Vattenfall joins First Movers Coalition
Today, the First Movers Coalition was launched at COP26 in Glasgow by the U.S. State Department and the World Economic Forum.
Vattenfall has joined as a founding member and is thereby committing to increasing the share of emerging technologies critical to the net-zero transition in its procurements.
“If we across industries can create a strong demand for new technologies that need to be developed in order to significantly reduce CO2-emissions in some of the most difficult sectors, that can speed up commercialisation of these products and thereby be essential to reach the 1.5 degree target. This is fully in line with Vattenfall’s strategy to make fossil free living possible within one generation and I am very optimistic about the future of this initiative,” says Anna Borg, President and CEO, Vattenfall.
U.S. Special Presidential Envoy for the Climate, John Kerry, has together with the World Economic Forum initiated the First Movers Coalition. It focuses on eight sectors that today comprise more than 30% of global CO2-emissions and where new technologies are needed to reduce emissions. In a first phase, commitments within four sectors have been presented and the joining companies commits to purchase shares by 2030 in one or more of these sectors.
Vattenfall has committed to:
- Put requirements towards its suppliers to use “breakthrough steel” that will enable the company to have at least 10% of the steel volumes procured annually by 2030 being breakthrough steel, like for example the Hybrit fossil free steel.
- Put requirements on its trucking service providers to meet the requirements of at least 30% of their heavy-duty and 100% of their medium-duty truck purchases being zero-emission trucks by 2030.
- Put requirements on airlines and air transport providers to replace at least 5% of conventional jet fuel demand with SAF (Sustainable Airline Fuels) that reduces life-cycle GHG emissions by 85% or more when compared with conventional jet fuel, and/or use zero-carbon emitting propulsion technologies by 2030.
Vattenfall has already committed to reduce the CO2 emissions from our business travel by air by 50% 2019-2022 and to make Vattenfall’s car fleet fossil free primarily via electrification.
“At the same time as we commit on increasing the share of low-carbon products and services that we buy, we are actively working in partnerships to develop these technologies, like for example with SSAB and LKAB in the Hybrit initiative for fossil free steel, and as we announced yesterday with SAS, Shell and LanzaTech to investigate large scale production of sustainable air fuel. Altogether we see big business opportunities in driving the transition towards a fossil free future,” says Anna Borg.