BLOG: Leading the Charge: How the First Movers Coalition is Paving the Way for Green Steel
Make the First Move on Green Steel
First place matters! Making a public commitment to procure low-emissions products in the near future sends a clear market signal to steelmakers, encouraging them to accelerate their investments in green steel. It also rewards the first steel buyers by ensuring they are the first to receive cleaner steel.
The First Movers Coalition
Members of the First Movers Coalition have committed to purchase at least 10% near-zero steel by volume by 2030. This commitment can be met through primary and secondary steel, with a sliding scale used to account for the level of CO2 emissions according to the amount of scrap used.
The First Movers Coalition is a global public-private partnership aggregating private-sector demand for clean technologies to spur investment and decarbonize emissions-intensive industrial sectors, including steelmaking. Launched at COP26 in 2021, the coalition includes over 95 companies, including notable automakers like Mercedes-Benz, General Motors, Ford Motor Co., and Volvo Group.
Green Steel Progress in the Automotive Industry
Efforts like those of the First Movers Coalition are essential for spurring demand for lower-emissions steel. They signal to steelmakers that there is a ready and eager audience willing to become early adopters of steel products made with innovative clean energy technologies.
Efforts like the First Movers Coalition are essential to spur demand for lower-emissions steel and signal to steelmakers that an eager audience is ready to become early adopters of steel products made with innovative clean energy technologies.
Ford and GM have joined the First Movers Coalition, promising procurement agreements for low-emissions products. Mercedes-Benz has gone even further — not only buying lower-emissions products but also beginning procurement of near-zero steel products from H2 Green Steel, signing a memorandum of understanding to establish a sustainable steel supply chain in North America.
Conclusion
By committing to procure low-emissions steel, automakers can help catalyze the market shift needed to make green steel the new standard.
Ready to learn more about how to get started in the race to green steel? Contact us at maricela@industriouslabs.org.
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