India joins major tech companies as they announce green tech expansion at World Economic Forum

The World Economic Forum and leaders of some of the world’s largest companies announce an expanding partnership to power green technology.

The First Movers Coalition includes companies that make significant purchases around green technologies and down their supply chains. The idea is to send market signals that lead to more investment and the scaling up of technologies such as green steel, green hydrogen and carbon capture.

On Wednesday, US climate envoy John Kerry was joined by Bill Gates, Salesforce co-CEO Marc Benioff, Google CFO Ruth Porat and several others to announce in Davos that the number of companies had risen from more than 30 to 55.

Sweden, India, Japan, Denmark, the United Kingdom and other countries have also joined the partnership, initially launched by the United States and the World Economic Forum.

Gates says “so many green products have a higher price tag” compared to established fossil fuel technologies and that “the way you get rid of them is to increase production.”

The world’s top climate scientists warn that greenhouse gas emissions must be cut sharply this decade to keep the temperature rise to 1.5 degrees Celsius since pre-industrial times.

Meanwhile, the Andhra Pradesh government signed three memorandums of understanding for green power generation while big-budget business leaders held talks with Chief Minister YS Jagan Mohan Reddy during the World Economic Forum (WEF) summit.

The state government has signed a memorandum of understanding with Aurobindo Reality Infrastructure to generate 6,000 MW of green power. Special Chief Secretary Karikal Valaven signed on behalf of the state while Aurobindo Director Sharatchandra Reddy signed on behalf of the company.

The second memorandum of understanding was signed between the state and Greenko to generate 8,000 MW of green energy. Karikal Valaven and Anil Chalamsetti of Greenko signed the pact.

The third memorandum of understanding was signed with Ace Urban Developers for the establishment of a carbon-free manufacturing unit in Machilipatnam. Karikal Valaven and Anil Chalamsetti were the signatories.


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