CEMEX and Holcim join FMC at COP26
Companies become founding members of First Movers Coalition to drive demand for zero-carbon technologies
CEMEX and Holcim have joined the First Movers Coalition (FMC) as founding members to drive more green demand and low-carbon technologies in this decade, to help advance the world’s climate goals.
Launched at COP26 by Secretary John Kerry, US Special Presidential Envoy for Climate, and the World Economic Forum (WEF), the new initiative unites more than two dozen of the world’s leading companies to accelerate innovation and the development of early stage decarbonization technologies by leveraging their combined purchasing power.
It is the only buyers’ club working to scale new and emerging technologies across the heavy industry and heavy-duty transport sectors.
According to the International Energy Agency (IEA), roughly half of the emission reductions needed to reach the critical 2050 climate target of keeping the global temperature increase below 1.5°C, compared with pre-industrial levels, will rely on new and emerging technologies.
The new coalition will work across eight key sectors, seven of which – steel, cement, aluminium, chemicals, shipping, aviation, and trucking – account for more than a third of global carbon emissions, but do not currently have cost-competitive energy alternatives to fossil fuels.
John Kerry said: ‘The First Movers Coalition is a platform for the world’s leading global companies to make purchasing commitments to create early markets for critical technologies needed to achieve net-zero by 2050.
‘In this critical decade, we not only need to deploy as rapidly as possible existing clean energy technologies, such as wind turbines, solar panels, and battery storage, but also drive innovation for our long-term decarbonization goals.’
CEMEX chief executive officer Fernando A. González commented: ‘We are proud to join forces with the World Economic Forum and other global companies to accelerate the development of critical new decarbonizing technologies.
‘Our shared goals and the investments announced today would not be possible without the steadfast leadership shown throughout this process by Special Presidential Envoy for Climate John Kerry and the World Economic Forum.’
Holcim chief executive officer Jan Jenisch said: ‘The net-zero transition requires unprecedented collaboration across value chains. The First Movers Coalition can achieve this. Together we can grow the demand for net-zero solutions to drive more investment in next-generation green technologies.
‘As one of the founding members, Holcim are committed to taking action on both the demand and supply side. We will buy more net-zero vehicles and continue to grow our range of green building solutions to scale up net-zero construction.’
Børge Brende, president of the World Economic Forum, commented: ‘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.’