More than 50 global corporations and nine major governments, including the US and Japan, have committed to mobilising their multi-trillion dollar might to create a thriving marketplace for zero carbon technologies.
Targeting sectors responsible for 30% of global emissions, the coalition, which combined represents 40% of global GDP, will spend big on supplies of near-zero or zero-carbon solutions, which right now cost a premium, in a bid to trigger the growth of a commercially viable market that can support the scaling of these technologies.
The commitment is an important one, as the widespread adoption of zero carbon technologies will need to happen by 2030 to put the world on a path to being as close as possible to net zero by 2050.
Koichi Hagiuda, Japan’s Minister for Economy, Trade and Industry, said: “Japan will be a ‘First Mover’ country to become a strategic partner country of the First Mover Coalition. Japan will contribute to the creation of initial demand for the critical technologies needed for the green transformation. Japan will also actively promote the supply of critical technologies in which it has strengths and work on the development of the necessary standards.”
Find out more about the First Movers Coalition and how to join.