Rithika Krishna and Laura Sanicola of Reuters report that Chevron will purchase Renewable Energy Group for $3 billion.
- Chevron, America’s second largest oil and gas producer, has set a goal to be operationally net-zero by 2050 and will invest $10 billion by 2028 to reduce CO2 emissions.
- Renewable Energy Group produces both renewable diesel and biodiesel which are much cleaner alternatives to traditional diesel.
- Private sector leadership will be essential to tackling climate change.
“The deal is expected to accelerate progress toward Chevron’s goal to grow renewable fuels production capacity to 100,000 barrels per day by 2030 and brings additional feedstock supplies and pre-treatment facilities, the company said in a statement.”
Read the full article here.