In this file:
· Cargill Steps Up Push to Cut Carbon Emissions from Shipping Fleet
· Big Oil Makes Big Bet on Soybeans as the Answer for Cleaner Energy
Cargill Steps Up Push to Cut Carbon Emissions from Shipping Fleet
By Jonathan Saul, MarineLink
April 30, 2021
Cargill, one of the world's biggest charterers of ships, has cut nearly 1.5 million tonnes of gross carbon emissions from its fleet since 2017, a top company executive said, as it steps up efforts to go green.
With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions.
The United Nations aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050. This target will require the swift development of zero or low emission fuels and new designs for ships.
Cargill achieved an overall reduction of 5% in CO2 emissions per cargo tonne-mile by 2020 against a 2016 baseline, the U.S. agribusiness giant said.
When broken down into specific ship segments...
Big Oil Makes Big Bet on Soybeans as the Answer for Cleaner Energy
By Tyne Morgan, AgWeb
April 30, 2021
In a venture to produce cleaner energy, big oil is turning to soybean oil. In April, Phillips 66 announced it is securing feedstock for the company's growing portfolio of renewable fuels projects by investing in a new soybean-processing plant in Iowa. Phillips 66 isn’t alone — Love’s also made a similar announcement with Cargill.
“There’s a huge difference between what we typically know is biodiesel versus renewable diesel,” says Peter Meyer of S&P Global Platts. “You have states on the West Coast, and other states throughout the heart of the country, looking at low carbon fuel sources. In other words, they are going to give better fuel credits for renewable biodiesel that is made with certain feedstocks.”
The feedstocks of choice are fats, tallows and greases, Meyer adds. However, the U.S. doesn’t produce enough of those sources to meet the growing need.
“We only produce maybe 12 billion pounds of those combined on a yearly basis in the U.S., he explains. “But now, all of a sudden, we see all these oil companies getting into deals. Love's has a deal with Cargill on fats and tallows. We just saw Valero come out with Darling, who's the largest renderer in the country. However, they came out and said there's no more used cooking oil left for renewable diesel.”
As Phillips 66...