Although China, the United States (US) and the European Union (EU) remain frontrunners in clean industry development, a bloc of emerging markets spanning Africa, Asia and South America is quickly catching up, showing the potential to overthrow the ‘longstanding dominance’ of these leading economies.

According to the newly released “Clean Industry: Transformational Trends” report by Mission Possible Partnership (MPP), a decarbonization-oriented coalition launched in 2021, nations from the fast-expanding “new industrial sunbelt” , such as Brazil, Morocco, Indonesia, Egypt and India, now account for 59% of the global $1.6 trillion pipeline of announced but not yet financed projects.