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UPSC CURRENT AFFAIRS | INDIA JOINED FIRST MOVERS’ COALITION TO DECARBONISE CARBON-HEAVY SECTORS | 31TH MAY |BUSINESS STANDARD

/ May, 2022, UPSC Daily Current Affairs

SYLLABUS SECTION: GS III (ENVIRONMENT AND ECOLOGY)

WHY IN THE NEWS? 

Recently, India joined the First Movers Coalition led by the WEF and the US government.

What is First Movers Coalition?

  • It is a global initiative, aimed at decarbonising the hard to abate heavy industry and long-distance transport sectors.
  • Which are currently responsible for 30 per cent of global emissions.
  • It industrial sectors that were targeting include Aluminium, Aviation, Chemicals, Concrete, Shipping, and Steel.
  • Trucking was also along with innovative Carbon Removal technologies.
  • Two new target sectors were adding during COP26: carbon dioxide removal and aluminium.
  • Joining the four existing sectoral pledges (aviation, shipping, steel and trucking) launched at COP26.

When First Movers Coalitions was launch?

  • This coalition launch by US President Joe Biden and the WEF at COP26 as a flagship public-private partnership.
  • And They were also ask to clean up the most carbon-intensive sectors.
  • Besides India, Denmark, Italy, Japan, Norway, Singapore, Sweden and the United Kingdom have also joined the US as government partners.

Recent Developments Related to the First Movers Coalition:

  • Purchase of near-zero or zero-carbon solutions: Out of their total industrial materials and long-distance transport spending, the coalition’s members have committed that they will purchase, a percentage from suppliers using near-zero or zero-carbon solutions, despite the premium cost.

 

  • Private Companies to Join the Coalition: These government partners will invite companies from their countries to join the coalition.

 

 

  • Public Policies to Commercialise the Green Technologies: The government partners will pursue, public policies to commercialise the green technologies, and corporate members commit to purchasing.

 

  • Members of Steering Board: In addition to the US government, the coalition now has India, Japan and Sweden on the Steering Board.

 

 

  • Corporate Members: The new corporate members include global technology giants Alphabet and Microsoft, along with AES, Aveva, Ball Corporation, BHP, Consolidated Contractors Company, Ecolab, Enel, EY, FedEx, Ford Motor Company, HeidelbergCement, Mitsui OSK Lines, National Grid, Novelis, PWC, Schneider Electric, Swiss Re and Vestas.

MOVERS COALITION

 

Significance of the Coalition:

  • A global mass movement on sustainable lifestyles is very critical for combating climate change.
  • It will strengthen technological innovation to have cost-effective climate technology on a larger scale.
  • The commitment of future purchasing to clean technologies in this decade, will create a market tipping point and accelerate their affordability and drive long-term, net-zero transformation across the industrial value chain.
Some Global Initiatives related to Renewable Energy of which India is a Member:
  • International Solar Alliance:
  • The International Solar Alliance (ISA) is an action-oriented, member-driven, treaty based collaborative platform for increased deployment of solar energy technologies.
  • It is an Indian initiative.
  • It was launched by the Prime Minister of India and the President of France on 30th November 2015 in Paris, France on the sidelines of the UNFCCC COP21. with 121 solar resource-rich countries lying fully or partially between the tropic of Cancer and the tropic of Capricorn as prospective members.
  • One Sun One World One Grid:
  • Its objective is to aid in developing a worldwide grid through which clean energy can be transmitted anywhere, anytime (use power at night in one part of the world from solar energy generated on another side of the world where it is daytime).
  • Its ultimate goal is to reduce carbon footprints and energy costs.
  • It was jointly released by Prime Minister Narendra Modi and UK Prime Minister Boris Johnson at the COP26 Climate Meet in Glasgow.

 

  • Coalition for Disaster Resilient Infrastructure:
  • It is a multi-stakeholder global partnership of national governments, UN agencies and programmes, multilateral development banks and financing mechanisms, the private sector, and knowledge institutions.

Read more: UPSC CURRENT AFFAIRS

Source: Business Standard