(Source: Shutterstock.com)
Japanese airline carrier All Nippon Airways (ANA) signed a purchase agreement for more than 30,000 tonnes of CO2 removal credits from U.S. carbon capture and storage (CCS) company 1PointFive.
The agreement runs for a three-year period beginning in 2025, ANA announced in a Aug. 2 press release.
1PointFive, a subsidiary of Occidental Petroleum, uses Carbon Engineering Ltd.’s direct air capture (DAC) technology to capture and remove large volumes of carbon CO2 directly from the atmosphere. The CO2 captured for ANA will be sequestered in saline reservoirs that are not used for oil and gas production.
"We are proud that 1PointFive is able to support a leading airline like ANA in their purchase of our high-quality carbon removal credits to advance their climate strategy," said Michael Avery, president of 1PointFive, in the press release. “The aviation industry can uniquely benefit from DAC as a pathway to removing carbon emissions securely, practically and on a large-scale."
ANA’s contract with 1PointFive is in line with the company’s goal to cut greenhouse gas emissions and reach carbon neutrality by 2050. In 2019, ANA emitted more than 12 million tons of CO2 and is now the first airline in the world to purchase CO2 removal credits from 1PointFive.
In addition, ANA has begun introducing sustainable aviation fuel made from plants and waste oil into its operations.
Recommended Reading
Shell Adds Two Members to Executive Committee
2025-01-23 - Shell has named Andrew Smith and Machteld de Haan as members of its executive committee, effective April. 1.
Liberty Energy Appoints Arjun Murti to Board
2025-01-23 - Arjun Murti has over 30 years of experience as an equity research advisor.
Venture Global LNG Pares IPO Hopes by 15% to $2.2B
2025-01-22 - LNG exporter Venture Global nearly halved the price per share, while increasing the number of shares it expects to offer.
USD Partners Expects to Sell Final Asset by Mid-April
2025-01-22 - USD Partners was obligated to sell the Hardisty terminal after entering a forbearance agreement with its lenders in June 2024.
Berry Announces Jeff Magids as New CFO
2025-01-21 - Jeff Magids was appointed as Berry Corp.’s new CFO on Jan. 21 in replacement of Mike Helm, effective immediately.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.