By Marina Grossi*
Emerging economies in the Global South are leading a true silent revolution linked to low-carbon industries. Countries located in what has been called the "solar belt," formed by nations in Africa, Asia, Oceania, and South America, are attracting investment due to an unprecedented combination of abundant renewable energy, increasingly competitive costs, and favorable public policies, among other comparative advantages. A study released on the eve of COP30 in November 2025 by the Mission Possible Partnership, an initiative of the Industrial Transition Accelerator (ITA), indicates that the solar industrial belt already accounts for 59% of planned clean industrial projects worldwide, surpassing the United States, the European Union, and even China. Countries such as Brazil, India, Morocco, Chile, and Egypt stand out as trendsetters.
The survey indicates that the solar industrial belt concentrates a pipeline of US$1.6 trillion in announced projects, many of which are still seeking financing, distributed among 826 projects in 69 countries, in sectors such as low-carbon hydrogen and ammonia, sustainable aviation fuels (SAF), steel, cement, aluminum, fertilizers, and chemicals. Brazil is among the four countries in the belt with the largest portfolio of low-carbon industrial projects and the greatest potential, due to an electricity matrix with 89% of renewable sources and having experienced a relatively recent industrialization process.
Although the impetus of the Industrial Revolution only reached Brazil in the third decade of the 20th century, when the collapse caused by the 1929 global crisis forced the country to encourage domestic manufacturing to replace imported items, a century later, industry has become one of the main engines of the Brazilian economy, generating R$2.41 trillion in 2023, accounting for 25.5% of the Gross Domestic Product (GDP) and more than 20% of the jobs generated in the country. Another factor that positions Brazilian industry well within the context of a low-carbon economy is its regulatory framework. Since the beginning of the 1980s, Brazil has established its National Environmental Policy (Law No. 6,938/81) and has been improving its regulatory acts, which contribute to a cleaner industry more oriented towards environmental quality.
However, there are challenges to overcome. The Brazilian industrial sector is responsible for approximately 4% of greenhouse gas emissions, according to data from the Greenhouse Gas Emissions and Reductions Estimation System (SEEG Brasil), and has reiterated its commitment to seeking a reduction of 0.5% per year in the intensity of CO2 equivalent emissions relative to industrial GDP by 2032. At COP30, the Brazilian government opened a public consultation until January 17th on the National Industrial Decarbonization Strategy (ENDI), an initiative coordinated by the Ministry of Industry, Trade and Services (MDIC) that seeks to promote the decarbonization of the industrial sector as an engine of economic development, competitiveness, and innovation.
Aware of the opportunities presented by the transition to a low-carbon economy, Brazilian companies are already moving in this direction. The Brazilian Business Council for Sustainable Development (CEBDS) works with the public and private sectors to promote decarbonization pathways in different segments of the economy. Examples include the four business coalitions launched at the request of the COP30 Presidency for the transport, electricity, agriculture, and minerals sectors, which brought together more than 270 organizations and produced "roadmaps" for reducing greenhouse gas emissions, aligned with Brazil's Nationally Determined Contribution (NDC). In sectors where emissions reduction is more difficult – such as steel, cement, and aviation – CEBDS has been working with the Ministry of Development, Industry and Foreign Trade (MDIC) and the Industrial Transition Accelerator Brazil (ITA) to translate strategic solutions into concrete cases, focusing on impact, scalability, and replicability, as part of the government's industrial initiative of the Low Carbon Industry Technical Committee (CTIBC).
In the context of the solar industrial belt, there is still room for promoting technological partnerships and cooperation, so that Brazilian expertise can be shared with other countries, positioning Brazil as an emerging leader in the global low-carbon industry. International agreements and logistical and technological cooperation initiatives—such as partnerships between Brazilian and European ports aimed at decarbonizing transport and energy chains—indicate possible ways to increase competitiveness, reduce emissions, and create new market opportunities, even in a scenario still marked by uncertainties regarding future demand for green industrial products.
Initiatives like these, and others mapped by the ITA study, point to a clear trend: as the low-carbon industry advances, the Global South—especially the solar industrial belt—tends to gain relevance as a space for innovation, investment, and productive expansion. This movement opens the possibility of aligning economic development and climate ambition, in line with the objectives of the Paris Agreement, provided that the necessary conditions for its consolidation are created. Expanding international cooperation, strengthening financing instruments, and reducing barriers to investment will be decisive factors in transforming this potential into real-world development.
* Marina Grossi is the president of CEBDS (Brazilian Business Council for Sustainable Development), an organization with 28 years of experience and 120 large member companies, and Special Envoy of the COP30 Presidency for the Business Sector.
