Blockchain market for captured carbon eyed by Mitsubishi Heavy

Trading would aid companies seeking new ways to use CO2 as a resource

20210813N Drax power plant

U.K. power company Drax will use Mitsubishi Heavy's technology to capture and store CO2 released from its biomass power plant.  (Photo courtesy of Drax) 

TOMOYOSHI OSHIKIRI, Nikkei staff writer

TOKYO -- Mitsubishi Heavy Industries and IBM Japan will create a carbon capture trading market as plastics makers and others come up with innovative ways to use carbon dioxide as a raw material.

By bolstering trading of the global-warming gas so that it is used productively in materials, the market, which is scheduled to go online in 2025, could aid efforts to decarbonize the economy.

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