What Russia's War in Ukraine Means for Efforts to Cut Emissions [Financial Post (Toronto, Ontario, Canada)]
Baker Hughes Company (BKR)
Company Research
Source: Financial Post
Advertisement A multibillion-dollar project that would help reduce emissions and modernize Russia’s biggest aluminum producer is facing challenges, according to people familiar with the situation. Two new plants that would have helped the country’s biggest iron ore miner produce greener raw material for steel to be exported to Europe face likely delays, separate people familiar said.The potentially stalled infrastructure upgrades threaten to derail any nascent steps Russia was taking to make good on President Vladimir Putin’s pledge last year to achieve carbon neutrality by 2060. The Kommersant newspaper said last month Russia is no longer able to meet its emissions reduction targets for mid-century. That are direct implications for Europe’s climate ambitions as well, as the energy transition drives demand for everything from nickel for new electric vehicle batteries to copper for power grid upgrades and steel for new more efficient buildings. Russia’s overall emissions are poised f
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