Axios House at the 2024 World Economic Forum: Turning Corporate Sustainability Claims into Reality
Innovators in climate tech and data gathering discussed the state of play for corporate sustainability goals and technology's role in forming their outcomes at Axios House in Davos, Switzerland for the 2024 World Economic Forum.
- Why it matters: Sustainability has been a prominent issue at WEF over the years. Climate and government leaders are gathering this week at the forum to discuss a long term strategy for climate goals.
What they're saying: Dr. Jan Wurzbacher, co-founder and co-CEO of Climeworks discussed how their direct air capture (DAC) technology is partnering with companies like JP Morgan and BCG to help them meet net zero emissions goals.
- "Typically companies [that] have set themselves very ambitious carbon removal targets and net zero targets, have figured out [that] they cannot address all their emissions by mitigation."
Meanwhile, critics have voiced their skepticism about DAC technology and its effectiveness. However, Wurzbacher says it "was a good debate 20 years ago" but that it's now too late.
- "2023 is the hottest year ever at a global average temperature– 1.48 degree…[a] razor sharp gap between the 1.5 degree goal and where we are today. So there's just no time."
Separately, Microsoft's VP & chief data scientist of the AI for Good Lab, Juan Lavista Ferres, shared how "inequities" in data, "like the existence of data, the quality of the data, access to data," can make it challenging to implement AI to help combat issues like climate change.
In a View From the Top sponsored segment, United States Steel Corporation's head of sustainability Erika Chan spoke to how sustainable steel is important for the global economy but remains "incredibly difficult" to create.
- She praised their "ecosystem of collaborators" that partners with them to create new sustainable opportunities across their value chain.
- She also shared how the U.S. Steel Corporation has a product line of non-grain oriented steel that will help increase the efficiency in cars.
Thank you to the United States Steel Corporation for sponsoring this event.