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

SSAB invests $74 Million to expand steel production in Alabama

Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more

GGC welcomes new Canadian government and urges farm priorities action

Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more

US Soybean growers disappointed in 2;4-D Anti-Dumping and Countervailing Duties vote

The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more

Ukraine already sown two million hectares of spring grains

As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more

Condobolin rail upgrade fast-tracks NSW grain

GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more

Rio Tinto and AMG assess low-carbon aluminium project in India

Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more

BHP record iron ore and copper production demonstrates resilience

BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more

WTO: Trump’s tariffs will shrink global trade

The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more

$235million syndicated loan agreement to boost UAE trade with Trafigura

In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more

Anglo American update on sale of steelmaking coal business to Peabody

Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more