Air Products Targets To Reduce Intensity Of Scope 3 Emissions By One-third By 2030

(RTTNews) - Air Products (APD) said it is creating a new "Third by '30" carbon dioxide emissions intensity goal for Scope 3 emissions, in addition to its existing Scope 1 and 2 goal. The company noted that it is committed to addressing climate impacts throughout its upstream and downstream value chain, also known as Scope 3 emissions. The additional "Third by '30" goal is to reduce the intensity of Air Products' Scope 3 emissions by one-third by 2030, using 2015 as the baseline year.

Also, Air Products will spend or commit at least $4 billion in additional new capital for the transition to clean energy over the next five years, bringing its total commitment to first-mover projects to $15 billion through 2027. The company has already committed over $11 billion to real zero- and low-carbon hydrogen projects. Air Products noted that it has identified tangible transition plans for new investments and modifications of existing company assets, including low- and zero-carbon hydrogen. The company will also continually increase its use of renewable energy, convert its fleet of about 2,000 trucks to hydrogen fuel cell zero-emission vehicles, and implement additional actions.