The FMC is a coalition of companies using their purchasing power to create early markets for innovative clean technologies across eight hard to abate sectors. These in-scope sectors are responsible for 30% of global emissions–a proportion expected to rise to over 50% by mid-century without urgent progress on clean technology innovation.
Commitments for the first four sectors (Aviation, Shipping, Steel and Trucking) were launched in November 2021, at COP26 in Glasgow. The Aluminum and Carbon Dioxide Removal sectors were launched at the May 2022 World Economic Forum Annual Meeting in Davos, and the Cement & Concrete sector was launched at COP27 in Sharm el-Sheikh. Details on each of the commitments can be found here.
Although formulating purchase commitments and aggregating demand against these commitments is core to the FMC, the Coalition’s activities go beyond this. Other activities focus on supporting members in delivering on their commitments and creating an enabling environment.
The FMC offers a range of support activities to help members move from verbal to bankable demand commitments.
The FMC activities are prioritized by members and will vary by sector, with options across a range of topics:
• Technology availability: Ensure sufficient supply by 2030 through targeted actions focusing on technology existence, transparency, and scale. This includes organizing Supplier Workshops to connect members with suppliers, and to understand how the FMC can help suppliers overcome key challenges for scale-up
• Execution enablers: Develop the knowledge and/or tools required for successful execution of commitments. This includes hosting best practice sharing sessions, creating templates for offtake agreements, and engagement with financial players to de-risk members’ purchases and/or investments
• Tracking infrastructure: Ensure that each sector has clarity on frameworks to track progress on FMC commitments. Where possible, FMC will leverage existing frameworks –only if these are not applicable, the Coalition will progress conversations to develop new frameworks.
Acknowledging that each sector has different challenges and priorities, the FMC prioritizes the potential into sector-specific workplans based on input from members and partner organizations.Each sector has a quarterly working group to work on prioritized aspects of commitment delivery.
Creating an enabling environment
FMC partners with relevant initiatives and recognizes their actions to create an enabling environment. For more details on our partners, see “Partners” section
Want to learn more? Download the FMC Introduction document here.
The FMC Infrastructure Pillar seeks commitments from companies to make critical investments to enable storage of and access to clean energy. The pillar was launched in October 2022 in Singapore with PSA International as an inaugural partner.
• Ports/Green Corridor: Commitments to invest in bunkering for zero-emissions fuels at key seaports.
• Trucking Depots: Commitments to build critical charging or green hydrogen refueling infrastructure.
• Airports: Commitments to support on-site SAF access at key airports.
Please Contact the FMC Secretariat (FMC@weforum.org) if your organization is interested in joining and making a commitment.