Italian major to cut carbon dioxide emissions

Montedison wins government backing in bid to cut emissions by 10m tonnes per year

Major Italian industrial group Montedison is to cut its emissions of carbon dioxide by 10m tonnes per year between now and 2003 under a deal signed with the national environment ministry. In return for government support, including tax incentives, the group says its operating companies will undertake a wide range of projects designed to reduce their emissions. These include the development of high-efficiency combined cycle fossil fuel combustion plants by Edison, improved waste disposal technology by Daneco-Tecnimont, the development of techniques to re-use waste cooking oils as fuel by Novaol and research into low-impact detergents by Ausimont. In addition to tax breaks, the government is promising to simplify bureaucratic procedures and to promote information exchange between it and Montedison companies. The group estimates its total investment costs at IL2.6 trillion (Ecu1.3bn). "The environment is one of our guiding forces, together with innovation and globalisation," said Montedison's managing director Enrico Bondi. According to Italian press reports, this is the first time that a large Italian group has said that it is placing the environmental challenge at the core of its strategy for development.

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