{"id":8201,"date":"2024-01-19T12:40:25","date_gmt":"2024-01-19T11:40:25","guid":{"rendered":"https:\/\/www.movinonconnect.com\/?p=8201"},"modified":"2024-01-19T12:48:24","modified_gmt":"2024-01-19T11:48:24","slug":"automakers-take-demanding-roles-davos-first-movers-coalition","status":"publish","type":"post","link":"https:\/\/www.movinon.eu\/en\/nos-actualites\/automakers-take-demanding-roles-davos-first-movers-coalition\/","title":{"rendered":"Automakers take demanding roles in Davos First Movers Coalition"},"content":{"rendered":"
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Automakers take demanding roles in Davos First Movers Coalition<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Automakers take demanding roles in Davos First Movers Coalition<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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In Davos-Klosters, Switzerland, this week, the World Economic Forum is holding its annual meeting, gathering the world\u2019s foremost leaders under the theme “Rebuilding Trust.” Within the Forum, a new organization is forming – the First Movers Coalition – which includes three of the world’s largest automakers – Ford, General Motors and Volvo.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Recycled material makes up a large proportion of the materials in new Volvo cars. Nearly 25 percent of all aluminum in Volvo's electric, small SUV EX30 2025, (shown here) is recycled, while 17 percent of all steel and plastic in the car also comes from recycled sources. (Photo courtesy Volvo Cars)<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The First Movers Coalition aims to use the demands of global companies to unlock the potential of emerging technologies needed to decarbonize the world by 2050.<\/p>

The First Movers Coalition, FMC, a global public-private partnership by the World Economic Forum and the United States government to decarbonize the world\u2019s heavy-emitting sectors, announced that it now represents “the largest private sector demand signal for emerging climate technologies in the world,” with more than 120 commitments from 96 members.<\/p>

World Economic Forum leaders praised the forward-looking corporations involved in the First Movers Coalition.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\u201cTHE FIRST MOVERS COALITION IS PROVING THE POWER OF PRIVATE SECTOR COOPERATION TO DRIVE MEANINGFUL CLIMATE ACTION. TOGETHER, FMC\u2019S MEMBER COMPANIES ARE SENDING AN UNPRECENDENTED SIGNAL OF DEMAND, WHICH WILL SERVE TO DRIVE UP INVESTMENT IN AND PRODUCTION OF THE CRITICAL EMERGING TECHNOLOGIES NEEDED TO DECARBONIZE THE MOST HEAVY-EMITTING INDUSTRIAL SECTORS.\u201d\u00a0 \u00a0-Borge Brende, president World Economic Forum<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Half of the emissions reductions needed by 2050 must come from technologies not yet available at scale, so creating demand for these technologies will be essential to kickstart the market and catalyze their commercial adoption, the FMC reasons.<\/p>

To support creating demand this way, FMC members have collectively made commitments to purchase near-zero emission goods and services that use breakthrough climate technologies by 2030.<\/p>

These commitments cover seven sectors – three of them fully transportation-related: aviation, shipping, and trucking, and the other four sectors – aluminum, carbon dioxide removal, cement and concrete, and steel – also of interest to the automakers Ford, GM and Volvo.<\/p>

By 2030, purchase commitments in these seven sectors will represent an estimated annual demand of US$16 billion for emerging climate technologies and 31 million tonnes (Mt) CO2e in annual emissions reductions.<\/p>

“The First Movers Coalition is driving critical progress in the some of the hardest to address sectors,” John Kerry, US Special Presidential Envoy for Climate, said. “As members participate in offtake agreements and invest in decarbonization projects in support of the FMC commitments, they continue to give confidence to this market to develop faster.”<\/p>

“This approach is pivotal in expanding the use and availability of the breakthrough technological solutions that will enable the deep decarbonization of heavy-emitting sectors,” Kerry said, as shown in the image below.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Kerry explained, “The coalition has achieved scale across the world\u2019s leading companies and support from committed governments around the world to tackle the hardest challenge of the climate crisis: reducing the emissions from the sectors where we don\u2019t yet have the toolkit to replace unabated fossil fuels and swiftly reach net-zero emissions.”<\/p>

From 35 members when the First Movers Coalition opened in 2021 at COP26 in Glasgow, Scotland, the coalition has now expanded to 96 members and includes some of the world\u2019s largest companies.<\/p>

The most recent members to join the First Movers Coalition include four transportation corporations:<\/p>