India joins US-led alliance to clean up carbon-intensive industry – EQ Mag Pro
DAVOS: India has joined the First Movers Coalition, which is led by the United States and aims to clean up the most carbon-intensive industries, ranging from heavy industrial to long-distance transport.
The group announced a huge increase on Wednesday, with more than 50 corporate members worth USD 8.5 trillion and nine leading nations, including the United States, covering more than 40% of global GDP.
At a press conference organised by the World Economic Forum, US Special Presidential Envoy for Climate Change John Kerry made the announcement with Bill Gates, creator of Breakthrough Energy.
The alliance also welcomed India, Japan, and Sweden to the steering committee, as well as Denmark, Italy, Norway, Singapore, and the United Kingdom as government partners.
These government partners will ask corporations from their own nations to join the coalition, and they will push public policies to commercialise the green technologies that corporate members agree to buy.
Source: PTI
