Alfa Laval joins the First Movers Coalition, another step towards being carbon neutral by 2030

Rhea-AI Summary

On March 15, 2023, Alfa Laval announced its membership in the First Movers Coalition (FMC), a global initiative aimed at supporting the decarbonization of high-emission industries. By joining the FMC, Alfa Laval aims to achieve carbon neutrality by 2030, contributing to the 1.5-degree target set by the Paris Agreement. The FMC focuses on seven sectors, including steel and shipping, which collectively account for 30% of global emissions. As part of this coalition, Alfa Laval will collaborate with over 70 member companies to advance the availability of low-carbon technologies, fostering sustainable practices across industries.

Positive

• Alfa Laval's membership in the First Movers Coalition aligns with its commitment to carbon neutrality by 2030.
• Collaboration with over 70 companies to address emissions in high-impact sectors demonstrates proactive sustainability efforts.

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• None.

LUND, Sweden, March 15, 2023 /PRNewswire/ -- Alfa Laval is now part of the First Movers Coalition (FMC), a global initiative launched by the World Economic Forum. It is a coalition of companies joining purchasing power to support the decarbonization of seven sectors of industry and long-distance transport that produce hard-to-abate CO2 emissions. Alfa Laval's membership is a part of the company's commitment to becoming carbon neutral by 2030.

The First Movers Coalition (FMC) was launched in 2021 by US President Joe Biden, in partnership with the World Economic Forum, at the United Nations' COP26 climate change conference in Glasgow. Alfa Laval will work together with more than 70 other member companies to address roadblocks to securing the supply of required low-carbon technologies by 2030. The coalition addresses several areas: aluminium, aviation, chemicals, concrete, shipping, steel, and trucking, along with innovative carbon removal technologies. These sectors account for 30 percent of global emissions.

Alfa Laval's work with the FMC is connected to steel and the company's commitment to be carbon neutral by 2030. By reducing its own CO2 emissions in Scope 3 (related to the steel the company is using in its products) and throughout the value chain, Alfa Laval contributes to meeting the 1.5-degree target defined in the Paris Agreement.

"This is yet another important step in bringing our sustainability commitment and targets to life. We have several partnerships and collaborations in place already and expect more to come, as we believe that to truly make a difference and support the Paris Agreement we need to partner up across companies and approaches and develop solutions together. Being part of the FMC is one more step in the right direction," says Anna Celsing, Head of Sustainability at Alfa Laval.

About the First Movers Coalition 

The First Movers Coalition is a global initiative harnessing the purchasing power of companies to decarbonize seven hard-to-abate industrial sectors that currently account for 30 percent of global emissions: aluminium, aviation, chemicals, concrete, shipping, steel and trucking, along with innovative carbon removal technologies.

The coalition's members commit in advance to purchasing a proportion of the industrial materials and long-distance transportation they need from suppliers using near-zero or zero-carbon solutions, despite the premium cost.

www.weforum.org/first-movers-coalition

This is Alfa Laval

Alfa Laval is a world leader in heat transfer, centrifugal separation and fluid handling, and is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets.

Alfa Laval has 20,300 employees. Annual sales in 2022 were SEK 52.1 billion (approx. EUR 4.9 billion). The company is listed on Nasdaq Stockholm.

For more information please contact:

Eva Schiller
PR Manager
Alfa Laval
Tel: + 46 46 36 71 01
Mobile: +46 709 38 71 01

Johan Lundin 
Head of Investor Relations 
Alfa Laval  
Tel: +46 46 36 65 10 
Mobile: +46 730 46 30 90

The following files are available for download:

https://mb.cision.com/Main/905/3734267/1916030.pdf

PR_FMC_230315_ENG_F

 

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SOURCE Alfa Laval

FAQ

What is the significance of Alfa Laval joining the First Movers Coalition?

Alfa Laval's membership signifies its commitment to sustainability and carbon neutrality by 2030, collaborating to reduce emissions in key industrial sectors.

Which sectors does the First Movers Coalition focus on?

The First Movers Coalition focuses on aluminium, aviation, chemicals, concrete, shipping, steel, and trucking.

When was the First Movers Coalition launched?

The First Movers Coalition was launched in 2021 at the COP26 climate change conference.

How much did Alfa Laval earn in annual sales in 2022?

Alfa Laval reported annual sales of SEK 52.1 billion (approximately EUR 4.9 billion) in 2022.

What is Alfa Laval's stock symbol?

Alfa Laval's stock symbol is ALFVY.