Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.
The First Movers Coalition, announced on November 4, is a partnership between the World Economic Forum and the United States State Department, represented by US Special Presidential Envoy for Climate John Kerry, and backed by 30 founding companies active in eight industrial sectors that are considered among the hardest to decarbonise - including steel, aluminium, cement and logistics.
The Coalition will be a platform where companies commit to buying emission-reduction technologies by 2030, with the aim of creating sufficient demand for the development of industrial decarbonization technologies, goods and services.
"The First Movers Coalition will leverage the collective purchasing power of leading companies and drive the need for these technologies," President of the World Economic Forum, in Glasgow B?,rge Brende said.
"In this critical decade, we not only need to deploy as rapidly as possible existing clean energy...