The coalition was set up by the World Economic Forum, in partnership with US Special Presidential Envoy for Climate John Kerry and aims to accelerate the innovation of emission-reducing technologies this decade while making them cost-competitive.
Maersk stands as a founding member of this initiative alongside other global brands such as Amazon and Apple.
“We still have a long way to go, but it is very encouraging to see that the ball is rolling. I’m delighted for us at Maersk to sign up to such a strong initiative and to see leading companies in hard-to-abate sectors make bold net-zero commitments, this is what is needed to drive real climate action in this decade,” said Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands at Maersk.
This move from the shipping liner directly links into its aims to have at least 5% of its deep-sea shipping operations powered by zero-emission fuels by 2030, this will also help commercialise decarbonisation.
Borge Brende, President of the World Economic Forum, added “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.”
This follows on from the news that Maersk has strengthened its sustainability portfolio further through investing in Vertoro to develop green lignin marine fuels.
Announced in October 2021, its investment in Netherlands-based bio-fuel producers Vertoro will be used to further develop and commercialise its patented liquid lignin technology and enable the Danish company to build a demo plant, set to become operational in 2022.