India joins coalition to cleanup carbon-intensive industries
INDIA has joined the First Movers Coalition, a global initiative aimed at decarbonizing the heavy industry and long-distance transport sectors responsible for 30 percent of global emissions, US Special Presidential Envoy for Climate John Kerry said.
Launched by President Joe Biden and the WEF at COP26 as a flagship public-private partnership to clean up the most carbon-intensive sectors, also saw 50 new corporate members with collective market cap of $8.5tn joining the force.
Besides India, Denmark, Italy, Japan, Norway, Singapore, Sweden and the UK have also joined the US as government partners to create early markets for clean technologies through policy measures and private sector engagements.
India, along with Japan and Sweden, has also joined the steering board of the coalition.
Kerry made the announcement alongside Bill Gates, founder of Breakthrough Energy, at a press briefing hosted by the World Economic Forum in Davos during its Annual Meeting 2022.
Indian Minister Piyush Goyal said, ‘India has been at the forefront of climate change actions. The idea of LIFE - ‘Lifestyle For Environment' - as highlighted by Prime Minister Narendra Modi and the call for a global mass movement on sustainable lifestyles, is very critical for combating climate change.'
India has also taken global leadership with initiatives like the International Solar Alliance, One Sun One World One Grid, and the Coalition for Disaster Resilient Infrastructure, he added.
‘We believe that the need of the hour is to strengthen technological innovation so as to have cost-effective climate technologies on a larger scale. The First Movers Coalition has a huge role to play in this and to achieve our climate goals,' Goyal added.
Led by the WEF and the US government, the First Movers Coalition targets sectors, including aluminium, aviation, chemicals, concrete, shipping, steel and trucking, which are responsible for 30 percent of global emissions.