Tata Steel and technology firm ABB have signed a Memorandum of Understanding (MoU) to co-develop technology to reduce carbon emissions in steel production. Tata Steel is a global steel company with an annual crude steel capacity of 35 million tons per annum. The company aims to reduce carbon emissions to less than two tons of…
Under its carbon management strategy, ADNOC announces its final investment decision (FID) to develop largest carbon capture projects in the Middle East and North Africa region. The company is an energy group which plans projects to make energy cleaner and invest in clean energy for sustainability. The company claims the project will be apt to…
The UK Space Agency is funding earth monitoring programmes to accelerate the UK EO (Earth Observation) technology. The funding of £15 million, by the UK Space Agency, will facilitate the research and experimental development of space-based instruments. The aim is to support a range of environmental services. These include – The funding will allow UK…
Magna submits the net-zero emissions targets for validation by the Science Based Targets Initiative (SBTi). It is the commonly accepted decarbonization target as per the Paris Climate Agreement.Magna plans to achieve its near-term Scope 1, 2 and 3 targets by 2030. Also, it targets to fulfill net-zero emissions by 2050. Swamy Kotagiri, Magna CEO, said,“Magna…
Occidental announced to enter into a definitive purchase agreement with Carbon Engineering.Occidental will acquire all the outstanding equity of Carbon Engineering Ltd. for a total cash consideration of approximately $1.1 billion. The said is to be delivered in three approximately equivalent annual payments. The transaction will close before the end of 2023.The transaction is subject…
Amazon allocated $15 million in nature-based projects in the APAC region. The funds are a part of the $100 million Right Now Climate Fund by Amazon.The company established the funds in 2019 to increase climate resilience and biodiversity. It also tries to bring social benefits to the communities where the company functions. Kara Hurst, Global…
Dioxycle announced its Series A funding round of $17 million, co-led by Lowercarbon Capital and Breakthrough Energy Ventures Europe (BEV-E). Gigascale Capital participated in the funding. The company is a French-American start-up. It transforms CO2 emissions into high-value and sustainable chemicals. Dioxycle claims to develop a tech that produces sustainable ethylene from recycled carbon emissions….
Advanced Ionics has closed a Series A funding round at $12.5 million. This round was led by bp ventures, with additional investors including Clean Energy Ventures, Mitsubishi Heavy Industries, and GVP Climate. The company plans to avail the funds to grow and accelerate the first deployment of its Symbion™ water vapor electrolyzer technology. It is…
AXA XL, a UK-based insurance and risk management company, launched an excess emissions insurance product for marine clients. The product will help clients manage their environmental footprint to reinforce action on carbon emissions. AXA XL’s in-house carbon team, in partnership with ClimateSeed, has designed the excess emissions insurance product. ClimateSeed provides carbon removal and avoidance…