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COP27: Six of the world's largest companies have launched a climate coalition

COP27: Six of the world's largest companies have launched a climate coalition

COP27: Six of the world's largest companies have launched a climate coalition
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By Nishtha Pandey  Nov 9, 2022 11:08:51 PM IST (Updated)

CCITNZ intends to serve as an accelerator for industries across sectors and geographies to innovate and develop breakthrough technologies to help achieve these goals. Founding members include Bechtel, GE, GM, Honeywell, Invenergy, and Johnson Controls, as per a press release by Honeywell.

Bechtel, GE, GM, Honeywell, Invenergy, and Johnson Controls officially launched the Corporate Coalition for Innovation & Technology towards Net Zero (CCITNZ) on Wednesday at the 27th Conference of Parties (COP27) in Sharm el-Sheikh, Egypt.

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The six businesses will partner with governments, international organisations, and others in the industry to help countries meet decarbonisation and climate change goals.
Since its foundation in late 2021, CCITNZ has been active in the background. It intends to serve as an accelerator for industries across sectors and geographies to innovate and develop breakthrough technologies to help achieve these goals.
“CCITNZ provides a forum and network to help to develop solutions that help governments and other customers to reduce emissions and achieve their climate goals,” said Stu Jones, Bechtel’s president of regions and corporate relations.
Roger Martella, GE’s chief sustainability officer, said CCITNZ would play a pivotal role in advancing the technology and innovation needed to reach net zero.
The objectives of CCITNZ
As per the press release, CCITNZ will promote concrete, practical and cost-effective technology solutions to tackle emissions and decarbonisation challenges.
It will also partner with governments and other stakeholders to advance energy security, decarbonization, and sustainable development needs. Will also provide expertise and thought leadership to governments and other stakeholders on technology and innovation as they seek to achieve their decarbonization and climate change goals.
Further, the coalition will work on supporting sound public policies that are consistent with improving environmental effectiveness and fostering innovation.
“This initiative reflects the aim of COP27 to drive meaningful action against sustainability pledges being made around the world and highlights the clear benefit of cross-industry partnership in support of these goals,” said Ben Driggs, President of global high growth regions, Honeywell.
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