U.S. climate envoy John Kerry, nearly three dozen large corporations and the World Economic Forum are launching an alliance to build a market for technologies that generate low levels of carbon dioxide.
U.S. climate envoy John Kerry, nearly three dozen large corporations including Apple, Amazon and Boeing, and the World Economic Forum are launching an alliance to build a market for technologies that generate low levels of carbon dioxide.
“Technology has given us the tools to reduce our emissions and build a stronger and more inclusive economy of the future,” WEF President Borge Brende said. “For innovators and investors to play their part in tackling the climate crisis, they need clear market demand.”Purchasing commitments will initially target four hard-to-abate sectors: shipping, aviation, steel and trucking. Four additional sectors will be targeted beginning in 2022.
Among the companies who have already joined the First Movers coalition are Apple AAPL, -0.35%, Amazon AMZN, +2.75%, Boeing BA, -0.16%, Boston Consulting Group, AP Møller–Mærsk, Vattenfall, Dalmia Cement, Volvo Group, Fortescue Metals Group and Yara International. Airlines and air transport companiesset a target of replacing at least 5% of conventional jet fuel demand with SAF that reduces life-cycle GHG emissions by 85% or more when compared with conventional jet fuel, and/or using zero-carbon emitting propulsion technologies by 2030;
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