Bezos Earth Fund Backs Efforts to Curb Carbon from Highest-Emitting Sectors
London, Sept. 8, 2021 – The Bezos Earth Fund’s second round of grants announced today includes $7 million for the Mission Possible Partnership (MPP) to develop and implement net-zero plans for some of the world’s most carbon-intensive industries, including steel, concrete, aluminum and chemicals.
Together, these industrial sectors, which also include aviation, shipping and trucking, make up 30 percent of carbon emissions worldwide, and are among the most challenging when it comes to reducing carbon. But these so-called harder-to-abate industries are critical to the global economy, and to the world averting the worst consequences of climate change. MPP is dedicated to accelerating the decarbonization of these industries in the next 10 years.
“We are beyond grateful that the Bezos Earth Fund has recognized the critical role these carbon-intensive industries play in solving the climate crisis,” said Faustine Delasalle, co-executive director of MPP. “This funding will accelerate our work to create blueprints for each of the seven industrial sectors to reach net-zero carbon emissions and mobilize their value chains to achieve that goal.”
In less than two years, MPP has grown from engaging 40 to more than 400 companies to reach zero carbon emissions. “With all eyes on COP26, this funding will enable us to deliver real breakthroughs underpinned by clear workplans, metrics and resources,” said Anthony Hobley, co-executive director of MPP. “The funding announced today will help power these breakthroughs, putting the harder-to-abate sectors on the road to net zero by 2050. This is critically important as these sectors are a crucial piece of the net-zero puzzle.”
Jules Kortenhorst, CEO of RMI, which along with the Energy Transitions Commission, the We Mean Business Coalition, and the World Economic Forum, founded MPP earlier this year, said elevating these large global industries to the same level of attention as nations is essential to avoiding runaway climate change.
“Achieving our goal to stabilize the climate will require actors in all sectors of the economy, across national borders, to make similar commitments and take immediate action. Nations alone will not be able to fix it,” Kortenhorst said. “This grant from the Bezos Earth Fund recognizes that private industry has an essential role to play alongside public institutions.”
Launched in 2020, the Bezos Earth Fund is a $10 billion commitment to fund scientists, activists, NGOs and private-sector entities that are taking critical action to combat the climate crisis, preserve and protect the natural world and support climate justice.
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About the Mission Possible Partnership
MPP brings together the most influential global leaders in industrial decarbonization, finance, policy and business to trigger systems change in some of the world’s most carbon-intensive industries. MPP is led by founding partners RMI, the Energy Transitions Commission, the We Mean Business Coalition and the World Economic Forum and leverages the expertise of more than a dozen partner organizations. More information on MPP can be found at http://missionpossiblepartnership.org or on Twitter @MPPindustry.