Van AalstCimbriaGeneva DryTMS Awards 2023ViganTelestack
  • Geneva Dry
  • Port of South Louisiana
  • TBA Group
  • Van Aalst
  • Bühler GmbH
  • Sailors Society

Trafigura makes carbon removal commitment as part of First Movers Coalition

Trafigura makes carbon removal commitment as part of First Movers Coalition

(Posted on 16/01/23)

Trafigura Group Ptd Ltd., a market leader in the global commodities industry, has made a public carbon dioxide removal commitment as a founding member of the First Movers Coalition (FMC). In addition to Trafigura’s direct emissions reduction efforts, the Group has committed to purchase at least 50,000 tons of durable and scalable net carbon dioxide removal credits by the end of 2030 generated through advanced carbon dioxide removal technologies1.

Led by the World Economic Forum and the US government, the FMC targets the heavy industry and long-distance transport sectors responsible for 30 percent of global emissions - a proportion expected to rise to over 50 percent by mid-century without urgent progress on clean technology innovation.

The World Economic Forum has partnered with the US Special Presidential Envoy for Climate John Kerry and 69 global businesses to invest in innovative green technologies. These financing commitments will ensure new technologies are available for scale-up by 2030 and make a critical contribution to achieving net-zero emissions by 2050.

Since it was launched at COP26, the FMC has brought together global companies with supply chains across carbon-intensive sectors. Trafigura, as a Founding Member of the FMC is already a signatory to the FMC shipping and aluminium sector commitments.

“In making our third commitment to the First Movers Coalition and its aims, we are pleased to join other leading companies in sending a firm market demand signal for important technologies and fuels that are essential to achieving a low-carbon future,” said Jeremy Weir, Trafigura’s Executive Chairman and Chief Executive Officer. “I’m looking forward to continuing to engage in the coalition and to fulfilling Trafigura’s shipping, aluminium and carbon dioxide removals commitments.”

Trafigura’s commitment, in line with the FMC guidelines and other companies making this commitment, is subject to the availability of technology supply that enables companies to meet their 2030 purchase pledges.

1Further details about the First Movers Coalition’s carbon removal commitment here.

Latest News

ADM offers segregated, traceable soybean meal to European customers

(Posted on 12/07/24)

ADM, a global leader in innovative solutions from nature, has announced that it is offering fully verified... Read more


Rio Tinto to install carbon free aluminium smelting cells

(Posted on 04/07/24)

Rio Tinto will install carbon free aluminium smelting cells at its Arvida smelter in Québec,... Read more


Moonbound appoints ASL for long-term South African lithium logistics project

(Posted on 28/06/24)

Moonbound Mining Ltd. has appointed Adhira Shipping and Logistics (ASL) as its logistics contractor... Read more


ADM and Bayer collaboration help farmers achieve lower carbon emissions

(Posted on 19/06/24)

 ADM and Bayer have announced an extension of their collaboration, working with farmers in a bid... Read more


US House appropriations bill includes reinstatement of NASS reports

(Posted on 14/06/24)

A House appropriations subcommittee in the USA has approved its Fiscal Year 2025 bill that includes... Read more


Rio Tinto to acquire Mitsubishi’s stake in Boyne aluminium smelter

(Posted on 14/06/24)

Rio Tinto has agreed to acquire Mitsubishi Corporation’s 11.65% interest in Boyne Smelters Ltd... Read more


Richards Bay Minerals’ renewable energy agreement

(Posted on 07/06/24)

Richards Bay Minerals (RBM) has signed a renewable power purchase agreement (PPA) with Khangela Emoyeni... Read more


Trafigura half year result show core business strength

(Posted on 07/06/24)

Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released its 2024 Half... Read more


New Zealand aluminium smelter’s future secured with power deals

(Posted on 01/06/24)

New Zealand Aluminium Smelters (NZAS) has signed 20-year electricity arrangements that secure the future... Read more


NGFA statement on farm bill advanced by House Ag Committee

(Posted on 31/05/24)

The House Agriculture Committee in the USA have advanced a farm bill that includes several important... Read more


Port of South LouisianaPort of StocktonBühler GmbHTBA GroupSailors Society
  • TMS Awards 2023
  • Cimbria
  • Telestack

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping