Global commodities trading company Trafigura announced a new commitment to purchase at least 50,000 tons of carbon dioxide removal credits by the end of 2030, joining an initiative aimed at supporting the development of the CO2 removal market and solutions. The announcement was made during the World Economic Forum’s Annual Meeting in Davos, Switzerland, as part of an initiative from the First Movers Coalition (FMC). FMC was launched at the COP26 climate conference, creating a coalition of companies committed to creating early markets for clean technologies addressing hard-to-abate sectors. By setting major advanced purchase commitments to be met by 2030, the coalition sends strong market signals enabling the scaling and commercialization of clean technologies including near-zero carbon steel, aluminum, shipping, trucking and aviation, as well as advanced carbon dioxide removal solutions.

Source: ESGToday