Major firms sign up to emerging climate technology in supply chains

24th January 2024


Shutterstock 2320824291

Related Topics

Author

IEMA

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.

Subscribe

Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.


Transform articles

How much is too much?

While there is no silver bullet for tackling climate change and social injustice, there is one controversial solution: the abolition of the super-rich. Chris Seekings explains more

4th April 2024

Read more

One of the world’s most influential management thinkers, Andrew Winston sees many reasons for hope as pessimism looms large in sustainability. Huw Morris reports

4th April 2024

Read more

Alex Veitch from the British Chambers of Commerce and IEMA’s Ben Goodwin discuss with Chris Seekings how to unlock the potential of UK businesses

4th April 2024

Read more

Regulatory gaps between the EU and UK are beginning to appear, warns Neil Howe in this edition’s environmental legislation round-up

4th April 2024

Read more

Five of the latest books on the environment and sustainability

3rd April 2024

Read more

Ben Goodwin reflects on policy, practice and advocacy over the past year

2nd April 2024

Read more

In 2020, IEMA and the Institute and Faculty of Actuaries (IFoA) jointly wrote and published A User Guide to Climate-Related Financial Disclosures. This has now been updated to include three key developments in the field.

2nd April 2024

Read more

Hello and welcome to another edition of Transform. I hope that you’ve had a good and productive few months so far.

28th March 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close