As the world continues its shift toward a low-carbon economy, JPMorgan is now looking to adopt climate goals that are aligned with investors’ expectations as well as global trends. Having already released its oil, gas, electric power, and auto targets last year, the multinational investment bank is now looking to set emissions targets for all sectors that it is involved in that are most responsible for carbon emissions.

While JPMorgan seeks to cut emissions per tonne of crude steel produced by 31% by 2030, the bank is also looking to achieve a 29% cut in the cement sector and a 36% cut in the aviation sector. The company stated that its targets fall in line with the International Energy Agency’s Net Zero Emissions scenario.

In tandem with its emissions reduction efforts, JPMorgan announced that it will continue to show support for the oil and gas sectors. “Constraining the flow of capital needed to produce and move fuels, especially as the war in Ukraine rages on, is a bad idea. The world still needs oil and natural gas today,” CEO Jamie Dimon commented.

The post JPMorgan Sets 2030 Emissions Targets For Partners appeared first on theprimarymarket.com.

“What we saw maybe three weeks ago was weakness in pricing and demand, even just filing up the fourth quarter was difficult,” Kestenbaum stated in an interview. “Prices have turned and people don’t want to miss the bottom, so they’re trying to replenish inventories.”

Prices have fallen by over 50% throughout the course of the year as a result of falling demand. Steel prices have fallen by 15% in just the past three months alone, thereby making it difficult for steel producers to sell the materials required for auto manufacturing and construction.

Although Kestenbaum does not expect an “explosive year” in 2023, he does believe that signs indicate that the steel industry will improve compared to the current year. He believes that prices will experience a sharp uptick at the start of the year before mellowing out in the later months.

The post Steel to Rebound in 2023, Stelco CEO Claims appeared first on theprimarymarket.com.

As the world continues its shift toward a low-carbon economy, JPMorgan is now looking to adopt climate goals that are aligned with investors’ expectations as well as global trends. Having already released its oil, gas, electric power, and auto targets last year, the multinational investment bank is now looking to set emissions targets for all sectors that it is involved in that are most responsible for carbon emissions.

While JPMorgan seeks to cut emissions per tonne of crude steel produced by 31% by 2030, the bank is also looking to achieve a 29% cut in the cement sector and a 36% cut in the aviation sector. The company stated that its targets fall in line with the International Energy Agency’s Net Zero Emissions scenario.

In tandem with its emissions reduction efforts, JPMorgan announced that it will continue to show support for the oil and gas sectors. “Constraining the flow of capital needed to produce and move fuels, especially as the war in Ukraine rages on, is a bad idea. The world still needs oil and natural gas today,” CEO Jamie Dimon commented.

The post JPMorgan Sets 2030 Emissions Targets For Partners appeared first on theprimarymarket.com.

“What we saw maybe three weeks ago was weakness in pricing and demand, even just filing up the fourth quarter was difficult,” Kestenbaum stated in an interview. “Prices have turned and people don’t want to miss the bottom, so they’re trying to replenish inventories.”

Prices have fallen by over 50% throughout the course of the year as a result of falling demand. Steel prices have fallen by 15% in just the past three months alone, thereby making it difficult for steel producers to sell the materials required for auto manufacturing and construction.

Although Kestenbaum does not expect an “explosive year” in 2023, he does believe that signs indicate that the steel industry will improve compared to the current year. He believes that prices will experience a sharp uptick at the start of the year before mellowing out in the later months.

The post Steel to Rebound in 2023, Stelco CEO Claims appeared first on theprimarymarket.com.