Sweden’s Vattenfall raises emissions target and hits 2040 . sought net zero target for

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FILE PHOTO: Windmills can be seen on April 27, 2015 at the “Dan Tysch” wind farms of Swedish energy companies Vattenfall and Stadtwerke Munich (public service Munich), west of Germany’s Zilt island in the North Sea. Reuters / Fabian Bimmer / FILE PHOTO

September 20, 2021

nora burik

Oslo (Reuters) – Swedish energy company Vattenfall on Monday raised its 2030 emissions reduction target by phasing out coal and expanding its wind and solar capacity, ten years ahead of its net zero target. He said it was in 2040.

“The climate crisis is a reality and we are responsible not only to step up and act fast, but at batenfall as well,” said Anna Borg, CEO, in a statement. We also see many opportunities to be leaders in this instant change. “The start of the day of the company’s capital markets.

Vattenfall’s previous targets were in line with efforts to limit global warming to 2 °C, but a faster set of targets said they would be in line with the 1.5 °C target.

The company is currently aiming to reduce its business emissions, so-called Scopes 1 and 2, emissions from 38% to more than 77% between 2017 and 2030.

We increased our absolute emissions ambitions from 20% to 33% using products we sold over the same period, known as Scope 3.

Between 2017 and 2020, Vattenfall said it would reduce carbon dioxide (CO2) from 10 million tons in 2020 to about 12 million tons and target less than 6 million tons in 2030. ..

To that end, Wattenfall says it will convert the final coal-powered unit (two German heating facilities) into a combination of biomass, heat pumps, electricity supplies and natural gas.

It will also quadruple the current 3.7 gigawatts of wind and solar operations and increase the charging point by up to 25 times in 2020.

Vattenfall seeks to help control emissions outside its business by supporting a wide range of industrial processes such as the electrification of steel, cement, heavy transportation and chemicals.

“We also promise to achieve net zero by 2040, which means we will achieve net zero emissions across the value chain by 2040,” Borg said.

This includes all CO2 emissions from suppliers and customers. These are eliminated or offset by negative emissions certificates.

(Reporting by Nora Bully, edited by Steve Orlofsky)

Sweden’s Vattenfall raises emissions target and hits 2040 . sought net zero target for

source link Sweden’s Vattenfall raises emissions target and hits 2040 . sought net zero target for

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