Alphabet's Google Reaches Agreement With Stegra for Green Steel Certificates

MT Newswires Live09-17 18:18

Alphabet's (GOOGL, GOOG) Google agreed to purchase environmental attribute certificates relating to steel manufacturing from Sweden-based Stegra, the latter said Thursday.

The contract covers certificates for up to 91,000 tonnes of steel during the initial year, with plans to expand quantities over time, Stegra said.

The purchases will help address emissions associated with Google's corporate operations and data center construction projects, Stegra said.

The agreement uses a book-and-claim system that separates environmental attributes from physical metal deliveries, it said.

Alphabet Class A and C shares were both up 1.3% in Thursday premarket activity.

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