India joins US-led green tech partnership

DAVOS: India has joined the US-led First Movers Coalition, a flagship public-private partnership to clean up the most carbon-intensive industry sectors, from heavy industry to long-distance transport.

The coalition yesterday announced a major expansion to more than 50 corporate members worth $8.5 trillion (about R134 trillion) and nine leading governments, including the US, covering over 40% of global GDP. US Special Presidential Envoy for Climate John Kerry made the announcement alongside Bill Gates, founder of Breakthrough Energy, at a press briefing hosted by the World Economic Forum.

In addition to the US government, the coalition welcomed India, Japan and Sweden to the steering board, as well as Denmark, Italy, Norway, Singapore and the UK