Ford is to join the First Movers Coalition, a global initiative of more than 50 companies to harness purchasing power and supply chains to help commercialise zero-carbon technologies and create early markets for innovative clean energy technologies.
Collectively coalition members have a market value of about $8.5 trillion across five continents. For its part, Ford is committing to purchase at least 10 per cent near-zero carbon steel and aluminium by 2030.
Led by the World Economic Forum, currently meeting at Davos, and the US Government, the First Movers Coalition targets sectors including aluminium, aviation, chemicals, concrete, shipping, steel, and trucking, which are responsible for 30 per cent of global emissions – a proportion expected to rise to over 50 per cent by mid-century without urgent progress on clean technology innovation.
According to the World Economic Forum, aluminium represents 2 per cent of global emissions. Ford already recycles around nine million kilograms of aluminium each month at its Dearborn Stamping, Kentucky Truck and Buffalo Stamping facilities. Making recycled aluminium only takes around 5 per cent of the energy needed to make new aluminium, according to the Aluminium Association.
“Reducing emissions to carbon neutral by 2050 is possible if we invest in the right technologies and bring them to scale within the next decade,” said Ford Director of Supply Chain Sustainability Sue Slaughter. “By joining the First Movers Coalition, Ford is signalling to the market that we want to work with our suppliers to achieve commercially viable green steel and aluminium. The intent and significance of our commitment has the potential to help build the net-zero economy.”