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Japan’s Tosoh starts producing CO2-derived isocyanate

  • Market: Emissions, Petrochemicals
  • 14/11/24

Japanese petrochemical producer Tosoh has started the production of isocyanates by using captured carbon dioxide (CO2) at its Nanyo plant in Yamaguchi prefecture, in line with its decarbonization efforts.

Tosoh's new facility, which can capture 40,000 t/yr of CO2 and generate unspecified volumes of carbon monoxide (CO), started operations this month, a company spokesperson told Argus on 14 November, after the completion of its construction at end-October.

Before converting CO2 into CO, the firm will capture CO2 from the conventional facility that uses naphtha to manufacture CO — a feedstock used to manufacture isocyanate goods such as methylene bisphenyl isocyanate (MDI) and hexamethylene diisocyanate (HDI). Isocyanates are used to manufacture polyurethane.

Tosoh's reliance on the new feedstock will curb its existing use of petroleum feedstock naphtha. But the firm declined to disclose how much naphtha usage it has reduced.

Tosoh produces 400,000 t/yr of MDI and 43,000 t/yr of HDI at the Nanyo plant.

Tosoh has set a goal to achieve a 30pc reduction in greenhouse gas emissions (GHG) by the April 2030-March 2031 fiscal year against 8.33mn t of CO2 equivalent (CO2e) in 2018-19, before becoming carbon neutral by 2050-51.

It targets to curb 3pc of its GHG emissions by 2030-31 through the conversion of CO2 into petrochemical feedstock.


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18/11/24

Cop: Germany, UK, Canada co-operate on climate finance

Cop: Germany, UK, Canada co-operate on climate finance

Berlin, 18 November (Argus) — Germany, the UK, Canada and multilateral entity Climate Investment Funds (CIF) will provide around $1.3bn of climate finance for developing low-carbon production processes and green lead markets in developing and emerging countries, they announced today. The support aims to contribute to a "level playing field" for new climate-friendly, "green" markets, and drive forward a "successful global and fair transition to climate neutrality", Germany's federal ministry of economic affairs and climate action said. The contribution also "sends a strong signal to the international community and generates momentum towards [the next UN climate summit] Cop 30 in Brazil", German economy and climate minister Robert Habeck said. The German government has pledged around $220mn and the UK around $211mn, while over $900mn is to come from the CIF, with private-sector contributions leveraging the commitment, the ministry stressed. Canada will contribute unspecified "additional" funds. Further pledges from governments, civil organisations and private-sector investments will be "mobilised" over the next months, Habeck said. CIF was established in 2008 to finance pilot projects in developing countries at the request of the G8 and G20. The upcoming presidencies of the G7, G20 and Cop 30 aim to focus more strongly on climate finance, Habeck added. The Germany-founded Climate Club will support the implementation of the pledge, Habeck said. The club, which Germany views as the "central international forum for decarbonisation issues", held its second leaders' meeting last week, one year after its official launch at Cop 28 in Dubai. The club's global matchmaking platform, one of its key services, was also launched last week. The German government is pushing for a stronger role for "green guarantees", a type of blended finance, which could limit the pressure on public finances but mobilise private funds, as the financing risk would be to an extent guaranteed by the governments of developed countries. Germany's policy makers have repeatedly stressed the importance of private capital for climate finance, given the limited availability of public funds. The Green Guarantee Group, which was launched at Cop 28 and had its first "high-level political exchange" in Berlin last month, is to develop "concrete recommendations" before Cop 30 on how to "adjust the levers of the international financial system" so that funds flow to where they are most effective, according to Germany's economy ministry. Germany sees itself as a leading provider of climate finance, and said it contributed €9.9bn last year, of which €5.7bn came from the federal budget. Habeck at a side event at Cop 29 today also reiterated his call for an extra levy on oil and gas companies, which could be ploughed into funds directed at supporting climate action in developing countries. By Chloe Jardine Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Cop: Progress on actions to cut emissions uncertain


18/11/24
News
18/11/24

Cop: Progress on actions to cut emissions uncertain

Baku, 18 November (Argus) — Progress on mitigation — actions to cut greenhouse gas emissions — is uncertain at the UN Cop 29 climate summit, as talks on a specific text related to the issue are at risk to be pushed back to 2025, losing any progress made in the past year. Some countries had proposed using the mitigation work programme — a work stream focused on reducing emissions — to progress the commitment made at Cop 28 in 2023 to "transition away" from fossil fuels. But talks have stalled and could end without a conclusion at the summit. Developed countries as well as developing nations including some small island states and countries in Latin America — such as Brazil, Colombia, Peru, Mexico — have expressed disappointment about how mitigation talks were going. New Zealand called on countries to follow up on last year's decision on mitigation at Cop 28 and Norway added that these issues deserved "more than silence on mitigation". Switzerland complained that mitigation was "held up by a select few", and said that the discussion was critical for increased commitments for next year's 2035 Nationally Determined Contributions (NDCs). NDCs are countries' climate plans that include emissions reduction targets. Cop parties are due to submit new versions by February 2025. The US also said that Cop 29 needed to "reaffirm the historical Global Stocktake decision" taken last year. And developed nations, led by the EU, called for the discussion to continue this week — the second week of Cop 29. But countries including Bolivia, Iran and Saudi Arabia, for the Arab Group, pushed back on this. The mitigation work programme is "not… open to reinterpretation", Saudi Arabia's representative said today. The country said earlier that it did not want new targets to be imposed, complaining about the "top-down approach" taken by developed countries. India reminded developed countries that they have yet to deliver on their new finance commitment — a crucial step for more ambitious NDCs in developing nations. But "Cop 29 cannot and will not be silent on mitigation", the summit's president, Mukhtar Babayev said today. "On mitigation we have been clear that we must make progress, "he said, adding that he has asked ministers from Norway and South Africa to consult on what an outcome on mitigation could look like. EU climate commissioner Wopke Hoekstra today said that it is "imperative that we send a strong signal this week for the next round of NDCs", he said. Points related to mitigation — including transitioning away from fossil fuels and phasing out inefficient fossil fuels subsidies — are currently mentioned in the draft text for the new finance goal, known as the new collective quantified goal (NCQG). It is the key issue at Cop 29. Developed countries agreed to deliver $100bn/yr in climate finance to developing nations over 2020-25, and Cop parties must decide on the next stage — including the amount. Developed countries are likely push for the fossil fuel language to stay in the finance goal text, especially if mitigation talks stall elsewhere. But countries such as Saudi Arabia have long opposed this, while developed countries have received some criticism for still not having given an amount for the new finance target. By Georgia Gratton, Prethika Nair and Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Cop: G20 momentum key to Cop climate finance outcome


18/11/24
News
18/11/24

Cop: G20 momentum key to Cop climate finance outcome

Baku, 18 November (Argus) — The outcome of the G20 leaders' summit in Brazil taking place on Monday and Tuesday on climate financing will be key to the success of the UN Cop 29 climate conference in Baku, Azerbaijan, summit president Mukhtar Babayev said today. "We cannot succeed without [the G20], and the world is waiting to hear from them," Babayev said. The leaders' summit takes place at the beginning of the second week of the Cop 29 conference. Progress at Cop 29 last week towards agreeing a new climate finance target for developing countries — the so-called NCQG — was not sufficient, Babayev said. He is concerned that parties are not moving towards each other fast enough. Little progress was made in the first week on three main areas of disagreement: the amount of climate finance which should be provided, how it should be structured, and which countries should contribute. Babayev urged G20 leaders, including US president Joe Biden who will be present in Brazil, to send a "positive signal of commitment to solving the climate crisis," and deliver clear mandates for Cop 29. The talks in Baku move from the technical to the political phase this week. Ministers typically have more authority to move red lines. But parties should focus on wrapping up less contentious issues early in the week so as to leave time for major political decisions, according to Simon Stiell, executive secretary of UN climate body the UNFCCC. Babayev expects talks on the amount of climate financing which will be on the table to continue until the last day of the summit at the end of this week, he said. The Cop presidency has invited former and upcoming Cop hosts the UK and Brazil to advise and "ensure an ambitious and balanced package of negotiated outcomes." Both countries have in the past week communicated more ambitious emissions reduction targets, which have been broadly welcomed. The EU today called for the Cop presidency to step up its role in the process. "We do need a presidency to lead, to steer us in the direction of a safe landing ground," European commissioner for climate action Wopke Hoekstra said. Hoekstra declined to be drawn on the amount of climate financing that the EU would like to see. Developing countries have pushed for a high goal of $1.3 trillion/yr, well above the previous target of $100bn/yr. The EU today reiterated instead its desire for the base of contributor countries to be enlarged beyond the current roster of countries defined as developed under the UNFCCC, and for as much private finance to be mobilised as possible to add to public finance. By Rhys Talbot Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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G20 takes climate spotlight as Cop 29 stalls


18/11/24
News
18/11/24

G20 takes climate spotlight as Cop 29 stalls

Rio de Janeiro, 18 November (Argus) — A top UN climate official is urging G20 leaders to step up the pace of developing new climate finance goals, as talks on the topic have stalled at the UN Cop 29 climate talks in Baku, Azerbaijan. "Climate finance progress outside of our process is equally crucial, and the G20's role is mission-critical," said UN climate body chief Simon Stiell in a letter to the G20 leaders, who start two days of meetings today in Rio de Janeiro. "[The summit] must send crystal-clear global signals." Leaders at the G20 summit have already promised to discuss terms of a fair energy transition, as Brazil — which is holding the group's presidency this year — picked the topic as one of its three goals, along with combating hunger, poverty and inequality and the reform of global governance. The leaders will present a joint statement on the energy transition on Tuesday and on the other two goals on Monday. Brazilian president Luiz Inacio Lula da Silva and UN secretary general Antonio Guterres already met over the weekend at the end of the G20 Social, a Brazilian initiative parallel to the G20 meetings that seeks to "broaden the dialogue between countries and society" to discuss climate and environmental crises. Lula and Guterres discussed the need for a "coordinated international response to mitigate the effects of climate change, promote adaptation and protect the most vulnerable populations," according to a statement from the Brazilian environmental ministry. They also agreed that increasing international financing for climate action in developing countries is "urgent." The leaders discussed the increase in global climate ambitions through new Nationally Determined Contributions, aligned with the 1.5°C target of the Paris Agreement and in line with the scientific recommendations of the Intergovernmental Panel on Climate Change. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Neste to supply renewable chemical feedstock to PCS


18/11/24
News
18/11/24

Neste to supply renewable chemical feedstock to PCS

London, 18 November (Argus) — Finland's Neste will supply Singapore-based chemicals company PCS with renewable material feedstock for production of plastics. The Neste RE material will be supplied to PCS for use at a site on Jurong Island, Singapore. Neste RE is based on waste products including used cooking oil (UCO) or waste residues from vegetable oil processing. PCS produces ethylene, propylene and butadiene for consumers across Asia-Pacific. The first deliveries from PCS will include butadiene, the company said. Initial buyers include Mitsubishi, Toray Plastics in Malaysia and Synthomer. Neste previously said beverage maker Suntory will produce PET bottles derived from bio-paraxylene converted from bio-naphtha by the Finnish refiner. By George Barsted Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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