MOSCOW (MRC) -- Five chemical companies, including Akzo Nobel, DSM, Evonik Industries, Mitsubishi Chemical Holdings and Solvay have recently launched a plan to reduce emissions by an additional 1.4 gigatonnes (Gt) per year by 2030, said Chemicals-technology.
The companies have decided to work with other partners to develop sustainable solutions, as well as improve their own performances to reduce emission.
They plan to strengthen research and development activities, and market new technologies that reduce carbon emissions.
The initiative is a part of the World Business Council for Sustainable Development's (WBCSD) Low Carbon Technology Partnerships initiative (LCTPi), which mainly seeks to create solutions for reducing carbon footprints.
The WBCSD has partnered with more than 140 businesses and 50 industry partners to speed up the process of developing and deploying new technologies for lowering carbon emissions.
As part of this initiative, all the five firms will work according to the guidelines of LCTPi. WBCSD president and CEO Peter Bakker said: "As an industry of industries, the chemical sector plays an important role in spurring low carbon growth.
"These five global leaders are a vanguard of the chemical industry. Meeting the ambitions they have set across their sector and its value chains can contribute significantly to global emissions reductions in other sectors. "I call on other forward-looking companies to join this initiative and collaborate to bring those actions to life."
As it was writtten earlier, today, 3% of transportation fuels are low-carbon. Within this LCTPi, eleven leading low carbon fuel companies intend to increase their business and the share of low-carbon fuels in transport. According to the International Energy Agency (IEA), 10% of fuels must be low-carbon by 2030 if we are to satisfy economic growth while staying below a 2°C increase of global average temperature. The report presents the current and future status of decarbonising the transportation sector, some country case studies and an overview of the relevant technologies.
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