Air Products today (July 25) announced it will spend or commit $4bn for the transition to clean energy over the next five years for new investments or modifications to existing assets including low and zero carbon hydrogen.
The company has said it is creating a new “Third by ‘30” carbon dioxide emissions intensity goal under Scope 3 emissions, adding to its Scope 1 and 22 goals to reach Net Zero in its operations by 2050, which it says will bring its total commitment to first mover projects to $15bn through 2027.
To meet its ambitious targets, the gas major says it has identified tangible transition plans for new investments and modifications to existing assets, including low and zero carbon hydrogen and carbon capture technologies.
Additionally, Air Products will continually increase the use of renewable energy, convert its fleet of around 2,000 trucks to hydrogen fuel cell vehicles, and implement additional actions.
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