THE First Movers Coalition aims to create a market for new decarbonisation technologies and spur growth by leveraging collective demand and committing now to buying zero-emission goods and services by 2030.
Founding members, including A.P. Møller – Mærsk and Australia’s Fortescue Metals Group, are companies that recognise accelerating innovation is critical to keep climate goals alive. Each have made at least one purchasing commitment to phase one launch sectors.
The ambitious initiative is a partnership between the US Office of the Special Presidential Envoy for Climate John Kerry and the World Economic Forum.
Roughly half of the emission reductions needed to reach the 2050 climate goals rely on technologies in early development, demonstration or prototype phases. Accelerating innovation in this decade is critical to bring these technologies to market and make them cost-competitive.
The First Movers Coalition aims to create long-term impact by driving milestones this decade through investment into these technological solutions.
It will work across eight key sectors. Seven of these sectors — steel, cement, aluminum, chemicals, shipping, aviation, and trucking—account for more than a third of global carbon emissions, but do not have cost-competitive energy alternatives to fossil fuels. The eighth, direct air capture, could reduce atmospheric carbon-dioxide levels to help achieve net-zero global emissions but also requires technological innovation to reach commercial viability.
The First Movers Coalition provides opportunities for a wide range of companies to make commitments, take action and build the clean and profitable supply chains of the future. It also brings together a range of civil society and expert organisations to build momentum, complement ongoing efforts and input into the design of the initiative.
Børge Brende, president of the World Economic Forum, said, “Technology has given us the tools to reduce our emissions and build a stronger and more inclusive economy of the future.
“For innovators and investors to play their part in tackling the climate crisis, they need clear market demand.
“The First Movers Coalition will leverage the collective purchasing power of leading companies and drive the need for these technologies. I call on business leaders to work with us and be the role models keeping our climate goals alive.”
Phase one commitments target new technologies and aim to create a market by 2030 that can be ramped up to achieve decarbonisation in 2050. Founding members have made commitments in at least one of these sectors.
In relation to shipping, members commit to use zero-emission fuels in new and in retrofitted zero-emission vessels by 2030. Carriers set a target that at least 5% of their deep-sea shipping will be powered by zero-emission fuels by 2030, enabled by ships capable of using zero-emission fuels. Cargo owners set a target that at least 10% of the volume of their goods shipped internationally will be on ships using zero-emission fuels by 2030, on the way to 100% by 2040.
In relation to road freight, members commit to purchase or contract zero-emission medium and heavy-duty vehicles by 2030. These can include battery or fuel-cell electric vehicles and also incorporate renewable sources of electricity and hydrogen for charging. Trucking owners and operators also set a target that at least 30% of their heavy-duty and 100% of their medium-duty truck purchases will be zero-emission trucks by 2030. Retailers & manufacturers set a target that they will require all of their trucking service providers to meet the trucking owners and operators’ commitment by 2030.
Airlines and air transport companies set a target of replacing at least 5% of conventional jet fuel demand with sustainable aviation fuels that reduce lifecycle GHG emissions by 85% or more when compared with conventional jet fuel, and/or using zero-carbon emitting propulsion technologies by 2030.
The remaining sectoral commitments will launch in early 2022.
