The World Economic Forum (WEF) begins its annual meeting this Monday in the Swiss town of Davos. This year, the event—considered the largest political and business summit on the planet—will be “historic,” according to its organizers.
The main reason lies in the important group of dignitaries, business leaders and representatives of civil society who will meet there until Friday. Its president, Børge Brende, also mentions that this annual event will take place against the backdrop of a moment “marked by geopolitical tensions, economic fragmentation and acceleration of climate change“.
For Spain, this edition of the “select” meeting takes on special relevance. And the big energy companies in our country are coming to it this year. In today’s session he highlighted the role of Moeve (formerly Cepsa)a leader in the energy sector that was born in our country more than 90 years ago, has announced that it is joining the First Movers Coalition (FMC), an initiative led by the WEF and John Kerry, former special envoy of the United States for Climate.
Moeve thus becomes one of the the first companies in its sector worldwide and the first in its sector in Spain in joining the global alliance. With this, it is committed to accelerating the development and deployment of innovative low-carbon technologies, key to achieving net zero emissions by 2050.
The agreement, signed by Maarten Wetselaar, CEO of Moeve, has taken place during the opening of the sessions in Davos with Brende. The rubric involves publicly highlighting the company’s “Positive Motion” transformation strategy for 2030.
This plan establishes ambitious objectives, such as reduce scope 1 and 2 emissions by 55% by 2030 and guarantee that more than 60% of its investments are allocated to sustainable activities with the objective that these generate more than half of its EBITDA. Moeve has also committed to 5% of its maritime fleet using zero-emission fuels by 2030.
“Being part of the First Movers Coalition is another step on our path to lead the production of green molecules in Europe in this decade. We want to offer the energy solutions necessary to decarbonize polluting sectors,” declared Wetselaar.
“We are delighted to join this initiative that is an emblem of global collaboration, so necessary to accelerate the energy transition around the world and achieve a future with net zero emissions,” added the CEO. Specifically, the company is committed to the development of renewable hydrogen, second generation biofuels and the deployment of an ultra-fast electric charging network in Spain and Portugal.
The First Movers Coalition (FMC) was launched at COP26 and brings together more than 100 companies that represent a collective effort to decarbonize high-emitting industrial sectors, such as aviation, shipping and steel. According to the president and CEO of the Davos Forum, “Moeve joins as the 102nd member and the third company from Spain to do so. Its commitment in the maritime transport sector and its leadership in emerging technologies such as green hydrogen and sustainable fuels will be keys to the mission of the FMC”.
After almost a century operating as Cepsa, Moeve presented its new identity in October 2024 to consolidate its focus on the production of sustainable energy. With more than 11,000 employees, the company continues its work as a key driver of the wave of energy transition in Europe.