Big corporations to drive demand for low-carbon technologies like hydrogen

December 1, 2021

Roughly half the technologies required to achieve net-zero emissions from the world economy by 2050 are not ready for commercial deployment, but a new coalition of major companies could jump-start market demand to get these innovations to market within a decade, according to a senior adviser to U.S. President Joe Biden’s top climate envoy.

The idea is that coalition members can use their “enormous purchasing power” to commit to early procurement guarantees and policies supporting technologies like hydrogen and sustainable aviation fuel, sending a demand signal for innovations to curb planet-warming emissions in sectors that are the hardest to decarbonize, said Varun Sivaram, senior director for clean energy and innovation for Special Presidential Envoy for Climate John Kerry. The targeted sectors represent about a third of the world’s carbon emissions and include aviation, shipping, heavy trucking and steel, which are major consumers of fossil fuels.

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