Pemex Details Plan Targeting Drastic Emissions Cut
- Oil company to cut emissions 54% by 2030, mulls carbon credits
- Aim is to bring funding back to Mexico’s debt-burdened firm
Pemex is promising to cut its greenhouse-gas emissions by 54% over the next six years, and is targeting net-zero emissions by 2050.
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Mexico’s state oil company laid out a plan Monday to drastically cut emissions, improve safety standards and invest in new green technologies, but ESG investors say they may need to see results before infusing more capital in the debt-saddled company.
Pemex is promising to cut its greenhouse-gas emissions by 54% over the next six years, and is targeting net-zero emissions by 2050, the executives said in a call to present the company’s sustainability plan.