Major firms sign up to emerging climate technology in supply chains

24th January 2024

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Almost 100 global companies have signed up to the World Economic Forum’s (WEF) First Movers Coalition, which aims to transform the supply chains across high-emitting sectors.

The coalition, a partnership between the WEF and US special presidential envoy for climate John Kerry launched at COP26, now has 96 members with more than 120 commitments to purchase net-zero emission goods and services from qualified suppliers by 2030.

The commitments represent an annual demand of $16 billion for emerging climate technologies by 2030. These are expected to account for 31 million tonnes in annual emissions reductions.

Highlights since the coalition’s launch include major global building solutions provider Holcim’s deal with founding member Volvo to use 1,000 zero-emission trucks across its operations. Microsoft has also signed a deal with Ørsted to buy around 2.7 million tonnes of carbon dioxide removal credits in 11 years.

Meanwhile, coalition members Delta, Bank of America and Ecolab joined forces with Xcel Energy and Greater MSP last August to launch a hub based in Minnesota to scale up the production of sustainable aviation fuel, which the WEF says is “the most promising lever known today” to decarbonise the aviation sector with lifecycle greenhouse gas emissions up to 80% lower than traditional jet fuel.

The WEF said 50% of the emission reductions needed to achieve net-zero by 2050 must come from technologies not yet available at scale, making the coalition’s mission critical.

“Together, the coalition’s member companies are sending an unprecedented signal of demand, which will serve to drive up investment in and production of the critical emerging technologies needed to decarbonise the most heavy-emitting industrial sectors,” said WEF president Børge Brende.


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