Sailors SocietyTBA GroupVan AalstViganTelestackPort of Stockton
  • TOC Europe 2023
  • Bühler GmbH
  • Port of Stockton
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Sailors Society
  • Telestack

Trafigura makes further commitment to First Movers Coalition

Trafigura makes further commitment to First Movers Coalition

(Posted on 25/05/22)

Trafigura Group Pte Ltd., a market leader in the global commodities industry, has made a new commitment as a founding member of the First Movers Coalition. Led by the World Economic Forum and the US government, the First Movers Coalition (FMC) targets the heavy industry and long-distance transport sectors responsible for 30 percent of global emissions – a proportion expected to rise to over 50 percent by mid-century without urgent progress on clean technology innovation.

The announcement of a major expansion of the First Movers Coalition was made by US Special Presidential Envoy for Climate John Kerry alongside Bill Gates, founder of Breakthrough Energy, at a press briefing hosted by the World Economic Forum at its Annual Meeting 2022.

The Coalition, launched by US President Biden and the World Economic Forum at COP26, has now expanded to more than 50 corporate members worth about $8.5 trillion and a total of nine leading governments, including the US, covering over 40 percent of global GDP. The FMC also launched two new sectors: carbon dioxide removal and aluminium, which join the existing four sectoral pledges (aviation, shipping, steel, and trucking) launched at COP26 in November 2021.

Trafigura joins Ball Corporation, Ford Motor Company, Novelis and Volvo Group as founding members of the coalition’s new aluminium sector. The companies have committed that 10 percent of total primary aluminium purchased by 2030 will comprise near-zero carbon aluminium, produced using advanced technologies not yet commercially available.

“In making this new commitment we are sending a firm market demand signal for emerging technologies essential for a net-zero transition,” said Jeremy Weir, Trafigura Executive Chairman and CEO.

Trafigura is a major participant in aluminium markets, managing supply chains between producers and customers. The company has supported the decarbonisation of the sector through new technologies and producers’ ongoing efforts to move to renewable energy, including providing a low carbon aluminium financing facility launched in 2020 to secure lower cost financing and pass on the savings to producers to incentivise lower carbon production.

“We believe that near-zero and low-carbon aluminium will be a premium product in the market once the technologies required start to be commercially deployed and we’re delighted to help to accelerate this process,” concluded Jeremy Weir.

As a Founding Member of the FMC, Trafigura is a signatory to commitments to purchase and use zero-carbon shipping fuels by 2030.

Latest News

BHP and Hatch design study for electric smelting furnace pilot

(Posted on 24/03/23)

BHP and global engineering, project management and professional services firm, Hatch, have signed an... Read more


Rio Tinto spends over A$15.3 bn with Australian suppliers

(Posted on 20/03/23)

Rio Tinto increased its spend with Australian suppliers to more than A$15.3 billion in 2022, as part... Read more


Trafigura closes the refinancing and extension of credit facilities

(Posted on 20/03/23)

Trafigura Group Pte Ltd., a market leader in the global commodities industry, has announced the closing... Read more


Nexyst 360 selects Nexxiot to digitalize 5000 grain containers

(Posted on 07/03/23)

Nexyst 360, an innovative grain transportation solution provider, has partnered with Nexxiot to digitalize... Read more


Cargill strengthens executive team

(Posted on 28/02/23)

Cargill has announced the appointments of Joanne Knight as Chief Financial Officer (CFO) and Philippa... Read more


SACE’s Push Strategy to support supplies of commodities to Italy

(Posted on 24/02/23)

Trafigura, a market leader in the global commodities industry, has entered into a USD 500 million five... Read more


Job losses loom as British steel proposes coke ovens closure

(Posted on 22/02/23)

British Steel has announced proposals to close its coke ovens as part of its drive to overcome global... Read more


Rio Tinto and Marubeni to create stronger Aluminium supply chains

(Posted on 20/02/23)

Global miner Rio Tinto and Japanese trader and business conglomerate Marubeni Corporation have agreed... Read more


Trafigura completes acquisition of Ecobat Stolberg multi-metals plant

(Posted on 20/02/23)

Trafigura, a market leader in the global commodities industry, and Ecobat, the global leader in battery... Read more


EUROFER welcomes ITRE report

(Posted on 13/02/23)

Hydrogen is at the core of the green steel transition. Ensuring access to this scarce resource &ndash... Read more


The Wolfson Centre for Bulk Solids Handling Technology Port of South LouisianaCimbriaTOC Europe 2023Bühler GmbH
  • TBA Group
  • Van Aalst
  • Cimbria

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping