Air Products will spend or commit at least $4bn in additional new capital to support the clean energy transition over the next five years, bringing its total commitment to first-mover projects to $15bn by 2027.
The industrial gas company today (25th July) made the pledge as part of its newly published ‘Third by 30’ carbon dioxide (CO2) emissions intensity goal for Scope 3 emissions, an addition to its existing Scope 1 and 2 goal to reach Net Zero from its operations by 2050.
In order to reach its ambitious targets, Air Products has identified tangible transition plans for new investments and modifications of existing company assets, including low- and zero- carbon hydrogen and carbon capture technologies.
Seifi Ghasemi, Chairman, President and CEO of Air Products, said, “These commitments complement the reinforce our growth strategy of building our business to deliver climate benefits and work alongside our customers on their sustainability journey.”
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