President Joe Biden on Tuesday plans to unveil a “First Movers Coalition” that involves pledges around clean energy from Apple Inc. and other big companies, according to senior Biden administration officials.
The group is intended to help build private-sector demand for clean-energy technology and thereby speed innovation in that area, the officials told reporters.
It’s expected to have more than 25 founding members, including Apple AAPL, -0.56%, other key technology players and other large companies from a range of industries.
Together the members have hundreds of billions of dollars in purchasing power, and they will make “demand commitments” related to clean energy ICLN, +2.06% and innovation, the officials said.
Tuesday marks Biden’s second day in Glasgow, the Scottish city where the U.N. is holding its major climate-change summit, the Conference of Parties, or COP26.
His administration is to make a raft of announcements at the event. In a speech on Monday, the president offered U.S. financial help, which will need Congressional backing, for the developing nations that risk being crushed under the effects of climate change.