Global giants such as Amazon and Apple and Mahindra Group and Dalmia Cement (Bharat) from India have joined as the founding members of the ‘First Movers Coalition’ to work on the driving demand for carbon technologies.
The Coalition was launched at the COP26 Summit held in Glasgow.
Nearly half of the emissions reductions needed to reach the 2050 weather forecasts depend on technologies in the initial development, deployment or design stages, while innovation acceleration in this decade will be crucial to improve technologies these devices come on the market and make them competitive.
To jump-start this effort, WEF, in partnership with U.S. Special Representative for Climate Change John Kerry, has announced the first Movers Alliance, a new platform for companies to make purchase agreements that create new market demand for technologies. small carbon machine.
Contracts aim to be totally important enough to trade decarbonisation technologies. The partnership will create a long-term impact by driving milestones this decade by investing in these technology solutions.
It will operate across eight key sectors, seven of which – steel, cement, aluminum, chemicals, shipping, aviation, and transportation – account for more than a third of global carbon emissions but without cost-effectiveness purifying others to fossil fuels. .
Eighth, direct air pollution, can reduce global carbon dioxide levels to help achieve global net emissions but also require technological innovation to reach business viability, the WEF said.
Creating members of the Alliance include Agility, Airbus, Amazon, Apple, Bain & Company, Bank of America, Boston Consulting Group, Boeing, Dalmia Cement (Bharat) Limited, Delta Air Lines, Mahindra Group, Nokia, ReNew Power, Salesforce, United Airlines, Volvo Group and Yara International.