Occidental signs first “net zero oil” supply deal with Asian trading house
US oil and gas company Occidental has signed an agreement with a South Korean trading company for the supply of “net zero oil” in a five-year deal that involves the use of direct air capture (DAC) technology to remove CO2 from the atmosphere to abate the lifecycle emissions of the oil sold, the company announced.
Read MoreFEATURE: Facing rising climate costs, ports are crucial for shipping decarbonisation
The global shipping and ports industries face long-term climate impact costs rising up to $25 billion annually in the absence of action to cut emissions, but ports are lagging on mitigation despite the key role they potentially play for the shipping sector to adopt a net zero goal.
Read MoreSingapore, Indonesia ink MoU on climate change, sustainability cooperation
Singapore and Indonesia have signed a memorandum of understanding (MoU) for cooperation on carbon pricing, climate change, and sustainability, Singapore’s National Climate Change Secretariat (NCCS) announced on Monday.
Read MoreCarbon removal startup acquires funds for ocean-based pilot projects, offers carbon credits
A Nova Scotia-based carbon removal startup has raised nearly $8 million to build pilot facilities to deploy its proprietary carbon transition technology, which aims to speed up the earth’s natural process of removing carbon from the air and safely storing it in the ocean, the company announced on Friday.
Read MoreAustralia’s NSW to finance emissions abatement for rural economy
Australia’s most populous state, New South Wales, will invest A$125 million ($92 mln) until 2030 to support farmers and land managers to reduce emissions, improve their access to environmental markets, and accelerate finance for natural capital and low carbon farming, the state government announced Friday.
Read MoreAsian corporates more willing to disclose climate data, but gaps and lack of ambition remain a challenge, survey finds
Asia-Pacific companies need to adapt more far-reaching climate targets and provide better data, a survey has found.
Read MoreClimate Impact X launches platform for companies to navigate VCM
Singapore-based Climate Impact X (CIX) has launched a digital platform for businesses and carbon project suppliers to list, discover, compare, buy, and retire quality carbon credits, the exchange announced on Wednesday.
Read MoreAustralian startup claims major breakthrough in green hydrogen technology cost cuts
An Australian hydrogen technology outfit has developed a more efficient way of producing renewable-based hydrogen with electrolysis that could see the green fuel produced competitively at commercial scale, the company, Hysata, claimed on Wednesday.
Read MoreManchin plays down US Build Back Better bill prospects, seeks hike in fossil fuels
West Virginia Senator Joe Manchin on Friday dismissed the chances of an attempt to revive the stalled $1.8 trillion Build Back Better Act that carried much of the Biden administration’s climate action plans, urging the US to drastically scale up fossil fuel production in response to Russia’s invasion of Ukraine.
Read MoreSmooth operators: Oil and gas firms’ bid to stay relevant in energy transition
The oil and gas industry converged on Houston this week for its flagship CERA Week event in a much-changed environment compared to the last time the conference was held in person in 2019.
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