Italian company Saipem has won a major contract from Eni to help build a new carbon capture and storage (CCS) project off the coast of northern England. The contract is worth about €520 million ($590 million) and is part of the HyNet industrial cluster. It is a major effort to cut emissions in one of the UK’s most carbon-heavy regions and support the country’s net-zero goal.

The Liverpool Bay CCS project will capture carbon dioxide (CO2) from industries across North West England and North Wales. The captured CO2 will then be transported through a network of pipelines and stored deep underground in old gas fields under the Irish Sea. These fields, such as Hamilton, Hamilton North, and Lennox, are owned by Eni.

The project is possible to complete in about three years and will play an important role in helping the UK meet its net-zero emissions goals. It could also create over 1,000 local jobs during the construction period, giving the economy a boost.

What Saipem Will Build: Connecting the Carbon Dots

As part of the project, Saipem will be responsible for the engineering, procurement, construction, and commissioning support of a new CO2 compression station at Point of Ayr in North Wales.

This new facility will replace an old gas processing plant. Instead of handling natural gas, the new station will compress CO2 and send it to storage sites offshore. It will connect with both the project’s onshore and offshore parts, ensuring that the captured carbon can be transported safely and permanently stored underground.

In addition to the new compression station, other work includes:

• Retrofitting existing offshore platforms to handle CO2 instead of natural gas
• Repurposing 149 kilometers (about 93 miles) of existing pipelines
• Building 35 kilometers (about 22 miles) of new pipelines to link factories and other carbon sources to the network

These efforts will ensure that CO2 captured from factories, power plants, and other industrial sites can be securely stored and kept out of the atmosphere.

Zeroing In on the UK’s Net Zero Goals

The UK government has made carbon capture and storage a key part of its plan to fight climate change. It will spend £22 billion over 25 years on carbon capture and storage (CCS) to help reach its net-zero goal by 2050.

CCS captures carbon from heavy industries and stores it underground. But rising costs mean only 3 of the 8 planned projects will go ahead. These include the East Coast Cluster, led by BP and Equinor, and HyNet in western England and Wales.

• Together, they aim to remove about 3 million tons of CO₂ per year—much less than the 20 to 30 million tons first planned.

Critics say this could keep the UK tied to natural gas for years and slow down the shift to clean energy like wind and solar. The National Audit Office warns about delays, rising costs, and past CCS failures. CCS could help reduce industrial emissions. However, experts say more investment in renewables and energy efficiency is needed for a truly green future.

• READ MORE: UK’s £22 Billion Carbon Capture and Storage Plan: A Bold Step or A Fossil Fuel Trap?

The government approved the HyNet project in October 2024.

Companies, like Heidelberg Materials, which makes cement, are ready to send their CO2 for storage. Other partners include Viridor, Ineos, Fulcrum Bioenergy, and Progressive Energy.

The Liverpool Bay CCS project aims to cut emissions from tough-to-clean industries, such as cement manufacturing and waste-to-energy plants. The project captures and stores CO2. This helps stop millions of tons of greenhouse gases from entering the atmosphere each year.

Eni recently got funding from the UK’s Department for Energy Security and Net Zero (DESNZ). This support lets them proceed with construction.

In addition, Eni has received three carbon storage licenses from the North Sea Transition Authority (NSTA). These licenses cover the development of a storage system capable of holding 109 million tons of CO2 over the next 25 years.

This project is a major piece of the UK’s broader effort to reach net-zero emissions by 2050.

Saipem’s Growing CCS Business

For Saipem, the Liverpool Bay contract is another big win in the growing field of carbon capture and storage. The company reported a total backlog of €32.7 billion ($37.2 billion) at the end of March 2025, with CCS projects playing an increasing role.

Saipem said that the Liverpool Bay project shows how energy companies can reuse existing oil and gas infrastructure to support the energy transition. By converting old pipelines and platforms to handle CO2, the industry can cut costs and speed up the move toward cleaner energy.

In addition to the Liverpool Bay project, Eni is working on another CCS initiative in the Bacton Thames area in the southern North Sea. This project, called the Bacton Thames Net-Zero Initiative, aims to capture CO2 from industries around Bacton and the Thames Estuary. It could even accept CO2 from factories in the European Union, expanding its impact beyond the UK.

• RELATED: Shell, Equinor, and TotalEnergies Expand Northern Lights CCS with $714 Million Investment

Turning the Tide in Liverpool Bay

The Liverpool Bay CCS project shows how old fossil fuel infrastructure can be given a new life in the clean energy era. Pipelines and platforms will now help fight climate change. They will safely store carbon underground instead of producing and transporting natural gas.

Construction on the new compression station at Point of Ayr and upgrades to the wider pipeline network will ramp up soon. If things go as planned, the Liverpool Bay CCS system may start capturing and storing CO2 by the end of the decade. This could significantly boost the UK’s climate efforts.

The region is leading by turning carbon-heavy industries into cleaner ones. This shows how industrial hubs worldwide can help meet global climate goals.

• FURTHER READING: UK’s New Integrity Rules Set Gold Standard in Carbon Credits and Green Finance

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At one of Europe’s biggest climate events, ChangeNOW 2025, France made a major move toward building a stronger, more credible carbon market. On April 24, 2025, French Minister for Ecological Transition, Biodiversity, Forests, the Sea, and Fisheries, Agnès Pannier-Runacher, unveiled a new Charter for Paris-aligned and High-Integrity Use of Carbon Credits.

This launch marks an important step to further push the progress happening since the launch of the 2015 Paris Agreement.

The session also brought together some of the most influential voices in climate action like Simon Stiell, Executive Secretary of the UNFCCC; and Dr. Osama Faqeeha, Saudi Arabia’s Deputy Minister of Environment and President of COP16 under the UN Convention to Combat Desertification.

They stressed that urgent, real-world action like credible climate solutions is needed to move closer to global net-zero goals.

France’s Emissions Drop but Natural Carbon Sinks Also Shrink

France accounted for 12.4% of the EU’s total greenhouse gas (GHG) emissions. Overall, France’s total emissions dropped by 31.2% between 2005 and 2023. However, not all trends were positive. During the same period, France’s carbon sink, comprising mainly forests and land that absorb CO2, shrank by more than half.

While emissions from sectors covered by the EU’s Emissions Trading System (ETS) fell by an impressive 52.3%, emissions from sectors outside ETS (under effort-sharing rules) dropped by only 24.1%.

France now needs to reduce its emissions by around 5% every year from 2022 to 2030 to meet the EU’s new climate target of a 55% net emissions cut.  And more significantly it must also rebuild its carbon sink.

France has set an ambitious goal of cutting its GHG emissions by 50% compared to 1990 levels by 2030. In 2005, France’s emissions stood at about 566 million tonnes of CO2 equivalent (MtCO2e). By 2023, these emissions were 24.1% lower than in 2005.

• In 2023, per capita emissions were 5.7 tonnes of CO2 equivalent — a 37% decrease from 2005.
• The carbon intensity of France’s economy also improved, dropping by 43% between 2005 and 2023.

• READ MORE: EU’s Green Bonds to Slash 55 MTS of CO₂ Annually. Can it Hit Europe’s 2050 Net Zero Target? 

How the Carbon Credit Charter Supports Real Net Zero Progress

The new Carbon-Credit Charter calls on companies to use carbon credits responsibly, focusing on transparency and real climate action. Seventeen international companies, including Schneider Electric, have already signed the pledge.

At its core, the Charter commits businesses to three main principles:

• Prioritize Their Own Emission Reductions: Companies must first work on cutting their own emissions across all three scopes (Scope 1, 2, and 3) and publish a time-bound climate transition plan.
• Use Carbon Credits Only as a Complement: Carbon credits should never replace efforts to reduce emissions. Instead, they can help address any remaining emissions on the way to achieving net-zero goals.
• Clear and Separate Reporting: Companies must clearly report their gross emissions and disclose separately any use of carbon credits.

These principles closely follow the Voluntary Carbon Markets Integrity Initiative (VCMI)’s international best practice guidelines, including their Claims Code of Practice and the upcoming Scope 3 Action Code of Practice.

Building Momentum from COP29

The Charter’s launch comes at a time of rising international momentum. In November 2024, during the COP29 UN Climate Conference, a global consensus was reached on the long-awaited standards for carbon credits under Article 6.4 of the Paris Agreement.

These standards introduced clear rules for validating, verifying, and issuing high-quality carbon credits, setting a stronger foundation for international carbon markets.

Importantly, the new French Charter requires companies to align their carbon credit purchases with:

• The Article 6.4 Mechanism Standards
• The Integrity Council for the Voluntary Carbon Market’s (ICVCM) Core Carbon Principles

This dual focus ensures both supply-side (quality of carbon credits) and demand-side (how companies use credits) integrity.

Why This Matters Now

Commenting on the launch, Lydia Sheldrake, VCMI’s Director of Policy and Partnerships, praised France’s leadership. She said,

“The French government has shown international leadership by convening a group of high-ambition businesses to commit to using carbon credits with confidence and credibility.”

Sheldrake stressed that high-integrity carbon markets can drive immediate progress toward global climate goals. However, she also emphasized that real change will need strong mandates and clear market demand signals—areas where the French government is stepping up.

VCMI helps companies invest in voluntary carbon markets confidently and responsibly. According to Sheldrake, today’s announcement proves that VCMI’s guidance is now central to helping governments and businesses engage with carbon markets properly.

France Gives a Clear Signal to Global Carbon Markets

By introducing this Charter, France is sending a clear message: carbon credits are not a free pass. Companies must first reduce their actual emissions and only use carbon credits for the unavoidable emissions on their net-zero journey.

Furthermore, the signatories have pledged to ensure their credits come from reliable sources, either through the Article 6.4 mechanism or ICVCM-approved standards. This will help remove low-quality or questionable credits from the system, strengthening the credibility of the entire carbon market.

To summarize, the pledge offers:

• A clear blueprint for businesses and governments worldwide on how to participate in carbon markets without undermining climate goals.
• A hope that voluntary carbon markets will become an even more powerful force in the fight against climate change.

Still, success depends on wide adoption. Other countries and more companies must follow this example, committing to credible carbon credit use and putting real effort into emission cuts. All this all, this latest annoucement from France shows that real, practical steps are being taken to strengthen climate action.

• RELATED: Carbon Markets in 2025: A New Era of Accountability, Quality, and Transparency

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Electra, a clean iron startup based in Boulder, Colorado, has announced it raised $186 million in its latest Series B funding round. This new investment will help the company get closer to using its clean iron production technology. It is a key step to cut carbon emissions in the steel industry.

Sandeep Nijhawan, Electra CEO and co-founder, explained how important this funding is, saying:

“Electra’s technology can significantly reduce the steel industry’s carbon footprint, and we are thrilled to have the support of such a diverse group of investors who share our vision of reinventing ironmaking from the ground up. There is a growing demand for our clean iron and this funding puts us on the fast track to commercial-scale production.”

Who is Supporting Green Steel Production?

Founded in 2020, Electra’s goal is to change the way iron is made. Instead of using coal and extreme heat, which are common in traditional ironmaking, Electra uses electricity and renewable energy. This makes the process greener and helps reduce carbon emissions worldwide.

Capricorn Investment Group and Temasek Holdings led the Series B round. They are both key investors in sustainable technologies. Other participants included:

• Breakthrough Energy Ventures,
• Builders Vision,
• Lowercarbon Capital,
• Collaborative Fund,
• S2G Investments, and
• Earth Venture Capital.

With this round, Electra’s total funding reaches $214 million. The money will go toward building a demonstration plant and preparing for large-scale production by the end of the decade.

Several big companies from mining, steel, and consumer sectors also joined these financial investors in the round. These include BHP Ventures, Rio Tinto, Roy Hill, Nucor, Yamato Kogyo, Interfer Edelstahl Group, and Toyota Tsusho Corporation. Their involvement shows growing interest from the industry in Electra’s clean iron technology.

These strategic investors are not just providing funds—they are also future users of Electra’s product. Their participation shows they believe in the company’s ability to impact the global steel supply chain.

Turning Rust into Gold: How Electra’s Iron-Making Tech Works

Electra’s patented process uses a low-temperature method to extract iron from ore. The company skips coal-fired blast furnaces. Instead, it dissolves iron ore in an acidic solution and then removes waste materials.

Finally, it uses electricity to deposit pure iron onto metal sheets. This technique creates 99% pure iron and does not release large amounts of carbon dioxide.

Because the process uses electricity instead of fossil fuels, it can run on renewable energy sources like solar or wind. This makes it flexible and better for the environment. It also allows the use of lower-grade iron ore, including material that would usually be discarded as waste. This means fewer natural resources are wasted, and the need for high-purity ore is reduced.

The ability to remove co-products such as silica and alumina further improves the quality of the iron while protecting critical minerals. The technology is modular, meaning it can be scaled up or down to fit different production needs.

Tackling the Industry’s Biggest Carbon Problem

Steel production is responsible for about 7-9% of global carbon dioxide emissions. A large part of this comes from the traditional way iron is made. The industry emits about 3.7 billion tonnes of CO2 in 2024.

By offering a cleaner alternative, Electra is helping the steel industry meet growing climate goals.

One area where this shift is especially important is in the automotive sector. Car manufacturers are looking for ways to lower the carbon footprint of their vehicles, including the materials used to build them. Steel is a major component in vehicles, and clean iron is key to making low-carbon steel.

Noah Hanners, executive vice president for sheet products at Nucor, one of the largest U.S. steelmakers, explained how Electra fits into this trend.

“We’re seeing a shift in the automotive sector toward increased use of steel made via EAF [electric arc furnace] technology, driven by OEMs’ [original equipment manufacturers] focus on lowering the embedded carbon footprint of their vehicles…”

Nucor, which aims to reach net-zero steelmaking by 2050, sees Electra’s product as a valuable feedstock for its EAF operations. More steelmakers are using electric arc furnaces to cut reliance on coal-based methods. As a result, demand for sustainable iron is likely to increase.

According to the International Energy Agency, the steel industry can cut carbon emissions toward net zero via these means:

From Prototype to Production

The $186 million in new funding will be used to build Electra’s demonstration plant in Colorado, which is set to begin construction later this year. This plant will help the company make clean iron on a bigger scale. It will also let them test the product with partners and collect data for future development.

The demonstration plant is a key step toward the company’s goal of opening a full-scale commercial facility by the end of the decade. Once complete, Electra’s clean iron could be used in a wide range of industries, from construction to transportation to consumer electronics.

The company has signed Memoranda of Understanding with big customers like ZF Group and Interfer Edelstahl Group. This shows there is a market demand for its clean iron. These agreements include steel and battery uses, showing a strong interest in low-carbon materials.

Clean Iron’s Role in a Net-Zero World

Electra’s latest funding round marks an important milestone for the clean materials industry. As countries and companies continue to look for ways to reduce emissions, technologies like Electra’s could play a major role in reshaping global supply chains.

By replacing coal and high heat with renewable electricity and chemistry, Electra offers a cleaner, smarter way to make iron. With strong support from investors and industry leaders, the company is well-positioned to help decarbonize one of the world’s most emitting industries.

• READ MORE: A Bold Plan: Tata to Transform Green Steel with Nuclear Power

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Boeing, one of the world’s largest aerospace manufacturers, shared its first quarter (Q1) 2025 financial results this week, revealing signs of improvement despite continued challenges. Meanwhile, the company reaffirmed its commitment to the environment. Boeing has long-term plans to cut emissions toward net zero and promote sustainability in aviation.

Let’s look at how the company performs this quarter and its carbon emission reduction strategy. 

Earnings on the Ascent: Boeing Narrows Its Losses

In Q1 2025, Boeing reported a loss of 49 cents per share. While still a loss, this was an improvement from the $1.13 per share loss reported in the same quarter of 2024. The company’s total revenue rose 18%, reaching nearly $19.5 billion. 

Analysts expected a loss of $1.18 per share and revenue of $19.38 billion. So, these results came as a positive surprise for investors.

Boeing’s CEO, Kelly Ortberg, noted that the company is beginning to see improvements in its operations due to a focus on safety and quality. He noted that,

“We are seeing early positive results and remain committed to making the fundamental changes needed to fully recover.” 

Commercial airplane revenue grew significantly, increasing 75% to $8.15 billion. Boeing delivered 130 commercial aircraft during the quarter, a 57% increase compared to the same period last year. Part of this growth came from the company ramping up production after the previous year’s temporary grounding of its 737-9 aircraft.

The company aims to produce 38 of its 737 jets per month by the end of 2025. The 787 production line, which had stabilized at 5 jets per month earlier this year, could rise to 7 per month later in the year. 

Boeing’s 777X program is now in an important testing phase with the FAA. The first delivery of the 777-9 is set for 2026.

Jet Set: Orders Fly In as Production Ramps Up

Boeing secured 221 net commercial airplane orders during Q1, including:

• 20 777-9 jets
• 20 787-10 jets
• 50 737-8 jets

This strong order activity boosted the company’s commercial backlog to over 5,600 aircraft, with a total value of about $460 billion.

In terms of cash flow, Boeing reported a free cash outflow of $2.29 billion. While still negative, it is better than the $3.93 billion outflow from the same period last year.

Boeing made headlines when President Trump chose them in March to build the new F-47 sixth-generation fighter jet. This decision replaced Lockheed Martin in this important role. This deal, however, is not yet included in the backlog figures.

Cash and Core: Boeing Sells Digital Unit for $10.6B Boost

In a significant move, Boeing announced a $10.55 billion all-cash deal with Thoma Bravo, a private equity firm. The agreement includes the sale of the company’s Digital Aviation Solutions business, which contains several key software platforms: Jeppesen, ForeFlight, AerData, and OzRunways.

Boeing plans to keep the parts of its digital business that provide aircraft and fleet data for both commercial and defense customers. These tools support diagnostics, maintenance, and repair services.

Following this news and the Q1 earnings release, Boeing’s stock rose by 6% on Wednesday. The company’s shares have recovered from earlier losses in April and are now down less than 3% for the year.

Flying Green: Boeing’s Net Zero Strategy 

Beyond its financial performance, Boeing continues to push forward with environmental initiatives. The company has taken many steps to cut its carbon footprint worldwide to reach net-zero emissions.

• RELATED: Boeing’s $11.8 Billion Annual Loss: A Path to Recovery and Net-Zero Ambitions

In 2023, Boeing reached net-zero carbon emissions for the fourth year in a row. This includes Scope 1 and Scope 2 emissions, along with some Scope 3 emissions like business travel. It achieved this through a mix of energy efficiency upgrades, expanded use of renewable energy, and certified carbon offsets.

At its major manufacturing sites—known as Core Metric Sites—Boeing closely monitors emissions and energy use. These locations represent 70% of the company’s total operational emissions.

Boeing verifies its data using utility bills and third-party assessments. This helps ensure transparency and accuracy.

The company’s strategy follows an “Avoid First, Remove Second” approach:

• Avoid emissions by improving efficiency and switching to renewable energy, such as sustainable aviation fuel (SAF).
• Remove remaining emissions through permanent carbon removal solutions and offsets.

Boeing also aims to reduce its use of offsets by 2024, especially for Scope 1 and Scope 2 emissions. However, offsets will continue to play a role for Scope 3 emissions, such as business travel, and in supporting voluntary carbon markets.

Cascade: A Tool for Industry-Wide Impact

In May 2023, Boeing introduced the Cascade Climate Impact Model as part of its net zero roadmap. Cascade is a data-based tool designed to help reduce emissions across the aviation industry. It shows how different strategies can reduce emissions. For example, replacing older planes with newer, efficient ones or optimizing flight paths can help.

Cascade also looks at the use of SAF, aircraft innovation, and market-based mechanisms. It is publicly available and backed by partners like NASA, IATA (the International Air Transport Association), and universities.

Boeing works with these partners to improve the tool and make it more useful for the aviation industry. The company is using these five ways to help the industry decarbonize. 

The company also teamed up with Norsk e-Fuel to build one of Europe’s first big Power-to-Liquids (PtL) plants in Mosjøen, Norway. This collaboration will create sustainable aviation fuel (SAF). It combines green hydrogen with captured CO₂ to produce electro-SAF (e-SAF).

The initiative supports the EU’s RefuelEU targets, aiming for 6% SAF use by 2030 and 70% by 2050, with specific goals for e-SAF. Boeing’s investment accelerates SAF production, contributing to aviation’s net-zero emissions goal by 2050. ​

Boeing is sharing tools like Cascade and promoting sustainable aviation fuels. This helps the industry work towards its goal of net-zero emissions by 2050.

Flight Path Forward

Boeing’s Q1 2025 performance suggests progress in its efforts to recover financially. At the same time, its environmental strategy reflects a long-term commitment to making air travel more sustainable.

Boeing faces a growing backlog of orders and has major aircraft development programs in progress. The company is also investing in renewable energy and innovation. These steps aim not just to return to profits but to lead the aviation industry toward cleaner and greener skies.

• READ MORE: Boeing’s Big Move: Boosting EU Aviation with Norsk e-Fuel’s SAF – Exclusive Insights from Boeing’s Regional Sustainability Director, Steve Gillard

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