Macquarie is in the business of “Direct Air Capture” apparently.
The rest of us breathe.
Storegga, via a complex at Shell St Fergus, Scotland is a carbon reduction and removal company with a Direct Air Capture facility.
And Macquarie, via its Commodities and Global Markets division is in on the action of siphoning carbon and cash more coolly than anyone, upping its stake in Storegga Geotechnolgies.
Upping its stake in the profit share of the Australian banking industry iseasy enough for Macquarie.
The return on equity for Macquarie Group, at 14.3 per cent is tidy in the pandemic year ending, for them, March 2021. ROE was down from 14.5 per cent in 2020 and 18 per cent in 2019.
Less tidy is the creative counting of the “People” employed in or within the Macquarie.
There are 169,000 of them, and 8000 of them in Australia.
Out of this world, if it happens, will be when Macquarie and Storegga and Shell and Harbour Energy achieve their dreams.
Reforming North Sea natural gas into clean-burning hydrogen, with the associated CO2 emissions captured and stored offshore.
Macquarie’s top project for 2022 is to get Westpac renovated, broken up or sold. To Bank of China probably.
China Construction Bank, anyone.