Finance

Unilever invests $1.2bln to replace oil products in cleaning brands

Unilever invests $1.2bln to replace oil products in cleaning brands
Friday, 04 September 2020 15:45

Unilever announced an investment of $1.2 billion to cut fossil fuels from all of its cleaning brands. The move aligns with the company’s ambition to become more environment-friendly and reduce its carbon footprint.

Through a series of chemical reactions, the carbon elements in the oil are transformed into chemicals capable of removing oil stains from clothes. The migration to greener methods has been technically feasible for several decades but the cost for such a method is high.

Unilever is the first major investor in the sector to commit to replacing these hydrocarbon derivatives with ingredients from wood, microbial fermentation, or recycled carbon. The planned funding will be used primarily for research, implementation of the solutions found, and working with suppliers.

“What Unilever is trying to do is very comprehensive. With great ambition, it is looking at the entire supply chain,” said Katy Armstrong, a researcher at the University of Sheffield who works on reusing carbon.

 

On the same topic
• WEF identifies 37 financial instruments for nature, highlighting 10 as priority solutions delivering both financial returns and ecological outcomes.•...
EBRD, EU, GCF, and Canada plan €65 mln ($77 mln) green loan for Crédit du Maroc. Funds to support clean energy, water treatment, and sustainable...
World Bank projects Ivory Coast could achieve 7-8% average annual growth with fiscal mobilization above 15% of GDP. Ivory Coast's tax revenue...
• NSIF denies rumors of interest in buying Chococam, saying it is focused on other projects.• Cadyst Invest, linked to Célestin Tawamba, is rumored to...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
03

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
04

Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...

Malawi’s Election Puts Incumbent Chakwera to the Test on Inflation and Fuel Shortages
05

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.