in countries like Argentina, Indonesia, Kenya, and Egypt.