BANGKOK: Thai chemical agency, PTT World Chemical Pcl on Thursday stated it plans to speculate over $22 billion within the subsequent three a long time to attain web zero carbon emissions by 2050.
“We are going to make investments $5 billion to immediately cut back greenhouse gases and $17 billion in restructuring the enterprise,” chief govt Kongkrapan Intarajang stated at a information convention.
This may embody effectivity enhancements, power storage, and carbon seize know-how, he stated.
New companies in our portfolio shall be low-carbon, like efficiency and speciality chemical compounds, he stated, including the corporate will develop round 4% over the following 5 to 6 years.
In July, it purchased German https://www.reuters.com/article/us-allnex-m-a-pttgc-idUSKBN2EI0L0 coating resins maker Allnex for $4.75 billion, however the fee of carbon emission to progress got here down as a result of it was a low-carbon enterprise.
This 12 months PTTGC, a unit of the state-owned PTT Pcl, launched about 8 million tonnes of greenhouse gasoline (GHG) and CO2 equivalents and can attain a peak of 9.1 million tonnes in 2025.
“There shall be a 20% discount of emissions in 2030 and web zero by 2050,” stated Kongkrapan. – Reuters
