– Altogether, the First Movers Coalition represents a demand for goods of 16 billion dollars in 2030. Never before have we seen such a large demand for climate technology from the private sector. These companies are committed to changing the way they procure basic goods and services such as steel, aluminium, concrete, as well as jet fuel and shipping. And our friends in Norway have been the first, also within this group, and taken concrete steps to meet these obligations, says John Kerry, the US special envoy for climate change.
The FMC was launched during COP26 to help decarbonise the world‘s biggest emitting sectors with the help of the private sector and their demand for climate technology. In the course of two years, it has become a leading, global coalition consisting of 96 companies that have entered into various partnerships and established new business models.
Seven Norwegian companies are members of FMC: Yara International, which has been involved since the coalition was established in 2021, as well as Hydro, Aker Biomarine, Choose, Höegh Autoliners, Norsk Stål and Norge Mining.
– The green shift is not about subsidies, but about investments. We must collaborate across entire value chains, as well as the private and public sectors. Many solutions for decarbonisation already exist, but supply and demand must be developed in parallel. At Yara, we will drive forward the green shift in shipping, fertilizer production and other power-intensive industries, including through the production of low-emission ammonia, and we are now working on what will be the world‘s first container ship that uses low-emission ammonia as fuel, the Yara Eyde, says Svein Tore Holsether, CEO of Yara and NHO president.
FMC targets sectors that do not have competitive alternatives to fossil energy, such as steel, cement, aluminium, chemicals, shipping, aircraft and transport, as well as carbon capture. Together, these sectors account for more than a third of global greenhouse gas emissions.
The members have collectively committed to more than 120 climate measures, which entails a demand for new climate technology corresponding to 16 billion dollars annually by 2030. By adopting these technologies, the annual greenhouse gas emissions will be cut by 31 million tonnes of CO2 equivalents. In comparison, the total greenhouse gas emissions in Norway were 48.9 million tonnes in 2022.