Japan to Participate as Strategic Government Partner in First Movers Coalition (FMC)—A Platform Where Global Companies Commit to Purchasing Technologies Needed to Achieve Carbon Neutrality in Order to Start Creating Demand
May 24, 2022
The Japanese government announced on May 24 (Tue.) that it will join the FMC as a strategic government partner. This platform is for major global companies to commit to purchasing the technologies needed to achieve carbon neutrality by 2050, which will start creating a market for said technologies.
The FMC is an initiative launched by the US government at COP26 in collaboration with the World Economic Forum. Its goal, as a platform for major global companies to commit to buying the technologies needed to achieve net zero emissions by 2050, is to start creating a market for said technologies.
The Japanese government announced on May 24 (Tue.) that it would join the FMC as a strategic government partner. Japan is participating as a result of its cooperation in line with the US-Japan Climate Partnership announced in April 2021. The Climate Partnership fact sheet, released after the Japan-US Summit Meeting on May 23, notes that the two countries will cooperate further together through the FMC and elevate the role Japanese companies have in efforts in this area (see Appendix).
US and FMC executives will announce the FMC's strategic government partners (including Japan) at the World Economic Forum's annual meeting in Davos on May 25 (Wed.). This announcement will establish Japan as a founding strategic partner and signify Japan-US strong partnership in this field.
By Japan joining the FMC as a strategic government partner, it can help to start creating demand for the technologies needed for Green Transformation (GX), and it can actively work on the standards needed to promote its supply of needed technologies in areas it has strengths in, such as aerospace and maritime transport (which includes fuel), and concrete.
- Appendix (U.S.-Japan Climate Partnership Fact Sheet and the U.S.-Japan Competitiveness and Resilience [CoRe] Partnership Fact Sheet)(PDF:52KB)
- Reference material (FMC Overview)(PDF:99KB)