11/30/2023 0 Comments Carbon neutral oil![]() Saudi’s Crown Prince Mohammed bin Salman said the country planned to continue to extract hydrocarbons while reducing its own emissions through means such as carbon capture, use and storage technologies (CCUS) and would be creating a “circular carbon economy”. “Greenwashing Joke of the Day, courtesy of number 2 top oil-producing country, which apparently wants to plant 10 billion trees even though it doesn’t have a single river,” tweeted Assaad Razzouk, chief executive of Gurīn Energy. There was very little detail given about how the world’s largest reforestation programme would work in a country with limited water resources. Saudi Arabia announced in March that it would be planting 50 billion trees as part of a plan to achieve net-zero greenhouse gas emissions by 2060. Saudi Arabia has said it plans to plant 40 billion trees in a region that is mainly desert. This year, we have found 11, detailed in the following list of dubious claims and marketing spin. In 2020, Eco-Business counted eight examples of brands called out for making sustainability claims that did not stand up to scrutiny. Six months later, nothing has emerged from the Public Relations & Communications Association of Southeast Asia, and the working group is itself starting to feel a bit greenwash-y. Levels of greenwash got so bad this year that the public relations industry launched a working group in Singapore in July to figure out how to control it. Important gold buying tips: Sovereign Gold Bonds vs Gold ETFs vs jewelry, bars, coins.Greenwashing reached pandemic proportions in 2021 as businesses and governments raced to tell the world how much they care about people and planet, with varying degrees of credibility.Įvery type of brand, from oil-rich governments to canned water manufacturers, tried to jump on the Covid-19-inspired sustainability bandwagon with a blizzard of net-zero, plastic-neutral, palm oil-free or gender-inclusive claims. So many companies said that sustainability is at the heart of everything they do, that they started to sound as if they were reading from the same greenwashing manual.Inflation above its target, but RBI unlikely to change rates.Petrol sales gather steam, diesel still under water.Accenture to train 2.5L of its staff in AI.Reliance Retail to buy UK-based Superdry's South Asian licences.Oil prices dive sharply as US data shows weak demand for gasoline.No GST cut seen on cement, Li-ion cells.Political stability crucial to become 3rd largest economy: Finance minister Nirmala Sitharaman."We are taking important initial steps to work with our customers in hard-to-decarbonize industries to offer carbon-neutral and other low-carbon products that will leverage our expertise in carbon management to lower their total carbon impact and address Scope 3 emissions," said Richard Jackson, president of OLCV. ![]() Occidental, the first US-based international energy company to announce an ambition to achieve net-zero GHG emissions associated with the use of its products by 2050, has been using carbon-dioxide in its enhanced oil recovery operations in the Permian for over 40 years. It is also a step in the furtherance of Occidental's net-zero ambitions and commitment to addressing climate change today. This type of transaction, which involves the bundling of high-quality carbon offsets with crude oil, is an immediate executable solution that helps promote investments in longer-term, industrial-scale decarbonisation strategies. "The volume of offsets applied against the cargo are sufficient to cover the expected GHG emissions from the entire crude lifecycle including oil extraction, transport, storage, shipping, refining, subsequent use, and combustion," it said. The offsets were sourced from a variety of projects verified under the Verra Verified Carbon Standard meeting eligibility criteria for the UN's International Civil Aviation Organization's Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). "Macquarie arranged and structured the bundled offset supply and retirement," it said. OLCV said the oil was produced in the US Permian Basin by Occidental and delivered to Reliance in India. This will be done by embracing new technologies to convert its carbon dioxide emissions into useful products and chemicals. Ambani had in July last year unveiled plans to turn Reliance into a net carbon zero company by 2035. It is also a bridge to the development of a further differentiated petroleum product, net-zero oil, which Occidental intends to eventually produce through the capture and sequestration of atmospheric CO2 via industrial-scale direct air capture (DAC) facilities and geological sequestration.
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