Industrial cluster in Louisiana joins World Economic Forum initiative
Three leading industrial clusters from the United States, China, and France have joined an initiative by the World Economic Forum to help industrial clusters achieve net zero emissions.
The initiative is called Transitioning Industrial Clusters Towards Net Zero, which supports industrial clusters on their paths to net zero. So far, 20 industrial clusters in 10 countries and four continents have committed to reaching net zero. Along with the World Economic Forum, the Electric Power Research Institute and Accenture are collaborating on the initiative.
“An affordable, reliable, and equitable clean energy future relies on global innovation spanning diverse technologies and industries,” said Neva Espinoza, EPRI vice president of Energy Supply and Low-Carbon Resources. “Our three newest members will introduce valuable new insights from different sectors of the economy as we collectively work toward reaching net zero.”
The U.S.-based cluster that is joining the effort is the Louisiana Future Energy Cluster (LFEC). LFEC was created by the H2theFuture Coalition, which is led by Greater New Orleans, Inc. and supported by business development efforts of the Baton Rouge Area Chamber.
Louisiana is a top US oil and natural gas producer, with its large concentration of industrial petrochemical facilities. LFEC seeks to support Louisiana in its effort to become a leader in the clean-energy evolution, building a strong foundation for biofuels, green and blue hydrogen and ammonia, offshore wind power development, advanced recycling, and advanced carbon capture and sequestration. LFEC had 143 million tons of CO2 emissions from operations in 2021, $54.3 billion of GDP generated in 2022, and 34,546 new jobs through decarbonization.
“The energy sector in Louisiana is leading the way toward a net-zero future, and we look forward to learning how to make more progress on decarbonization from our peers in this initiative,” Russell Richardson, Baton Rouge Area Chamber senior vice president of Business Development, said. “We aim to not only reduce carbon emissions but also create green jobs that are accessible to all residents. Together, we can create a cleaner, greener, and more economically prosperous world for future generations.”
Another new entrant is the Tianjin Economic and Technological Development Area (TEDA), in China, which includes major industries such as high-end manufacturing, information technology, new energy sources, chemical materials and healthcare.
The third to join is DKarbonation: Dunkerque Industrial Cluster in France. The DKarbonation: Dunkerque Industrial Cluster is a major industrial basin that covers port, steel, aluminum, material and manufacturing, cement, gas, low-carbon hydrogen production, and electric mobility and operates a leading European energy facility.
The initiative has grown rapidly since its inception in 2021. All 20 signatory clusters have pledged to improve their governance models and reduce their carbon footprints. Overall, this group represents a combined potential for carbon dioxide-equivalent (CO2e) emissions reduction of 626 million tons. This is equivalent to the annual emissions of a country like Australia.
Also, the World Economic Forum released a report that shows how the decarbonization of the industrial sector, which accounts for 30 percent of global CO2 emissions, could be achieved while spurring economic growth and job creation.
