WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 137
Actions:
Support for new business models. Governments can reduce
the risk of embracing new technologies by lowering the barriers
for industry players to test and adopt. For example, by providing
funding for trial schemes where a third party owns and operates
the asset and sells back heat-as-a-service, less risk is carried by
the plant where the asset is installed.
Research into proving technology to system integration
is needed. Assess the impact of decarbonization on existing
systems, including impact on overall costs, product performance,
reliability, sustainability, and compliance. This means modelling
scenarios and running simulations that assess these impacts
and feed into the organization’s climate tech adoption strategy,
de-risking investments.
Explore ecosystem integration. Work as part of an ecosystem
of organizations across the value chain and wider industry to
address the complexities of decarbonization. All ecosystem
members will need to work closely with a broad group of
stakeholders including industry peers, academics, startups,
regulators, and non-governmental organizations (NGOs).
6 Enel, “Zero Emissions Ambition,” retrieved from https:// www.enel.com/content/dam/enel-com/
documenti/ investitori/sostenibilita/zero-emissions-ambition-report. pdf.
Move from analog to digital. Develop digitally enabled
industrial systems, such as power plants, energy infrastructure,
and steel plants, which can be optimized and modernized as
climate tech evolves. For instance, in transitioning steel plants
to green steel production using low-carbon hydrogen, digital
enablement becomes crucial, given the long operational lifespan
of a steel plant.
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Enablers:
Securing access to finance. Organizations should tap into
increasing public and private funding, including government
grants, subsidies and tax credits, VC funding, and debt
financing, to fast track the development and deployment of
decarbonization solutions. Designing and scoping projects for
eligibility for funding is key.
Developing new skills. They should also partner with startups
and academics to access new skillsets and invest in employee
reskilling and upskilling programs. For example, Enel has set a
target of upskilling and reskilling 70% of its employees before
redeployment from coal plants between 2023 and 2025.6
WEMO 2024
To enable decarbonization at speed, we’ve identified several
actions and enablers:
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