Kalinga TV reported that Tata Steel has joined a new initiative. The Mission Possible Partnership, a new coalition formed to accelerate the decarbonisation of global industries representing 30% of global emissions, was launched at World Economic Forum in Davos. Run by the Energy Transitions Commission, Rocky Mountain Institute, the We Mean Business coalition and the World Economic Forum, the Mission Possible Partnership aims to accelerate several pathways for decarbonising heavy industry and transport by unifying the critical actors needed to influence and enable industry transformation at speed and scale.
The partnership builds on the success of the Mission Possible Platform, which launched at the United Nations Secretary General’s Climate Action Summit in 2019, and has grown from 30 companies in 2019 to 400, who all are committed to working on concrete actions towards net-zero. The partnership will help more industries mobilise resources, align across a greater number of organisations, and accelerate the race to zero. This initiative will help carbon-intensive sectors reach their targets and bring in the systemic change needed to succeed by providing a clear path to net zero.
The MPP is centred on the idea that the Paris Agreement, with its focus on national targets, will not generate the plans and solutions necessary to achieve efficient and effective transition strategies for global industries on its own. The most important missing piece of the global climate action architecture is an effort by sectors, complementing country-centric strategies with action from global industries to unlock technology and energy transformation.
In late 2021, the partnership will aim to showcase net-zero agreement breakthroughs in shipping, aviation, trucking, chemical and steel sectors. Within three years, it hopes to help companies complete climate action agreements for these seven sectors covering 30 per cent of global emissions.