{"id":79542,"date":"2023-09-13T01:00:49","date_gmt":"2023-09-13T01:00:49","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/09\/13\/frances-edf-launches-carbon-capture-and-storage-subsidiary-oklima\/"},"modified":"2023-09-13T01:00:49","modified_gmt":"2023-09-13T01:00:49","slug":"frances-edf-launches-carbon-capture-and-storage-subsidiary-oklima","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/09\/13\/frances-edf-launches-carbon-capture-and-storage-subsidiary-oklima\/","title":{"rendered":"France\u2019s EDF launches carbon capture and storage subsidiary Oklima"},"content":{"rendered":"

France\u2019s EDF launches carbon capture and storage subsidiary:<\/strong> France\u2019s state-owned energy giant EDF has set up a new carbon offset subsidiary Oklima to develop carbon capture and storage (CCS) projects in both France and abroad, Reuters<\/a> reports. One of Oklima\u2019s projects will focus on carbon sequestration \u2014 the process of capturing and storing CO2 by planting trees, rewilding wetlands, or storing carbon underground in rocks, the newswire explains. The subsidiary has over 200 kilotonnes (kt) of carbon projects currently under development. EDF plans to certify the emissions reduced through its CCS projects with France\u2019s low carbon label developed by the Ecological Ministry. The label takes into account both direct and indirect emissions.<\/p>\n

REMEMBER- Not everyone is onboard the CCS train:<\/strong> Some climate experts warn<\/a> that a focus on carbon capture will leave the door open for polluting industries to expand their fossil-fuel production and use by setting targets for CCS instead of fossil-fuel phase out.<\/p>\n

\n

Amazon is buying 250k tons of carbon credits from Occidental\u2019s Texas plant:<\/strong> Amazon is making its first investment in direct air capture technology by committing to purchase 250k tons of removal credits over 10 years, Reuters<\/a> reports. Amazon will purchase the credits from a direct air capture (DAC) plant in Texas owned by 1PointFive<\/a> \u2014 a wholly-owned subsidiary of US oil and gas company Occidental Petroleum. The plant is being developed by Occidental Petroleum\u2019s subsidiary Oxy Low Carbon Ventures. Amazon will use the purchased credits to help meet its net zero carbon emissions by 2040 target. The price of the carbon credits were not disclosed, but developers of DAC technology have said that the cost is currently \u201cin the mid-to-high-triple digits in dollars per metric ton,\u201d according to Reuters. Last month, the US Department of Energy (DOE) announced it is providing over USD 1 bn in federal grants<\/a> for projects in Texas and Louisiana aimed at removing over 2 mn metric tons of carbon emissions annually by scaling up DAC technology.<\/p>\n

Occidental has some plans in our region too:<\/strong> Adnoc partnered with Occidental Petroleum last month<\/a> to explore potential investments in carbon dioxide capture and storage (CCS) hubs in the UAE and US. Under the agreement, Adnoc and Occidental will evaluate the development of direct air capture (DAC) facilities in the UAE \u2014 including what could be the first megaton DAC project outside of the US \u2014 to potentially absorb as much as 1 mn tons of carbon dioxide annually.<\/p>\n

REMEMBER- DAC is the least efficient amongst CCS methods: <\/strong>DAC technology refers to the removal of CO2 directly from the atmosphere at any location, as opposed to carbon capture, which involves absorbing CO2 at the point of emission. Capturing carbon from the air proved to be too energy intensive for it to play a significant role in reaching global climate goals, a future energy scenario modeled by Shell revealed earlier this year<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

France\u2019s EDF launches carbon capture and storage subsidiary: France\u2019s state-owned energy giant EDF has set up a new carbon offset subsidiary Oklima to develop carbon capture and storage (CCS) projects in both France and abroad, Reuters reports. One of Oklima\u2019s projects will focus on carbon sequestration \u2014 the process of capturing and storing CO2 by […]<\/p>\n","protected":false},"author":1,"featured_media":79543,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[1016,70,68,776,11,215,509,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-amazon","tag-around-the-world","tag-carbon-storage","tag-edf","tag-enterpriseclimate","tag-france","tag-occidental","tag-uae","wpautop","entry"],"acf":{"mongo_id":"faf3b5a2-7cd5-462f-b642-e3c6ec3267ae","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1691.jpeg","photo_position":"above","related_issue":[79524],"teaser":"","voice_url":""},"yoast_head":"\nFrance\u2019s EDF launches carbon capture and storage subsidiary Oklima - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/09\/13\/frances-edf-launches-carbon-capture-and-storage-subsidiary-oklima\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"France\u2019s EDF launches carbon capture and storage subsidiary Oklima\" \/>\n<meta property=\"og:description\" content=\"France\u2019s EDF launches carbon capture and storage subsidiary: France\u2019s state-owned energy giant EDF has set up a new carbon offset subsidiary Oklima to develop carbon capture and storage (CCS) projects in both France and abroad, Reuters reports. 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