President Biden announces the formation of a 'First Movers Coalition' that includes Apple to Decarbonize Industry
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A new report from MarketWatch today covers President Biden's newly formed First Movers Coalition that was created to to spur on innovation to decarbonize industry that includes Apple, Amazon, Boeing and about 25 other large U.S. Corporations.
The Coalition represents eight major sectors that comprise 30% of global emissions that we now are dealing with,” Biden said during a speech to COP26 on Tuesday, adding that "These companies will be critical partners in pushing for viable alternatives to decarbonize these industrial sectors and more."
This first-ever buyer’s club, launched with more than 25 Founding Members, is designed to propel innovation and scale new decarbonization technologies, and will work to create demand-side commitments for low-carbon products in the aviation, shipping, steel, trucking, cement, chemicals, aluminum sectors as well as for direct air capture.
Jonathan Lewis, Director of Transportation Decarbonization at Clean Air Task Force (CATF): "We can’t meet our midcentury climate targets unless we eliminate greenhouse gas emissions from every major sector of the economy, including marine shipping, aviation, heavy trucking, and other hard-to-electrify parts of the transportation sector. Corporate-side initiatives like Cargo Owners for Zero Emission Vessels in the marine sector are essential; they need to be matched by the implementation of ambitious clean energy policies by countries around the world."
In the U.S., the Build Back Better Act includes provisions such as direct grants, incentives for zero-carbon fuels, and a commercialization policy package for carbon management technologies — all of which will help the U.S. steel and aluminum industries achieve lower carbon content over time and improve U.S. competitiveness in a decarbonizing world. The Bipartisan Infrastructure Bill, which has already passed the U.S. Senate, includes cost-share grants and low and zero interest loans for hydrogen, CO2 storage, and direct air capture hubs.