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Daily Shorts: Denmark to earmark $4B for CCS, Cargill tests wind powered ships

Image Source: Cargill

Denmark will earmark around $4 billion in aid to carbon capture storage (CCS) projects, the country's climate ministry announced. The grants will be disbursed over 15 years, but eligible projects must become operational by 2029. Denmark is looking to become Net Zero by 2045 and is betting on carbon capture to reach the target. The Nordic nation expects to reduce annual CO2 emissions by at least 3.2 million tons this way by 2030. Since July, oil companies Exxon and Oxy have purchased CCU companies to gain access to the technology.

US commodities powerhouse Cargill has launched a dry bulk ship fitted with special sails on its first voyage, in another of the maritime industry's trials to move goods cleanly. The company has retrofitted Pyxis Ocean with 'WindWings' or large sails attached to the deck, essentially mimicking a sailboat on a larger scale, aiming to generate fuel savings of 30 percent. The vessel will sail from Singapore and head to Brazil, from where it will likely head for Denmark. Shipping accounts for nearly three percent of global CO2 emissions.

Indonesia's Pertamina Geothermal Energy (PGE) has signed initial agreements with two Kenyan companies to jointly explore geothermal projects. The agreements together could be worth as much as $2.2 billion. PGE says one of the agreements will focus on developing Kenya's Longonot concession, which has about 140 MW of geothermal power on tap and could be scaled up to 500 MW. Analysts estimate the 140 MW phase of the project will begin commercial operation in 2025.

Delta Airlines has been taken to court over advertising that bills the carrier as "the world's first carbon-neutral airline." The lawsuit, filed in California, says such claims would make consumers believe the company offsets 100 percent of its CO2 emissions, but the carbon offset market is "replete" with inaccuracies, making Delta's claims false. Delta, which began claiming carbon neutrality in March 2020, says it has moved away from offsets and focuses on decarbonization through other strategies such as sustainable aviation fuel.

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