- On the first day of the annual meeting in Davos, Moeve CEO Maarten Wetselaar signed the membership alongside World Economic Forum President and CEO Børge Brende
- Moeve is one of the first companies of its sector globally, and the first of its sector in Spain, to join the prestigious global initiative
- The Company has committed to generating more than half of its EBITDA from sustainable activities by 2030 as part of its Positive Motion transformation strategy
The FMC, launched during COP26, focuses on heavy-emitting sectors such as aviation, shipping, trucking, and steel, where breakthrough technologies like green gases and fuels are essential for decarbonization. The Coalition is the world’s largest, private sector, clean demand signal for emerging climate technologies. It aims to foster demand and supply for zero-emission solutions in these sectors by 2030, helping establish competitive, net-zero supply chains.
As part of its membership, Moeve, formerly known as Cepsa, has signed a commitment in the shipping-sector, pledging that by 2030, at least 5% of its deep-sea shipping fleet will be powered by zero-emission fuels. This bold move is in line with the Company’s Positive Motion strategy to lead the energy transition by providing green molecules (green hydrogen and second-generation biofuels) to sectors such as shipping and aviation. Over the course of this decade, it will reduce Scope 1 and 2 CO2 emissions by 55% and the carbon intensity index of energy products sold by 15-20% versus 2019, with the goal of achieving net zero emissions by 2050.
As part of its strategy, more than 60% of Moeve’s investments will be dedicated to sustainable activities with the objective of generating more than half of its EBITDA from sustainable activities this decade.
Maarten Wetselaar, CEO of Moeve, said: “Joining the First Movers Coalition is further recognition of our irrevocable commitment to rapidly transform into a leading provider of green molecules this decade and deliver the critical energy solutions needed to decarbonize heavy-emitting sectors. The First Movers Coalition is emblematic of the global collaboration needed to reach a net zero future and we are delighted to join this important initiative to accelerate the energy transition worldwide.”
Børge Brende, President and CEO of the World Economic Forum, said: “Moeve makes a strong addition to FMC as its 102nd member and third member company in Spain. Along with its commitment in the shipping sector that will serve to strengthen FMC’s demand signal for zero-emission shipping solutions, Moeve brings significant knowledge and experience from its leadership in the energy transition and in scaling the emerging solutions like green hydrogen and sustainable fuels that will be critical to FMC’s mission to decarbonize the heavy-emitting industrial sectors.”
