Company News

Outokumpu signed a new deal on three cargo vessels with Langh Ship to reduce CO2 emissions in transports. Outokumpu has agreed with its long-term transport partner, Finnish shipping company Langh Ship to replace the current three cargo vessels with new ships.

The United Arab Emirates has announced the UAE Net Zero by 2050 Strategic Initiative, a national drive to achieve net-zero emissions by 2050, making the UAE the first Middle East and North Africa (MENA) nation to do so.The initiative, announced at Expo 2020 Dubai with the attendance of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, aims to underpin dynamic economic growth alongside positive environmental impact.Commenting on the announcement, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, said, "We are committed to seize the opportunity to cement our leadership on climate change within our region and take this key economic opportunity to drive development, growth and new jobs as we pivot our economy and nation to net zero.

Chevron Corporation (CVX) issued an updated climate change resilience report that further details the company’s ambition to advance our lower-carbon future.

Pembina Pipeline Corporation (TSX: PPL) (NYSE: PBA) is pleased to announce its commitment to reduce the company's greenhouse gas ("GHG") emissions intensity by 30 percent by 2030, relative to baseline 2019 emissions.

Shell Ventures and BlueAlp Holding announced a new partnership to develop and deploy plastic waste to chemical feedstock technology.

S&P Global Platts announced that it will launch the first ever daily carbon offset premiums alongside monthly carbon intensity calculations for 14 major crude fields around the world.

Eni and the International Renewable Energy Agency (IRENA) have entered a three-year partnership agreement to collaborate in the promotion of renewable energy and accelerate the energy transition, particularly in countries that export fossil fuels.

Ahead of COP26 talks in November, the United States. and the European Union announced a commitment to cut their methane emissions 30% by the end of the decade, and are rallying other governments to join them.

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.