First Movers Coalition Surpasses 120 Commitments, Emerges As Largest Private Sector Demand For Climate Technologies

The World Economic Forum (WEF) announced today that the First Movers Coalition (FMC), a global initiative jointly established by the WEF and the United States government, has achieved a significant milestone by becoming the world's largest private sector demand signal for emerging climate technologies. With over 120 commitments from 96 members, the FMC is at the forefront of efforts to decarbonise heavy-emitting sectors globally. 

Børge Brende, President of the World Economic Forum, highlighted the impact of private sector collaboration in driving substantial climate action. "The First Movers Coalition is proving the power of private sector cooperation to drive meaningful climate action. Together, FMC's member companies are sending an unprecedented signal of demand, driving investment and production of critical emerging technologies for decarbonising industrial sectors." 

Recognising that half of the necessary emissions reductions by 2050 must come from technologies not yet widely available, the FMC focuses on creating demand to kickstart markets and catalyse commercial adoption. Member companies have committed to purchasing near-zero emission goods and services using breakthrough climate technologies by 2030. 

These commitments span seven key sectors: aluminium, aviation, carbon dioxide removal, cement and concrete, shipping, steel and trucking. By 2030, these commitments are expected to generate an estimated annual demand of USD 16 billion for emerging climate technologies and result in a reduction of 31 million tonnes (Mt) of annual CO2 emissions. 

John Kerry, US Special Presidential Envoy for Climate, emphasised the vital role of FMC in addressing challenging sectors. "The First Movers Coalition is driving critical progress in some of the hardest-to-address sectors. Members' offtake agreements and investments in decarbonisation projects provide confidence to the market, accelerating the development and availability of breakthrough technological solutions for deep decarbonisation." 

Since its launch at COP26, the coalition has grown from 35 to 96 members, including recent additions such as Qatar Airways, Velux, The Coca Cola Company and GE Vernova, among others. Members have made significant progress on commitments, participating in 94 offtake agreements or investment projects for emerging climate technologies. 

In addition to these achievements, the FMC announced new initiatives aimed at identifying breakthrough decarbonisation technologies and supporting its members in meeting commitments. 

Sustainable Aviation Challenge 

The UpLink-FMC Sustainable Aviation Challenge, in collaboration with Salesforce and other industry partners, will select 16 innovative start-ups accelerating the decarbonisation of the aviation industry. The challenge focuses on sustainable aviation fuel, battery-powered and hydrogen-powered flight. 

“Air travel is crucial for global connectivity and economic growth, but its environmental impact cannot be ignored. This is why initiatives like the UpLink-First Movers Coalition Sustainable Aviation Challenge are paramount to accelerating climate action,” remarked Suzanne DiBianca, Executive Vice-President and Chief Impact Officer of Salesforce. 

Near-Zero Steel 2030 Challenge 

In collaboration with Greenhouse, BCG, ResponsibleSteel and RMI, the FMC is running a challenge to identify both the supply and demand for near-zero emissions steel and enabling technologies. The challenge received 67 submissions, including 15 representing aggregated demand volume of 2.3M tonnes of near-zero steel purchase potential. 

First Suppliers Hub 

The FMC launched the First Suppliers Hub, a global repository of innovative technologies and suppliers meeting FMC commitment thresholds. The hub features over 80 decarbonisation efforts and will serve as a resource for organisations progressing towards their decarbonisation goals. 

Sustainable Procurement Guide 

The FMC Cement and Concrete Procurement Guide provides clarity on product category rules and key issues for procurement teams, assisting them in developing environmental product declarations and reaching FMC thresholds. 

The First Movers Coalition continues to play a pivotal role in advancing global decarbonisation efforts, harnessing the purchasing power of leading companies to create guaranteed early markets for advanced technologies and ultimately achieving net-zero solutions for carbon-intensive sectors by 2050.