DP World to invest around $500M to reduce CO2 emissions
DP World, a Dubai-owned ports giant has expressed intention to invest in clean energy technology.
The investment which is set to be around $500 million is aimed at reducing emissions of carbon dioxide emissions.
As part of the investment, the emissions are projected to be reduced in the company’s operations by 700,000 tons over the next five years.
This was reported by the state news agency WAM on Monday, citing the company’s chairman and CEO Sultan Ahmed Bin Sulayem.
DP World’s plans include transitioning its global fleet from diesel to electric power, investing in renewable energy, and exploring fuel alternatives, said Sulayem via video conference during the COP27 summit in Egypt, WAM added.