The World Economic Forum and leaders of some of the world’s largest companies have announced the expansion of a partnership aimed at driving green technologies.
The Alliance of Prime Movers includes companies that make significant purchases around green technologies and down their supply chains. The idea is to send market signals that lead to more investment and scaling up of technologies such as green steel, green hydrogen, and carbon capture.
On Wednesday, he joined US climate envoy John Kerry Bill Gates, Salesforce co-CEO Marc Benioff, Google CFO Ruth Porat and several others to announce in Davos that the number of companies had risen from more than 30 to 55.
Sweden, India, Japan, Denmark, the United Kingdom and others have also joined the partnership first launched by the United States and the World Economic Forum.
“Many green products carry a price premium” over well-established fossil fuel technologies, Gates says, and that “the way you get rid of that is to increase production.”
The world’s top climate scientists warn that greenhouse gas emissions must be cut sharply this decade to keep warming at 1.5°C since pre-industrial times.
Meanwhile, the Andhra Pradesh government signed three MoUs for green power generation, while chiefs of big-ticket companies held discussions with Prime Minister YS Jagan Mohan Reddy at the World Economic Forum (WEF) Summit.
The state government has signed a Memorandum of Understanding with Aurobindo Reality Infrastructure to generate 6000 megawatts of green energy. Private Secretary Karikal Valavin signed on behalf of the state while Director Aurobindo Charachandra Reddy signed on behalf of the company.
The second Memorandum of Understanding was signed between the country and Greenko to generate 8000 megawatts of green energy. The agreement was signed by Karikal Falavin and Anil Chalamsetti of Greenco.
The third MoU has been signed with Ace Urban Developers to set up a carbon-neutral manufacturing unit in Machilipatnam. Karikal Falavin and Anil Chalametti were the signatories to the agreement.