Japan's Sumitomo bets on carbon removal with Norway investment

TOKYO -- Japanese trading house Sumitomo Corp. seeks to lock away carbon dioxide from the atmosphere and sell the resulting credits to CO2 emitters starting in 2025 in a new business that has seen it invest in a Norwegian company, Nikkei has learned.

Sumitomo recently took a small stake in Oslo-based Inherit Carbon Solutions, whose operations include removing CO2 emitted by biogas plants that produce biomethane from manure and other waste. The captured CO2 is stored underground.