As a founding member, ENGIE joined today the First Movers Coalition (FMC), officially launched at the COP 26. The coalition is a partnership between the World Economic Forum and the U.S. Office of the Special Presidential Envoy for Climate John Kerry. By joining the coalition, ENGIE aims to bolster demand and supply for low-carbon technologies, crucial to reducing global emissions and reaching the 2050 climate goals.
Focusing on hard-to-abate sectors, where green gases and green fuels are required - in particular aviation, shipping, trucking, steel - the First Movers Coalition is a new collective initiative aiming at accelerating by 2030 the development at scale of competitive net zero carbon supply chains. Member companies are to spur net zero demand and supply by committing to purchasing zero-emission solutions for a portion of their value chains.
Committed to making the FMC a success and in line with the Group’s existing commitment to have 100% of its preferred suppliers SBTi[1] certified by 2030, ENGIE aims at setting clear targets to support the decarbonization of its customers and of the global economy.
The Group intends to also fully embrace its role as a net zero solutions supplier for hard-to-abate sectors, in line with its ambitions in renewable energy and distributed infrastructure, targeting especially 4 GW of renewable hydrogen capacity by 2030.
Catherine MacGregor, ENGIE CEO, said: “ENGIE is very proud to be a founding member of the First Movers Coalition. As a leader of the energy transition and an industrial player, ENGIE is committed to supporting the development of competitive net zero supply chains at scale. Joining this cross-sectoral coalition is one more step in ENGIE’s longstanding commitment to net zero and is in line with the Group’s purpose to accelerate the energy transition.”
Footnotes
- ^ [1] The Science Based Targets initiative is a set of methodologies which make it possible to confirm on a scientific basis that the GHG emissions trajectory of a given organization is compatible with the objective of limiting the average global temperature increase to 2° C or 1.5° C. Some of these methods make use of the notion of a carbon budget divided between different economic sectors.
