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Clean fuel tech startup Amogy announced that it raised $56 million in venture financing for solutions aimed at decarbonizing transportation, heavy industry and other sectors. In earlier demonstrations, the company successfully used its technology to power an aerial drone, commercial farm tractor, and semi-truck.
When you think of a logistics leader like DP World, you probably imagine shipping containers and cranes not classrooms and scholarships. In Suriname, the company partnered with COSCO Shipping Lines to renovate the media library at OS Lobatoschool near the Jules Sedney Terminal in Paramaribo.
Moller – Maersk and Amazon announced today an agreement for ocean shipping utilizing low to very low GHG emissions biofuels in place of fossil fuels. Moller – Maersk, said: “Amazon’s record of securing sustainable shipping over the years, no matter the business climate, is testament to its contributions to building a better future.
The company is emerging as a leader in accelerating industrial decarbonization through its innovative, industrial-scale carbon capture solutions, ready for immediate implementation. This modularity ensures efficient integration and optimization, empowering industries to meet their decarbonization goals with flexibility and precision.
Transportation decarbonization-focused clean fuel tech startup Amogy announced that it has raised $139 million, with proceeds aimed at funding the commercialization of its emissions-free ammonia-to-power technology. We want to make sure Amogy has the resources it needs to make zero-emission shipping a reality.”
Originally published in FedEx's 2024 Global Economic Impact Report Delivering a more sustainable future FedEx works hard every day to make global supply chains smarter for everyone by leveraging advanced technologies to help optimize logistics. In 2023 and early 2024, FedEx Freight in the U.S.
Global food and beverage company Nestlé announced today a series of agreements enabling the company to shift the equivalent of half of its global shipping needs to alternative, lower-emission fuels, effective immediately. Under the deal signed with Maersk, Nestlé will use Maersk’s ECO Delivery solution for 100% of ocean containers shipped.
The new report indicates that the speed with which clean technologies and decarbonization of the power sector are scaled up is crucial. The power, transport, industry and buildings sectors transition at different speeds based on the technologies available for them to decarbonize, but all see emissions start to fall immediately.
The shipping industry accounts for approximately 3% of global greenhouse gas emissions, and is facing increasing pressure to address its climate footprint, as companies look to decarbonize their supply chains, and regulators and governments introduce rules to reduce the sector’s emissions.
Deutsche Bank announced an update to its Long-Term Incentive plan for Management Board members, the most senior executives in the company, with a portion of compensation for the group linked for the first time to the decarbonization of the bank’s corporate loan portfolio, beginning in 2024.
After refueling in Rotterdam, AIDAprima will test the new biofuel during regular ship operations on upcoming voyages from Hamburg through the fjords of Norway. AIDA Cruises has been investing toward a sustainable future for cruising for many years as part of its decarbonization strategy.
A global challenge, a regional response As the world celebrates World Ocean Day 2024, Indonesia takes center stage for its pioneering efforts towards sustainable shipping. Indonesia's leadership in this area positions it as a key player in fostering a more sustainable future for global shipping.
It also includes an intermediate CO 2 storage and ship loading system at Oslo harbor, from where the CO 2 will be transported to the Northern Lights permanent storage facility on the Norwegian continental shelf. In 2024, the company produced 1.9 Find out more at slb.com. TWh of district heating.
We continue to implement important initiatives that have kept us ahead of our ambitious goals to reduce emissions, and this new shore power capability will allow our ships to rely on the electrical grid to power our ships while in port.”
Prime Minister Gabriel Attal has agreed to stay on temporarily through the Paris Olympics, and this steadying of the ship will offer organisers of the Games hope that at least the delivery of their programme will run smoothly. But the Olympics and Paralympics taking place this year face another hurdle: the climate crisis.
It will now require these shared commitments from its suppliers, according to the press release about the program: A shift to intermodal shipping to reduce the industry’s reliance on air freight, aiming for an interim emissions reduction of 15 percent by 2024.
“Utilizing waste heat from natural gas engine and LNG cold energy to meet heat-electric-cold demands of carbon capture and storage for shipdecarbonization: Design, optimization and 4E analysis.” Zhu, Y., & Jing, H. ” Journal of Cleaner Production, 446, 141359.
Logistics giant DHL and International Airlines Group’s (IAG) cargo handling business IAG Cargo announced today an expanded agreement, with IAG Cargo to use an additional 60 million liters of sustainable aviation fuel on behalf of DHL Express and DHL Global Forwarding to cover 2024 and 2025 emissions.
The bank also revealed that it reached nearly $1 billion in annual sustainable finance income in 2024. For low decarbonization maturity clients, Standard Chartered will initially focus on reporting of operational emissions and setting short-and long-term emissions reduction targets.
Port operations are notoriously carbon-intensive; the transportation sector creates one-third of the world’s total greenhouse gas emissions, of which shipping accounts for nearly 3%. On April 4, 2024, we unveiled the first charging station for electric trucks at our terminal on the South Dock of the Port of Callao in Peru.
The TJSC campus in Tianjin, China, has signed a purchase agreement with a local utility supplier to provide 100 percent renewable electricity for its manufacturing and distribution area starting in January 2024.
Through Generative AI, LISSA offers visibility into the estimated carbon emissions associated with various Lenovo sustainabilty solutions such as TruScale Device as a Service (DaaS), Asset Recovery , packaging efficiencies , lower-carbon shipping options , lifecycle extensions , certified refurbishment , and more.
SWORDS, Ireland, January 17, 2024 /3BL/ - Trane Technologies (NYSE:TT), a global climate innovator, has been named to Corporate Knights’ 2024 Global 100 , recognized as the leader in the Building Products industry and ranking 23 rd overall.
This week in ESG news: IFRS releases global sustainability and climate reporting standards; Australia to introduce mandatory climate disclosure beginning 2024; AstraZeneca announces $400 million reforestation and biodiversity investment; IBM survey finds surge in CEOs with pay tied to ESG goals; UK environment minister quits over government’s climate (..)
Metals technology company Boston Metals announced today that it has raised $262 million at the close of its Series C fundraising, with proceeds from the financing to be used to accelerate its platform enabling decarbonized steelmaking. The company announced the first close of the funding round in January at $120 million.
The company also said that it achieved a reduction its upstream oil and gas exposure by more than 50% on a 2019 basis in Q2 2024, ahead of its goal to do so by 2025, and that it has significantly withdrawn from the thermal coal sector, with exposure at less than 0.1% of its financing portfolio.
As a corporate professional focused on ESG, nature and decarbonization services, as well as the blue economy, I looked forward to gathering first-hand information that would help drive and contextualize this work. The Northern Sea Route is the shortest shipping route between the western part of Eurasia and the Asia-Pacific region.
The initiative, which will distribute hydrogen through 12 large refueling stations, is slated for completion in 2024. . Accelerating decarbonization through partnerships with companies like Hysetco is key to Cummins’ Destination Zero strategy,” said Piet Berens, Cummins’ Managing Director – Electrolyzers. “We About Cummins Inc.
billion, citing emerging long-term opportunities in areas including decarbonization, energy security, digital infrastructure, and supply chain transitions. GIP has described decarbonization as central to its investment thesis.
The publication includes new targets for emissions reductions from financing carbon-intensive sectors including coal mining, cement and shipping, as well as new goals for emissions reporting from supply chain vendors and for energy consumption reductions in the bank’s own operations.
Those guidelines are due to be released in 2024. Now, it’s being taken up by a multilateral panel that is expected to report in 2024 if all goes well. But she added it’s “disappointing to only mention drafting a plan to end public domestic fossil fuel finance by the end of 2024, rather than taking concrete steps now.”
As heavy industry and transport sectors race to decarbonize, low-carbon hydrogen emerges as a promising zero-emission fuel, offering an alternative to battery electric vehicles for heavy transport while powering hard-to-abate industries from steel manufacturing to chemical production.
We will also continue to support the banking and investment needs of our clients who are engaged in energy transition and in decarbonizing different sectors of the economy. JPMorgan joined the NZBA in October 2021 , shortly after the launch of the alliance. The targets remain in place on the companys website.
POSORJA, Ecuador, August 20, 2024 /3BL/ - DP World , a global leader in logistics and supply chain solutions, celebrates five years of operations at the Port of Posorja in Ecuador this month. The company's decarbonization strategy has prevented the generation of more than 45,000 tons of CO2 through various projects. -
According to Equinor CEO Anders Opedal, the agreement marks a “major milestone for the development of carbon capture, transport and storage,” viewed as a key tool for the decarbonization of heavy industries. From early 2025 we will be shipping the first tonnes of CO2 from the Netherlands to Norway. million tonnes of CO2 per year.
For every billion dollars in exports shipped through U.S. Understanding the environmental impact of seaports When compared to aviation and trucking, ocean shipping remains the most environmentally efficient means of cargo transportation. We hope to pilot carbon capture in 2024 and then determine how to roll it out to our fleet.”
While the company continues to win industry awards, sales growth has slowed, and the firm notes that its plans to raise more growth capital may not be possible before 2024. And according to Victoria-based Audette Analytics, the sector “is far behind on the road to decarbonization.” Carbon Engineering Growth Rate: 584% Squamish, B.C.–based
Questions as to environmental sustainability are raised by the processes involved in the cutting of trees, processing of the wood into pellets and (in the cases of large biomass generators) shipping such pellets across oceans to supply generating infrastructure. In addition, efforts are being made to decarbonize this electricity source.
Although prevailing wisdom holds that time is running out, BloombergNEF’s New Energy Outlook 2024 seemingly shows how the world could still achieve the major goal of the Paris Agreement – holding global warming to well below 2°C and avoiding the worst impacts of climate change – and what it would take to get there.
In May of 2024, scientists published a discovery that just might lead to one of the first opportunities for interspecies communication. Consider a cargo ship: there is a 50 percent emissions difference per ton of cargo shipping on the cleanest versus the dirtiest vessels.
Recent Net-Zero Industry Tracker data shows progress in decarbonizing some of the high-emitting industrial sectors that are critical to our economies, but theres still a long way to go. High-energy compression, liquefaction, or infrastructure requirements for pipelines or shipping can offset some of the environmental benefits.
Companies restoring Texan forests and government plans for decarbonizingshipping are among this week’s net zero Signals of Change. million square meters of office space will shift to zero-emissions electricity by 2024, and the rest will be completed over the following two years. Two thirds of Brookfield’s 6.5
By Spring 2024, 87% of Patagonias products by weight were made with other materials such as organic and regenerative organic cotton, recycled polyester and recycled nylon. In early 2024, SAC rebranded as Cascale , now boasting 300 members including Amazon, Carhartt, H&M and Nike.
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