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First Movers Coalition

Posted on May 27, 2022 by admin1  54

In News

  • Recently, India joined the First Movers Coalition to decarbonise carbon-heavy sectors.

About First Movers Coalition

  • Initiative:
    • It is led by the World Economic Forum and the US government.
    • It was launched at COP26 as a flagship public-private partnership to clean up the most carbon-intensive sectors.
  • Aim:
    • to create early markets for clean technologies through policy measures and private sector engagements.
    • The coalition’s members have committed to purchasing out of their total industrial materials and long-distance transport spending a percentage from suppliers using near-zero or zero-carbon solutions, despite the premium cost.
  • Target:
    • It is a global initiative aimed at decarbonising the heavy industry and long-distance transport sectors responsible for 30 percent of global emissions.
    • The First Movers Coalition targets sectors, including aluminium, aviation, chemicals, concrete, shipping, steel and trucking.
      • A proportion expected to rise to over 50 percent by mid-century without urgent progress on clean technology innovation.
    • The coalition also announced two new target sectors: carbon dioxide removal and aluminium, which join the four existing sectoral pledges (aviation, shipping, steel and trucking) launched at COP26.
  • Participation:
    • Besides India, Denmark, Italy, Japan, Norway, Singapore, Sweden and the United Kingdom have also joined the US as government partners to create early markets for clean technologies.
    • India, along with Japan and Sweden, has also joined the steering board of the coalition.
  • India’s initiative towards climate change:
    • India has been at the forefront of climate change actions.
    • The idea of LIFE – “Lifestyle for Environment” as highlighted by PM and the call for a global mass movement on sustainable lifestyles, is very critical for combating climate change.
    • India has also taken global leadership with initiatives like the International Solar Alliance, One Sun One World One Grid, and the Coalition for Disaster Resilient Infrastructure.

Source: BS

 
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