International Finance Corporation (IFC), the World Bank Group’s private-sector investment arm, has launched a $3.2 million advisory project to accelerate industrial decarbonization across emerging markets, focusing on Africa’s manufacturing, agribusiness, and services sectors.

According to information the IFC disclosed on Oct. 2, 2026, the initiative has an estimated budget of $3.17 million and is scheduled to run through June 2028.

IFC targets hard-to-abate industrial sectors

The project, approved on April 13, 2025, is designed to help private-sector companies identify, develop and implement commercially viable investments that reduce greenhouse gas emissions while improving energy and resource efficiency. The initiative will focus on manufacturing and other hard-to-abate sectors where reducing carbon emissions remains particularly challenging.

Through technical expertise, analytical support and advisory services, the IFC plans to help companies assess decarbonization opportunities and develop investment-ready projects.

Potential areas include industrial electrification, renewable energy integration, waste heat recovery, carbon management and digital technologies aimed at improving environmental performance.

The project will also support greenhouse gas assessments, evaluation of decarbonization measures and the development of monitoring and reporting systems for climate-related investments.

Project seeks to unlock private investment

Beyond individual companies, the IFC expects the initiative to contribute to broader industrial decarbonization programs in emerging markets and developing economies.

Working with other World Bank Group institutions and relevant stakeholders, the project may support stronger policy frameworks, financing mechanisms, technical capacity and market conditions needed to mobilize private capital into low-carbon industrial development.

The initiative will also promote collaboration among companies, financial institutions, technology providers, policymakers and industry experts.

Gender inclusion forms part of decarbonization strategy

The project will explore ways to integrate gender considerations into decarbonization investments, advisory engagements, workforce initiatives and climate-related financing solutions.

It will also support training programs, analytical studies and knowledge-sharing activities designed to strengthen technical capacity and disseminate best practices across participating markets.

With industrial sectors facing increasing pressure to reduce emissions while maintaining competitiveness, the IFC’s initiative seeks to combine technical assistance with commercially viable investment opportunities, helping businesses transition toward lower-carbon production while supporting sustainable industrial development across emerging markets.