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January 21, 2021
Anglo-Russian energy and metals giant EN+ Group this week unveiled plans to achieve net-zero emissions across all its operations by mid-century, in a move it has touted as setting a new standard in the energy-intensive aluminum sector.
The group, which focuses largely on hydroelectric power and aluminum smelting, claims the new targets are the most ambitious carbon reduction targets unveiled to date by an aluminum producer.
In addition, the firm said that in order to put it on track for net-zero emissions across all its aluminum smelting and heat and power plants by mid-century, it plans to slash its operational and power emission by 35 percent by the end of this decade.
CO2 value collapse hits trading scheme Governments must act to save the clean development mechanism (CDM), a UN panel has reported. Under the CDM projects such as wind farms and the distribution of efficient cookers and lights, countries earn carbon credits for CO2 emissions avoided. The scheme, created by the UN after Kyoto, has been undermined by the global recession and eurozone crisis so that the credits have fallen in value from $20 (£12.30, €15.50) a tonne in 2008 to $3 today. In addition, over-supply has devalued surplus credits to €1 ($1.30, £0.80) a tonne under another UN scheme permitting credit trading. As a result, many potential projects are not commercially viable and financiers and developers have shied away.