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-: Governments around the world are making progress
in promoting the decarbonization
of their country's economies through regulation,
carbon pricing, and taxation.
Yet governments themselves can have a direct positive impact
in reducing the world's carbon footprint.
Public procurement is responsible for 15%
of global greenhouse gas emissions.
Completely abating these emissions
will make a huge difference
in slowing global warming to less than 1.5 degrees Celsius.
And up to 75% of these emissions stem from
the activities of just six industries: defence and security,
transport, waste management services, construction,
industrial products, and also utilities.
-: Governments spend $11 trillion a year on procurement.
This is why they have the influence to create demand
for clean energy technologies and trigger innovations
and investments that are needed for our energy transition.
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This is why in conjunction with COP26,
UNIDO's Industrial Deep Decarbonisation Initiative
launched its Green Public Procurement Programme,
which intends to consolidate government purchasing power
to drive thriving markets for greener steel and concrete.
-: Decision-makers tend to overestimate the Green Premium
they will need to pay for less carbon-intense products
and services.
But we estimate that 40% of emissions
can be abated for less than $15 per tonne of carbon dioxide.
Globally, low-carbon procurement will increase costs
by just 3%.
And over time, this premium will decline
thanks to economies of scale and technological advancement.
The Green Premium will also trigger
innovation needed to sustain the green economy.
We anticipate $4 trillion in new investments,
3 million net new jobs,
and a $6 trillion boost to global GDP.
-: No single company or government can do this alone.
At the World Economic Forum,
we bring together stakeholders from all sectors
and society at large to improve the state of the world
through impact-driven initiatives.
To that end, we support key programmes
such as the Mission Possible Partnership
and the Industrial Deep Decarbonisation Initiative
to accelerate the public and private sector collaboration
needed to set us on the path to net zero.
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