Microsoft funding new technology for carbon removal

Microsoft agreed to fund a carbon capture technology that uses the natural properties of limestone to take carbon dioxide out of the atmosphere, the startup firm Heirloom Carbon announced. The tech giant will purchase about $200 million worth of carbon credits — equivalent to 315,000 tons of carbon — over 10 years from Heirloom to

ClassNK approves onboard CO2 capture and storage system

ClassNK has issued an Approval in Principle (AiP) for an onboard CO2 capture and storage (OCCS) system developed by China Shipbuilding Power Engineering Institute Co., Ltd. (CSPI), a member of CSSC Power (Group) Co. Ltd. (CPGC).  In addition to fuel transition, interest in capturing CO2 from ships’ exhaust gas is growing as a way to

Cabinet approves funding to boost battery energy storage

The Union Cabinet approved a ₹3,760 crore viability gap fund (VGF)—grants aimed at enhancing the viability of infrastructure projects—for battery energy storage systems (BESS), in a boost for the renewable energy sector that banks on storage when green power generation is low or down. Under the scheme, the government will provide financial support of up

Tata Steel, ABB reach a deal to reduce carbon footprint

As per the MoU, the two companies will focus on system-level assessments of Tata Steel’s manufacturing plants and production facilities to evaluate and co-develop short and long-term options for energy efficiency, decarbonisation, and circularity. The global steel industry contributes between 7 to 9 percent of global fossil fuel CO₂ emissions, according to various sources, including

Steel tubular construction can reduce carbon emissions

In an attempt to make construction an eco-friendlier business, many players in the industry are coming up with various innovations to curtail the effects led by traditional construction approaches. Awareness about sustainability and policies designed to ensure environmental consciousness has led many companies to put these factors at the forefront of their operations. This includes

ADNOC to proceed with Habshan carbon capture project

Abu Dhabi National Oil Company (ADNOC) said it had reached a final investment decision to develop the Habshan carbon capture project. The carbon capture, utilisation and storage (CCUS) project will have the capacity to capture and permanently store 1.5 million metric tons of carbon dioxide a year, ADNOC said in a statement. ADNOC brought forward

UNDP could expand sustainable partnerships

The United Nations Development Programme (UNDP) could expand its sustainable business partnerships that connect private CSR funds with government development needs, said Isabelle Tschan, UNDP’s Deputy Resident Representative in India. Tschan pointed to the Akanksha CSR Facilitation platform, which was set up in collaboration with the government of Karnataka and helps match private funds to

Maersk finalizes ECO delivery deal with Amazon

A.P. Moller – Maersk (Maersk) and Amazon have finalized a 2023-2024 agreement for the transport of 20,000 FFE containers using green biofuel through Maersk’s “ECO Delivery” ocean product offering. Maersk estimates this purchase will contribute to a reduction in 44,600 metric tons of CO2e vs standard bunker fuel, roughly equivalent to 50 million pounds of

It is tough to implement carbon market

An ambition to develop carbon market—the government recently announced a National Steering Committee—is a welcome development. It reflects political and economic maturity to use competition as the preferred option to achieve the desired policy objectives. It is particularly interesting because the tradeable commodity i.e., carbon emission reduction, is a notional construct. It was devised to

Cirkla secures funding for sustainable packaging solutions

Cirkla aims to provide large-scale businesses with sustainable packaging solutions. It utilises a range of raw categories, including moulded fibre, recycled polymers, pulp and paper, and other advanced technologies. The startup has already partnered with multiple global brands in the CPG, food service, and healthcare space, expanding its reach across the US, UK, EU, and