This report highlights the experiences and perspectives of 20 industrial clusters in the World Economic Forum's Transitioning Industrial Clusters initiative. Despite unique geographical, infrastructure, policy and sectoral challenges, these clusters have developed comprehensive strategies to reach net zero while attaining their full economic and employment potential.

With industry accountable for 30% of global CO2 emissions, industrial clusters play a crucial role in accelerating the energy transition. Serving as vital hubs for technology scale-up, risk-sharing and resource optimization, they are pivotal in aggregating and optimizing energy demand. Moreover, industrial clusters represent an important building block of regional competitiveness, contributing to GDP and job creation.

This second edition in the series showcases the progress of signatory clusters in four key areas: partnerships, policy, financing and technology. Each cluster adopted a balanced set of targets and strategies to engage communities, companies and government entities, creating a sustainable and economically viable energy transition business model.