This report, part of the Carbon Management Research Initiative at the Center on Global Energy Policy at Columbia University SIPA, explores financial policy instruments that can make first-of-a-kind (FOAK) near-zero emission industrial facilities viable. The report finds that such FOAKs can then be used as low-risk, replicable models for rapidly transforming the “hard-to-abate” sectors and ultimately facilitating a transition to full net-zero emissions for industry as a whole.