BASF: four billion euros for climate transition
(CercleFinance.com) - German chemicals giant BASF announced on Friday that it plans to invest four billion euros to accelerate its climate transition by 2030.
In a statement issued this morning, the group - which plans to achieve greenhouse gas neutrality by 2050 - said it had already halved its CO2 emissions since 1990.
BASF is now aiming to reduce its greenhouse gas emissions by 60% between 1990 and the year 2030.
To achieve this, the group intends to abandon the use of fossil fuels by developing new production methods, such as electric steam cracking units for the manufacture of ethylene, propylene or butadiene.
In detail, BASF plans to spend around one billion euros by 2025 on its climate change projects, and between two and three billion euros by 2030.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
In a statement issued this morning, the group - which plans to achieve greenhouse gas neutrality by 2050 - said it had already halved its CO2 emissions since 1990.
BASF is now aiming to reduce its greenhouse gas emissions by 60% between 1990 and the year 2030.
To achieve this, the group intends to abandon the use of fossil fuels by developing new production methods, such as electric steam cracking units for the manufacture of ethylene, propylene or butadiene.
In detail, BASF plans to spend around one billion euros by 2025 on its climate change projects, and between two and three billion euros by 2030.
Copyright (c) 2021 CercleFinance.com. All rights reserved.