<p>Dow said on Wednesday it expects to add $3 billion to its core earnings by 2030, and laid out plans to build a new net-zero carbon emissions ethylene and derivatives facility.</p>.<p>The chemicals maker, once part of DowDupont, joins a growing list of companies that have announced plans to cut emissions and reduce carbon footprint following pressure from investors.</p>.<p>Near-term investments in packaging, specialty plastics, coatings and some other businesses are expected to generate about $2 billion of additional earnings before interest, tax, depreciation and amortization (EBITDA), and the new ethylene and derivatives complex is expected to deliver about $1 billion of EBITDA per year by 2030.</p>.<p>The new facility would more than triple Dow's ethylene and polyethylene capacity from its Fort Saskatchewan, Alberta site, and the company expects to allocate about $1 billion of capital spending annually for the project.</p>.<p>Dow also said it signed eight new renewable power purchase agreements across Europe and Americas to reduce its Scope 2 emissions, or emissions from the power a company uses for its operations, by more than 600,000 metric tons of carbon dioxide equivalent per year.</p>.<p>Dow had last year set a target to be carbon neutral by 2050.</p>.<p>United Nations scientists say the world's net emissions must fall to zero by 2050 to limit the rise in global temperatures to no more than 1.5 degrees Celsius versus pre-industrial levels.</p>.<p>Net zero plans require companies to decrease carbon dioxide emissions and offset any remaining emissions using projects that capture the gas.</p>
<p>Dow said on Wednesday it expects to add $3 billion to its core earnings by 2030, and laid out plans to build a new net-zero carbon emissions ethylene and derivatives facility.</p>.<p>The chemicals maker, once part of DowDupont, joins a growing list of companies that have announced plans to cut emissions and reduce carbon footprint following pressure from investors.</p>.<p>Near-term investments in packaging, specialty plastics, coatings and some other businesses are expected to generate about $2 billion of additional earnings before interest, tax, depreciation and amortization (EBITDA), and the new ethylene and derivatives complex is expected to deliver about $1 billion of EBITDA per year by 2030.</p>.<p>The new facility would more than triple Dow's ethylene and polyethylene capacity from its Fort Saskatchewan, Alberta site, and the company expects to allocate about $1 billion of capital spending annually for the project.</p>.<p>Dow also said it signed eight new renewable power purchase agreements across Europe and Americas to reduce its Scope 2 emissions, or emissions from the power a company uses for its operations, by more than 600,000 metric tons of carbon dioxide equivalent per year.</p>.<p>Dow had last year set a target to be carbon neutral by 2050.</p>.<p>United Nations scientists say the world's net emissions must fall to zero by 2050 to limit the rise in global temperatures to no more than 1.5 degrees Celsius versus pre-industrial levels.</p>.<p>Net zero plans require companies to decrease carbon dioxide emissions and offset any remaining emissions using projects that capture the gas.</p>