Kerry Lines Up Pledges to Scrub Emissions From Carbon-Heavy Industries

October 5, 2021

Reaching net-zero emissions means not just having snazzy electric cars and shiny solar power plants, but also eliminating the carbon footprints of the steel and cement used to make them.

Some of the world’s biggest companies are signing up for a coalition created by John Kerry, U.S. special presidential envoy for climate, to scrub notoriously dirty industries, according to a list seen by Bloomberg Green. Shipping behemoth A.P. Moller – Maersk A/S, commodity giant Trafigura Group Pte. Ltd. and leading global cement maker Holcim Ltd. are among those in the First Movers Coalition set to launch in the coming weeks at the COP26 climate summit in Glasgow, Scotland.

The U.S. State Department and the World Economic Forum are teaming up to persuade global titans to commit to buying low-carbon products by 2030 or sooner in a bid to accelerate the push to meet climate goals and help develop greener supply chains. The full list of coalition members will be announced at COP26.

The commitments will target four sectors initially: aviation, shipping, steel and trucking. Technologies to cut pollution from them exists, such as sustainable jet fuel, ships running on methanol, steel made from green hydrogen and electric trucks. But those solutions often are a lot more expensive than fossil fuel-reliant routes, and the product supply isn’t always available at scale.

Read more here.

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