The Ambitious Initiative Was Kickstarted by the World Economic Forum, in Partnership with US Special Presidential Envoy for Climate John Kerry
LONDON—Boston Consulting Group (BCG), one of the world’s leading management consulting firms, announces its participation in the First Movers Coalition, a joint effort by the World Economic Forum in partnership with US Special Presidential Envoy for Climate John Kerry, to drive demand for zero emissions across the value chain of hard-to-abate sectors.
Almost half of the emissions reductions needed to reach the 2050 climate goals rely on technologies in early development, demonstration, or prototype phases. Thus, accelerating innovation in this decade is critical to bringing these technologies to market and making them cost-competitive.
BCG will be a founding member of the First Movers Coalition alongside many other leading businesses. The new platform enables companies to make purchasing commitments across eight sectors that create market demand for zero-emission technologies
BCG’s commitment as a member of the First Movers Coalition is to partner with air transport operators to replace at least 5% of conventional jet fuel used for our air travel with sustainable aviation fuels that reduce lifecycle greenhouse gas emissions by 85% or more when compared with traditional jet fuel, or with zero-carbon emitting propulsion technologies, by 2030.
Christoph Schweizer, BCG’s CEO commented, “BCG is proud to be a part of this significant new coalition and bring our climate and sector expertise to help develop demand commitments across hard to abate sectors.”
Rich Lesser, BCG’s Global Chair, added, “Businesses have a critical role to play to achieve a 1.5C pathway which can only be reached if we dramatically accelerate the development and scaling of new decarbonizing technologies.”
With commitments across the value chain of each sector, the First Movers Coalition creates collective demand for supply-side companies to develop zero-emissions and purchasing commitments for zero-emissions goods and services by 2030. It will work across eight key sectors. Seven of these sectors — steel, aviation, shipping, trucking, cement, aluminium, and chemicals —account today for more than a third of global carbon emissions, but do not have cost-competitive energy alternatives to fossil fuels. The eighth, direct air capture, could reduce atmospheric carbon dioxide levels to help achieve net-zero global emissions and require technological innovation to reach commercial viability.
The commitments aim to be collectively significant enough to commercialize emerging decarbonization technologies. In addition, the First Movers Coalition will collaborate with supply-side companies in the initiatives sectors to help achieve these commitments.
Børge Brende, President of the World Economic Forum, said, “Technology has given us the tools to reduce our emissions and build a stronger and more inclusive economy of the future. For innovators and investors to play their part in tackling the climate crisis, they need clear market demand. The First Movers Coalition will leverage the collective purchasing power of leading companies and drive the need for these technologies. I call on business leaders to work with us and be the role models keeping our climate goals alive.”
The First Movers Coalition provides opportunities for a wide range of companies to make commitments, take action, and build the clean and profitable supply chains of the future. It also brings together a range of civil society and expert organizations to build momentum, complement ongoing efforts, and provide input into the initiative's design.
For further information, please contact Brian Bannister at +44 7919 393753 or firstname.lastname@example.org.
A.P. Møller – Mærsk
Bain & Company
Bank of America
Boston Consulting Group
Dalmia Cement (Bharat) Limited
Deutsche Post DHL Group
Fortescue Future Industries
SSAB Swedish Steel
ZF Friedrichshafen AGVolvo Group
ZF Friedrichshafen AG
The First Mover Coalition commitments have been developed with support from Design Committee and Expert Members; Primary Implementation Member Breakthrough Energy, and Boston Consulting Group.