A new report from the Mission Possible Partnership finds that low-carbon industrial projects reaching final investment decision more than doubled year on year to 19 projects worth $43 billion. China accounted for 13 of those funded projects, spanning sectors like methanol and aluminum, while only one was in the United States. The report notes that while the US still has a significant pipeline of 72 announced projects, that number dropped by 20 over the past 12 months. In contrast, China has 170 announced projects, and sunbelt countries including India and Brazil have 318. The report attributes the acceleration partly to fossil fuel price volatility following geopolitical instability.
