DP World to Invest Around $500 Million to Reduce CO2 Emissions

Dubai-owned ports giant DP World intends to invest around $500 million to reduce carbon dioxide emissions in its operations by 700,000 tonnes over the next five years, state news agency WAM reported on Monday, citing the company's chairman and CEO Sultan Ahmed Bin Sulayem.

DP World's plans include transitioning its global fleet from diesel to electric power, investing in renewable energy, and exploring fuel alternatives, Sulayem said via video conference during the COP27 summit in Egypt, WAM added.

(Reuters - Reporting by Lina Najem, Editing by Louise Heavens)