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Wednesday, April 17, 2024

Höegh Autoliners joins First Movers Coalition

Höegh Autoliners has joined the First Movers Coalition (FMC) to send a strong market demand signal for the emerging technologies essential for a net-zero transition. Höegh Autoliners has committed to running at least 5 % of our deep sea operations on either green ammonia or green methanol by 2030.

Led by the World Economic Forum and the US Government, the First Movers Coalition targets hard-to-abate sectors including aluminium, aviation, chemicals, concrete, shipping, steel, and trucking, which are responsible for 30% of global emissions.

More than 50 companies including Ford Motor Company, Volvo Group, Aker ASA, Yara International, Amazon and A.P. Møller – Mærsk with a combined collective market value of about USD 8.5 trillion across five continents now make up the coalition to help commercialize zero-carbon technologies.

By joining the coalition as one of the first shipping companies, Höegh Autoliners commits to running at least 5% of our deep sea shipping on zero-emission fuels by 2030, enabled by ships capable of using zero-emission fuels.

In general, FMC member companies commit to purchasing a percentage of near-zero or zero-carbon solutions from suppliers, despite the premium cost.

If enough global companies commit a certain percentage of their future purchasing to clean technologies in this decade, this will create a market tipping point that will accelerate their affordability and drive long-term, net-zero transformation across industrial value chains. All FMC members must deliver on their commitments by 2030.

“I am delighted to announce that we have joined the First Movers Coalition. This is a proud moment for our company and a decisive step on our path to zero and our ambitious target of being carbon neutral by 2040. Through our Aurora new building program, we firmly believe we will be able to meet or exceed the aim of having 5% of our deep sea operation on carbon neutral fuels, and we encourage both our customers and competitors to also join the FMC. The quest for a greener future is more important than ever, and something we must all contribute to,” says Höegh Autoliners CEO, Andreas Enger.

The First Movers Coalition was launched during COP-26 in Glasgow in November 2021 and was initiated by the US State Department, through Special Presidential Envoy for Climate John Kerry, and the World Economic Forum.

“We are very happy to welcome Höegh Autoliners into the coalition. The shipping industry is an important focus for FMC, and as sustainability frontrunners within their sector, we believe Höegh Autoliners has a lot to bring to the First Movers Coalition. We look forwarding to working together to decarbonize supply chains and secure a genuine net-zero transition,” says Nancy Gillis, Head of the First Movers Coalition. 

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