Mitsubishi wants to become the world’s largest CO2 dealer
Automobile manufacturer Mitsubishi would like to develop into the world’s largest CO2 trader in the foreseeable future. First goal: offset 200,000 tons of carbon dioxide. The backgrounds.
Against the background of climate change, many industries are trying to reposition themselves for the future. This also includes the automotive industry. Because in the not too distant future, combustion engines should no longer play a major role. At the same time, electric motors require significantly less labor because the electronics consist of fewer parts.
That has too the Japanese car manufacturer Mitsubishi recognized. Therefore, the group is now repositioning itself and would like to become the largest CO2 trader in the world in the future. Because trading in CO2 certificates is booming – not least because the market volume is steadily shrinking.
CO2 dealer Mitsubishi initially wants to compensate for 200,000 tons
For the plan to work, Mitsubishi wants to filter millions of tons of carbon dioxide equivalents from the atmosphere. Together with the South Pole project team, the group wants to connect issuers with sustainable project partners. The basis for this is to be an in-house marketplace.
So far, Mitsubishi has committed to filtering up to 200,000 tons from the atmosphere with the project. This corresponds to about a quarter of all initiatives already planned. If everything goes according to plan, offsetting one tonne of greenhouse gases can cost up to 200 US dollars. Customers include the reinsurance company Swiss RE and the UBS Bank.
Mitsubishi relies on controversial projects
Still, it remains to be seen how Mitsubishi plans to absorb the greenhouse gases. Because so far the company has been using rather controversial projects. For example, those in which huge machines pump CO2 into old oil fields. Other projects focus on the production of biofuels, for example from corn.
However, it is still completely unclear whether such projects have any lasting impact on our planet. Project managers often overestimate the actual impact on our climate. Therefore, eliminating potential emission sources remains the best solution.
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