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 bringing these technologies to market and making them cost-competitive.
To jumpstart this effort, the World Economic Forum, in partnership with US Special Presidential Envoy for Climate John Kerry, announced the First Movers Coalition – a new platform for companies to make purchasing commitments that create new market demand for low carbon technologies.
Alongside global brands such as Amazon and Apple, A.P. Moller – Maersk is a founding member of the coalition.
“We still have a long way to go, but it is very encouraging to see that the ball is rolling. I’m delighted for us at Maersk to sign up to such a strong initiative and to see leading companies in hard to abate sectors make bold net-zero commitments, this is what is needed to drive real climate action in this decade,” says Henriette Hallberg Thygesen, A.P. Moller – Maersk CEO of Fleet & Strategic Brands, who in the presence of EC President Ursula Von der Leyen and U.S. President Joe Biden signed Maersk up to the initiative at the COP26 summit in Glasgow, Scotland.
Maersk is signing up to a target that at least 5% of its deep-sea shipping operations will be powered by zero-emission fuels by 2030. The commitments aim to be collectively significant enough to commercialize decarbonization technologies. They follow similar ambitions from leading global retailers last month, where brands including Unilever, Ikea and Inditex announced a target to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040.
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