U.S. climate envoy John Kerry, nearly three dozen large corporations including Apple and Amazon, and the World Economic Forum are launching an alliance to build a market for technologies that generate low levels of carbon dioxide.
The First Movers Coalition announced on Wednesday aims to help companies set their purchasing plans in a way that will “create new market demand for low-carbon technologies,” 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,” forum President Borge Brende said. “For innovators and investors to play their part in tackling the climate crisis, they need clear market demand.”
Brende was on hand for the U.N. climate conference in Glasgow known as COP26. Among the other companies involved in the coalition are aerospace company Boeing, cement company Holcim, and vehicle makers Volvo and Scania.
The World Economic Forum, a think tank best known for hosting an annual gathering of elites in Davos, Switzerland, says businesses need to send clearer signals to their suppliers to reach the goal of cutting greenhouse gas emissions to net-zero by 2050.
The first phase of the project will focus on emissions-heavy industries like aviation, shipping, steel and trucking. Operators of trucks, planes, cargo vessels and others would, among other things commit to using more sustainable fuels that have lower CO2 emissions.
© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.