PERTH (miningweekly.com) – Mining major BHP will invest $6-million into Canada’s Carbon Engineering (CE), as part of its emissions reductions strategy.
“BHP is committed to accelerating the global response to climate change by investing in emerging technologies that have the potential to lead to material reductions in greenhouse gas emissions,” said VP for sustainability and climate change, Fiona Wild.
CE is leading the development of direct air capture, an innovative technology which has the potential to deliver large-scale negative emissions by removing carbon dioxide (CO2) from the atmosphere.
The investment will see BHP obtain a share of the company.
“As the Intergovernmental Panel on Climate Change stated in late 2018, if we are to avoid the worst effects of climate change, technologies that capture and remove CO2 will be required. Direct air capture offers flexibility and potential, and could play a vital role in reducing future global emissions,” said Wild.
“We hope that this investment can accelerate the development and adoption of this technology.”
CE CEO Steve Oldham welcomed BHP’s investment, saying the miner’s global reach and experience in executing complex projects, as well as its strategic commitment to reducing emissions, made it an ideal partner to assist in accelerating the commercialisation and use of CE’s technologies.
“We’re looking forward to working with BHP and our other partners as we progress the development of direct air capture and AIR TO FUELS facilities, and ultimately achieve our goal of delivering affordable, carbon-neutral fuels and significant emissions reductions around the globe,” said Oldham.
Wild said the investment in CE complements BHP’s existing efforts to accelerate the development of carbon capture, utilisation and storage (CCUS) at point sources of CO2 emissions, such as in steelmaking and power generation.
“We have achieved progress in CCUS through partnerships, including with the International CCS Knowledge Centre in Canada and with Peking University. We also support REDD+, the UN programme for reducing atmospheric emissions from deforestation and forest degradation.
“Government support for technologies that capture carbon has been important. However mobilising private capital and supporting market mechanisms to finance technologies that address global emissions will be critical if we are to build a net-zero emissions economy. This investment is a good example of the role that the private sector can play in bringing such technologies to market,” said Wild.