Trafigura Announces Carbon Removal Commitment as Part of the First Movers Coalition

Source: www.gulfoilandgas.com 1/16/2023, Location: Europe

Trafigura Group Ptd Ltd. (“Trafigura” or “the Group”), a market leader in the global commodities industry, has today made a public carbon dioxide removal commitment as a founding member of the First Movers Coalition (FMC). In addition to Trafigura’s direct emissions reduction efforts, the Group has committed to purchase at least 50,000 tons of durable and scalable net carbon dioxide removal credits by the end of 2030 generated through advanced carbon dioxide removal technologies1.

Led by the World Economic Forum and the US government, the FMC targets the heavy industry and long-distance transport sectors responsible for 30 percent of global emissions - a proportion expected to rise to over 50 percent by mid-century without urgent progress on clean technology innovation.

The World Economic Forum has partnered with the US Special Presidential Envoy for Climate John Kerry and 69 global businesses to invest in innovative green technologies. These financing commitments will ensure new technologies are available for scale-up by 2030 and make a critical contribution to achieving net-zero emissions by 2050.

Since it was launched at COP26, the FMC has brought together global companies with supply chains across carbon-intensive sectors. Trafigura, as a Founding Member of the FMC is already a signatory to the FMC shipping and aluminium sector commitments.

“In making our third commitment to the First Movers Coalition and its aims, we are pleased to join other leading companies in sending a firm market demand signal for important technologies and fuels that are essential to achieving a low-carbon future,” said Jeremy Weir, Trafigura’s Executive Chairman and Chief Executive Officer. “I’m looking forward to continuing to engage in the coalition and to fulfilling Trafigura’s shipping, aluminium and carbon dioxide removals commitments.”

Trafigura’s commitment, in line with the FMC guidelines and other companies making this commitment, is subject to the availability of technology supply that enables companies to meet their 2030 purchase pledges.


France >>  11/14/2024 - Technip Energies and Shell Catalysts & Technologies have agreed to strengthen their relationship and will be moving towards global exclusivity for the...
Singapore >>  11/14/2024 - IFC’s projects delivered significant impact across Asia Pacific in the last fiscal year, addressing pressing development challenges including climate ...

Austria >>  11/13/2024 - • The Ministry of Climate Protection awarded model companies for their commitment
Matters of energy efficiency and climate protection.
• The...

Canada >>  11/13/2024 - SaskPower’s Carbon Capture and Storage (CCS) facility at Boundary Dam Power Station Unit 3 in Estevan continues its strong performance as the facility...

Finland >>  11/13/2024 - In 2021, Metso launched its Planet Positive approach as a concrete answer to tackling the sustainability challenges of its customer industries. Ever s...
Finland >>  11/13/2024 - Outokumpu’s stainless steel helps to build a more sustainable infrastructure with up to 75% lower carbon footprint compared to the global industry ave...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.