In an effort to motivate corporations around the world to prioritize clean energy when purchasing materials and establishing their supply chains, President Joe Biden on Tuesday announced the formation of a new group of private companies called the First Movers Coalition.


What You Need To Know

  • President Joe Biden on Tuesday announced the formation of a new group of private, global companies called the First Movers Coalition, a partnership with the U.S. and World Economic Forum

  • The group, which represents industries that account for nearly one-third of carbon emissions such as steel, aviation and more, includes 25 initial members and will launch Thursday

  • The companies will push for a green supply chain by committing to purchasing low-carbon products, aiming to spur innovation and move the needle across the globe

  • U.S. Special Presidential Envoy for Climate John Kerry is leading the charge along with the State Department

The group, which includes more than 25 major companies so far, is meant to set the standard in industries like steel, aviation, trucking, shipping, concrete and more, which together count for about 30% of the world’s carbon emissions.

The coalition will commit to buying low-carbon products by 2030, which is meant to signal more demand for clean technologies, such as electric trucks and “green” steel, in order to push for innovation and global movement toward a green supply chain.

Companies that have signed on include Apple, shipping company AP Møller–Mærsk, Boston Consulting Group, power company Vattenfall, Dalmia Cement, Volvo Group and the Fortescue Metals Group.

“We can't achieve our goals through government action alone,” Biden said Tuesday in Glasgow at the U.N Climate Change Conference. “These companies will be critical partners in pushing for commercially viable alternatives to decarbonize these industrial sectors and more.”

 

Businessman Bill Gates listens during the "Accelerating Clean Technology Innovation and Deployment" event at the COP26 U.N. Climate Summit, Tuesday, Nov. 2, 2021, in Glasgow, Scotland. (AP Photo/Evan Vucci, Pool)

 

The First Movers Coalition includes hundreds of billions of dollars in purchasing power, according to a White House fact sheet, creating a “buyers club” to spur market demand for clean energy.

U.S. Special Presidential Envoy for Climate John Kerry is leading the charge along with the State Department and the World Economic Forum.

Kerry, President Biden, and WEF President Børge Brende all met with business leaders in Scotland Tuesday to discuss the new effort, which officially launches on Thursday, Nov. 4, when all the members will be revealed. 

 

The First Movers Coalition is another piece of the U.S. plan to reduce carbon emissions and achieve net-zero emissions by 2050.