ArcelorMittal launches “transformational” low-carbon steelmaking project in Canada
Steelmaking giant ArcelorMittal has announced the launch of a key decarbonisation project in a groundbreaking ceremony at a steel plant in Ontario, Canada, with investment of C$1.8 billion ($1.3 bln) expected to reduce GHG emissions from the site’s operations by up to 3 million tonnes per year by 2030.
Read MoreThailand, Singapore target bilateral carbon market agreement
Singapore and Thailand will work towards developing an agreement for bilateral cooperation on carbon credit trading under Article 6 guidelines to be finalised next year, the Singaporean ministry of trade and industry has announced.
Read MoreMore companies making net zero claims but still unwilling to detail specifics on how to achieve Paris-aligned goals, survey finds
Corporates are increasingly making net zero commitments but their pledges are not being matched by the development and implementation of credible decarbonisation strategies that demonstrate to investors detailed efforts to align with the goals of the Paris Agreement, a survey of 159 companies by a climate investor action group has found.
Read MoreUS major ExxonMobil teams up with industrial player for 2 Mt/year CCS project
ExxonMobil has entered into an agreement with a US hydrogen and nitrogen manufacturer to capture and store up to 2 million tonnes per year of CO2 generated from an industrial facility in Louisiana, the US oil and gas major announced.
Read MoreInvestment of $37 bln to retire Indonesia’s coal fleet by 2040 more cost-effective than prolonging subsidies for fossil fuel power -report
Indonesia would be able to exit coal-fired power by 2040 with investments of $37 billion, but this cost compares favourably over the long term with recent annual subsidies to coal plants amounting to $10 bln annually and the high cost of deploying CCUS, according to research released on Thursday.
Read MoreAirCarbon Exchange, C-Quest join forces to launch first carbon credit auction for LED lighting projects
Singapore-based voluntary carbon trading platform Air Carbon Exchange (ACX) and US-based offset developer C-Quest Capital (CQC) have teamed up to launch what will be the first-ever auction for carbon credits generated from LED light bulb projects, the two companies jointly announced on Wednesday.
Read MoreIndian companies form carbon market association to help shape emerging policy landscape
A group of stakeholders have launched an Indian carbon market association to help shape the development of domestic emissions trading and contribute to boosting the nations’ market capabilities.
Read MoreInvestment fund raises €2 bln from over 50 investors for clean hydrogen projects
A Europe-based investment platform joint venture has closed a fund after raising €2 billion ($1.94 bln) in what it described as the world’s first and largest pureplay clean hydrogen infrastructure fund to focus exclusively on the entire clean hydrogen supply chain.
Read MoreCement giant Cemex aims for SBTi validation of climate strategy to align with 1.5C scenario
Cemex, the world’s fifth-largest cement manufacturer, has been working with the Science-Based Targets initiative (SBTi) to validate its 2030 climate targets and its 2050 net zero emissions roadmap to align with a 1.5C pathway, the Mexican-headquartered construction materials company announced.
Read MoreMaritime, energy players combine to develop “onboard” carbon capture tech to reduce shipping emissions
A consortium of players in the energy and shipping industries launched a project this week to explore the viability of carbon capture on vessels, reflecting a push to explore the utilisation of the technology to reduce emissions from shipping, a sector which is heavily dependent on fossil fuels but faces increasing pressure to decarbonise its operations.
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