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News Article

Ford Joins the First Movers Coalition

By Sofía Garduño | Fri, 05/27/2022 - 13:29

Ford announced that it will boost innovative technologies through its affiliation to the First Movers Coalition. The coalition is conformed of over 50 global companies that aim to commercialize technologies that do not generate carbon emissions. Ford has committed to invest over US$50 billion between 2022 and 2026 for the development of electric vehicles and their batteries. The investment aims to generate new jobs and a more sustainable supply chain.

 

“As part of the First Movers Coalition, we are focusing on the environmental impact of our supply chain by investing in green steel and aluminum. This coalition has the potential to build the future of zero-emission transportation that is good for people, the planet and business,” said Chris Smith, Governmental Affairs Director, Ford.

 

This coalition is directed by the World Economic Forum and the US government. The companies that conform it have a collective market value of approximately US$8.5 billion. The coalition aims to ensure the development of key technologies and power a net-zero future in the upcoming years. The members of this alliance are part of the aluminum, aviation, chemicals, concrete, shipping, steel and trucking sectors which are accountable of 30 percent of global emissions. Ford Motor Company, Volvo Group and Scania are some of the companies from the automotive sector that are part of the coalition.

 

“Transportation needs will increase but these need to be considerably more sustainable. Companies driving sustainable solutions turn out to be winners when it comes to handling a planet in good shape and driving a good financial performance,” said Martin Lundstedt, CEO, Volvo.

 

Currently Ford recycles up to 9 million kg of aluminum each month at some of its facilities and  has recently been recognized as the automotive industry leader for environmental performance in the 2022 Ranking of America’s Most JUST Companies. At its plant in Cuautitlan, Ford has prioritized environmental care and has implemented strict measures regarding the water management. In general, automakers seek to implement sustainable strategies as Mexican regulations require the industry to only use 3 percent of the water available, whereas agriculture can use 60 percent.

 

Moreover, in early May 2022, Ford announced the separation of its electric vehicle (EV) and internal combustion engine (ICE) vehicle businesses as part of its plan to become a leader in the EV market. “At Ford, our goal is to create a positive impact on people and the planet. The future of this company centers on a purpose bigger than building vehicles,” said Mary Wroten, Director, Global Sustainability and ESG, Ford Motor Company.

The data used in this article was sourced from:  
WEF, MBN, Ford
Photo by:   pixabay
Sofía Garduño Sofía Garduño Journalist & Industry Analyst