Iron ore giant Fortescue to outlay $6 billion to reach zero emissions by 2030
Australian iron ore producer Fortescue Metals Group (FMG) will spend $6.2 billion by 2030 to eliminate its fossil fuel consumption and reach “real zero” emissions across all its iron ore operations, the company announced on Tuesday.
Read MoreVenture capital for carbon removal tech reaches record level in Q2
Venture capital investment in carbon capture start-ups hit a record high in the second quarter of 2022, reflecting growing interest in carbon removal that is likely to continue given a more conducive policy environment for the technology, especially in the US, researchers have found.
Read MoreUS commits $5 mln to tackle methane emissions in Africa amid global financing dearth
The US will give $5 million to the African Development Bank (AfDB) to help reduce methane emissions on the continent, building on a recent US-EU sponsored initiative to boost funding to rein in output of the potent greenhouse gas in the developing world.
Read MoreDecarbonising steel by 2050 requires input costs to rise by 15-20% -report
The investment needed to decarbonise the steel and iron ore industry by 2050 could reach as high as $1.4 trillion over the next three decades, in order to finance “revolution” across every stage of the value chain, consultants said in a report released Thursday.
Read MoreSouth Korean electronics giant pledges net zero by 2050, research on carbon capture tech, 100% renewables use
Samsung Electronics will target net zero emissions by 2050, spend 7 trillion won ($5 billion) on green and low emission technologies, and has joined RE100, which aims for corporates to reach 100% renewable energy use, the South Korean company announced on Thursday.
Read MoreCOP28 host UAE ups NDC target to 31% cut in BAU emissions by 2030
The United Arab Emirates (UAE), which will host COP28 next year, has updated its NDC to target a cut in business-as-usual (BAU) GHG emissions of 31% by 2030, the petro-state’s ministry of climate change and environment has announced.
Read MoreTen airlines sign SAF supply agreements with renewable fuels outfit in 10-year, $7 bln deal
A California headquartered renewable fuels company has signed a series of supply agreements for Sustainable Aviation Fuels (SAF) with ten airlines for a total value of around $7 billion.
Read MoreThai stock exchange plans to set up carbon credit market, as govt calls export emissions levy “inevitable”
The Thailand Stock Exchange (SET) has plans to introduce a carbon credit market to encourage the adoption of corporate sustainability goals, the president of SET said in an interview that was published on Monday, while a high-level government official called a national emissions levy on exports “inevitable”.
Read MoreShipping needs up to $28 bln in additional annual investment to decarbonise by 2050 -report
The maritime industry will need additional annual investments of $8-28 billion on ships using clean fuels if it is to reach full decarbonisation by 2050, according to a report from Norway-based classification society DNV released this week.
Read MoreAustralian miner South32 sets goal for Scope 3 net zero GHG emissions by 2050
Australian resources company South32 has set a new goal to reach net zero Scope 3 GHG emissions by 2050, the company announced Friday in its annual sustainable development report.
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