Company News

U.S Refiner Phillips 66 says it will cut greenhouse gas emissions by 30% from its operations by 2030, amid mounting pressure on the industry to join the fight against climate change and cut carbon emissions by mid-century.Since the 2015 Paris climate accord set a goal to keep global warming to well below 2 degrees Celsius (3.6 F), there has been pressure on refiners to announce ambitious targets and operate more cleanly."We support the ambitions of the Paris Agreement, and Phillips 66 will do its part by improving energy efficiency and developing lower-carbon technologies," Chief Executive Greg Garland said in a statement.The refiner expects to achieve the target through investments in lower-carbon business platforms including renewable fuels, lithium-ion batteries, carbon capture and hydrogen.It plans to reduce so called Scope 3 emissions intensity of its energy products by 15% from 2019 levels.

Goldman Sachs Transaction Banking Services has launched a new ESG (Environmental, Social and Governance) linked demand deposit account, with global water technology company, Xylem, as its anchor client, the two companies announced.The new Goldman Sachs Transaction Banking (TxB) product links the yield clients earn on their deposits to the achievement of their own ESG targets.

Voith was awarded a B- rating for the first time by the independent rating agency ISS ESG and, together with SKF Group and Johnson Controls, is one of the three best companies within the plant and mechanical engineering sector worldwide.

ESC Spectrum announced the release of QAInsight Version 1.1, a subscription-based software that helps utilities and other industrial companies solve the challenges of scheduling, planning and tracking a myriad of activities related to performing QA tests required by state and federal agencies.QAInsight serves as a company’s single source for QA test data, ensuring access to information across different facilities and departments, as well as eliminating mistakes caused by missing or incorrect data resulting from spreadsheets or other error-prone collection and storage methods.With the click of a button, QAInsight users can see an overview of their QA activities (including QA test completion dates, operating data, and recertification event deadlines among many others) color-coded to help them quickly set priorities.The latest release of QAInsight offers new features and enhancements to improve user experience and make it easier to comply with emissions regulations.

Engine No. 1, an investment firm that drives performance through impact, published a white paper detailing its Total Value Framework.

An ambitious project aimed at capturing millions of tons of carbon emissions along the U.S. Gulf Coast in Texas garnered the support of some of the world’s biggest refiners and chemical manufacturers.Dow Inc., Chevron Corp., Phillips 66 and Calpine Corp.

Chevron U.S.A. Inc., through its Chevron New Energies division, and a subsidiary of Enterprise Products Partners L.P. (NYSE: EPD) announced a framework to study and evaluate opportunities for carbon dioxide (CO2) capture, utilization, and storage (CCUS) from their respective business operations in the U.S.

The Port of Corpus Christi Authority (Port of Corpus Christi) and the Texas General Land Office (GLO) will co-develop a carbon dioxide (CO2) storage solution in the Coastal Bend in support of national decarbonization targets.

Wood has secured more than 20 individual CCUS related contracts since the beginning of the year to accelerate decarbonization and emissions reduction activities.Wood anticipates continued growth in this space, with circa USD $500m worth of potential CCUS projects coming to market in the medium term, highlighting the important role this technology will play in delivering a low-carbon energy system.Among the contract wins, Wood is delivering decarbonization solutions for the world’s largest carbon capture and storage project in the United States which will allow the capture and permanent storage of up to 10 million tons of CO2 annually.Wood is also supporting the Front-End Engineering and Design (FEED) for the Acorn project which is set to be one of the first industrial-scale carbon capture projects in the UK.

The U.S. Department of Energy (DOE) announced USD $24 million in funding for nine research projects to explore and develop new methods of capturing and storing carbon from the air.