The Mission Possible Partnership, a new coalition formed to accelerate the decarbonization of global industries representing 30% of global emissions, aims to accelerate several pathways for decarbonizing heavy industry and transport by unifying the critical actors needed to influence and enable industry transformation at speed and scale.
The Partnership, run by the World Economic Forum, Energy Transitions Commission, Rocky Mountain Institute, and We Mean Business Coalition, builds on the success of the Mission Possible Platform, which was launched at the United Nations Secretary General’s Climate Action Summit in 2019, and has grown from 30 companies in 2019 to 400.
The International Energy Agency will be a strategic partner for the Partnership, central to engagement with governments and bringing to bear its expertise on modelling and technology roadmaps.
The Partnership will help more industries mobilize resources, align across a greater number of organizations, 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 emissions.
The Partnership is centered on the idea that, while the Paris Agreement lays the groundwork for global cooperation, 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. This is particularly important for heavy emitting industries.
The Mission Possible Partnership will be the delivery mechanism for Race to Zero Breakthroughs in hard-to-abate sectors. These are specific near-term tipping points for each sector of the global economy in the race to net zero emissions, being launched by COP26 President Alok Sharma and US Special Presidential Envoy for Climate John Kerry as part of the Davos Agenda.
In late 2021, the Partnership will aim to showcase net-zero agreement breakthroughs in shipping, aviation, and steel. Within three years, it plans to help companies to complete climate action agreements in these sectors as well as trucking, chemicals, cement, and aluminum.
Together, these seven sectors comprise 30 percent of global emissions. Within five years, the Partnership aims for clear shifts in investment patterns across the seven sectors and will be pursuing net-zero climate action agreements in additional sectors, including potentially food and agriculture.