To serve as an accelerator for industries across sectors to innovate and develop breakthrough technologies, the Corporate Coalition for Innovation & Technology toward Net Zero (CCITNZ), a cross-sector business alliance, was launched at the ongoing COP27 summit in Sharm El Sheikh, Egypt.

Formed by six global companies, the founding members of this alliance — Bechtel, GE, GM, Honeywell, Invenergy, and Johnson Controls — intend to act on the objectives of CCITNZ, which are innovation and technology, partnership, and energy security, policy, and resource. 

“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, adding, “We have a successful test case here in Egypt. The collective commitment we bring can be a resource, especially to emerging economies.”

CCITNZ has been working behind the scenes since its creation in late 2021 and is dedicated to helping countries meet decarbonization and climate change goals through innovation and technology. 

“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, Honeywell’s president of global high growth regions.

CCITNZ members are already working together to help governments advance their decarbonization journeys by providing construction, technology, and financing expertise, exploring the application of carbon capture and storage, developing carbon reduction opportunities, and bringing clean energy innovations to life. 

“Buildings account for 40% of the world’s greenhouse gas emissions, so it is clear that we have to act now. The good news is that now the technology exists to check climate change while growing economies and bringing prosperity, health, and well-being for all,” said Katie McGinty, Johnson Controls’ vice president and chief sustainability and external relations officer.

Fast Company’s World Changing Ideas comes to the Middle East on 23 November 2022. Click here to know more.