US firms to boost CO2 emissions in next decade by 20%
Posted On July 24, 2021
As the US emissions crisis deepens, some of the world’s biggest companies are poised to push for more CO2-reducing efforts, with the aim of helping the country meet its international emissions targets.
As the United States has already pledged to cut its emissions by 40 percent below 2005 levels by 2025, many major companies are investing heavily in new technologies that can help the country cut its greenhouse gas emissions by 20 percent or more, while other countries are looking to their own emissions to reduce their carbon footprint.
Among them is General Electric Co (GE), which said on Tuesday that it would build a new CO2 compressor for use by the Army and Marine Corps, and would install a new air compressor for the Navy.GE already has a pilot plant in Texas that will convert natural gas to electricity, and is in the process of setting up another pilot plant that will pump CO2 into tanks to help the military reduce its CO2 footprint.
It has also launched a new research and development center focused on the technologies, according to the company’s website.GE also said that it was investing in a carbon capture and storage (CCS) facility that will capture and store excess CO2 from coal-fired power plants and power plants that are using coal as their primary fuel.
The US Navy and Marine Corp have also announced new CCS projects that aim to capture CO2 and store it for future use.GE’s announcement comes as the US has already committed to reduce its emissions 20 percent below its 2005 levels.
In 2016, the US also announced it would reduce its carbon emissions by 30 percent by 2025 from 2005 levels, and aims to cut it by 50 percent by 2030.
At the same time, many companies are already building or investing in new emissions-cutting technologies, and others are also planning to make cuts in CO2 production and production.
The Paris climate agreement has also helped companies such as GE and Walmart make major cuts in their CO2 output and production in the US.