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TOP STORY
Draghi report calls for more ‘coherent’ EU climate agenda, focus on energy prices
The EU needs to bring down energy prices for industry and ramp up investments to meet its climate goals, Mario Draghi recommended in a widely awaited report on the future of the Union’s competitiveness.
EMEA
LEAK: Poland wants immediate access to free EU ETS allowances for district heating
Poland is asking the European Commission for 30% more free EU ETS allowances for district heating networks, and that they be allocated while implementing climate investments rather than at the end of the period, as stated in EU regulation.
UK spends £250 mln monthly on electricity imported from Europe -report
The UK is importing electricity from Europe at record levels, with the country now spending over £250 million each month, according to new analysis commissioned by power producer Drax.
Nigerian state launches voluntary carbon registry for corporates
The Nigerian state government of Lagos has launched a carbon registry so that corporates can voluntarily document their emissions, as part of efforts to achieve net zero, according to local media.
Portugal reinstates carbon tax as it seeks EU-recommended emission cuts -media
The Portuguese government has unfrozen a tax on CO2, previously suspended, in an attempt to reduce its greenhouse gas emissions and obey recommendations by the European Commission, national media reported on Monday.
Govt departments need to work better together for success in Article 6, says Ghana
Countries hoping for success in Article 6 need to design government departments to work better together, a key figure in the development of Ghana’s Article 6 framework said on Monday.
Euro Markets: EUAs little changed as dip-buying meets continued selling interest
European carbon prices fluctuated in line with natural gas prices on Monday, ending the session almost unchanged as selling interest in the afternoon capped earlier gains, though participants reporting an uptick in dip-buying.
AMERICAS
RGGI Market: Record Q3 auction-ignited sentiment eases to start the week
After strong compliance participation at the Q3 permit sale that cleared at a record, RGGI Allowances (RGA) in the secondary market gave back some gains through Monday trade.
US-based exchange to launch Alberta TIER carbon futures next week
A North American environmental commodities exchange announced Monday that it will next week launch futures contracts for Alberta Technology Innovation Emission Reductions (TIER) credits, as well as a suite of new renewable energy credit (REC) trading products.
LATAM Roundup: Biodiversity and carbon markets intertwine
Carbon Pulse rounds up developments in Latin American and Caribbean carbon markets for the week ending Sep. 8, characterised by a surge of biodiversity pricing news intimately connected to Amazon rainforest carbon projects.
Brazilian oil company, agricultural research organisation to cooperate on raw materials for biofuels
A Brazilian oil company and agricultural research organisation have signed a cooperation agreement to develop technical studies on renewable raw materials for low-carbon products, including biofuels.
ASIA PACIFIC
ANALYSIS: Legal issues around Japan’s proposed mandatory carbon market await more clarification
As Japan has begun preparation work for the design of a compliance carbon market, the government should clarify some key legal issues to remove doubts when embedding the concept of emissions trading in the domestic legal framework, according to experts.
Australian agtech outfit forms another strategic alliance to develop carbon projects
An Australian agtech company has formed a strategic alliance with a local carbon project developer in a bid to expand its presence in the market, it announced Monday.
China to add major industries to ETS this year, minister says
China will add several major industrial sectors to its national emissions trading scheme (ETS) by the end of this year, its environment minister told a conference in Beijing on Saturday according to state media.
China to add three sectors to national ETS this year, first compliance deadline set for 2025
Cement, steel, and aluminium will be brought into China’s emissions trading scheme this year with the first compliance deadline for the new participants set for the end of 2025, according to a policy draft released Monday.
India launches draft green hydrogen certification scheme
The Ministry of New and Renewable Energy (MNRE) in India has launched a draft of its green hydrogen certification scheme with an aim to provide a framework for the measurement, monitoring, and certification of green hydrogen production in the country.
Methane leaks from coal mines need more regulation -report
Methane leaks from Queensland’s many coal mines are not being adequately addressed by the government or Australia’s beefed up Safeguard Mechanism, driving emissions up that should be falling, according to a report from an environmental law firm.
INTERNATIONAL
Fossil fuels’ ties with the university sector far-reaching and underestimated, study finds
The fossil fuel industry has been able to use its ties with the university sector in multiple countries to fund research that promotes its own interests and acts as a form of climate obstructionism in ways that have yet to be fully realised, a recently published study has found.
Fewer than one third of large corporate emitters have long-term climate targets aligned with 1.5C
Just 30% of the world’s biggest corporate emitters have climate targets for 2050 aligned with 1.5C, while the credibility of those set is often unclear, according to new analysis published on Tuesday.
Revenue distribution boosts public acceptance of carbon pricing -report
Carbon pricing is easier to put in place with social policies backing it, according to new research.
Carbon removal platform restructures, appoints CEO
A carbon removal data platform has announced it has become a Public Benefit Corporation (PBC) and brought in a new CEO.
Global chemical company completes fourth divestiture in sale of methanol business
A European-headquartered chemical company on Monday announced a $2.1 billion deal to sell its methanol subsidiary, completing its fourth divestment in the last 10 months.
VOLUNTARY
DATA DIVE: Half of carbon credits retired this year are at least five years old
Half of credits retired from the four main registries of the voluntary carbon market this year are at least five years old, according to new data analysis from Carbon Pulse.
VCM Report: Voluntary carbon market stalls, ICVCM Board fails to meet at the end of August
Thin liquidity continued to plague the voluntary carbon market last week although news of some big ticket tenders brightened the outlook.
Qatar-based carbon registry announces large issuance to South American renewables project
A carbon registry headquartered in Qatar has announced its first issuance of 800,000 units to a South American renewable energy project.
Mexican investor pre-purchases $25,000 of biodiversity, carbon credits
A Mexican investment firm has partnered with a France-based environmental company to pre-purchase biodiversity, water, and carbon credits worth $25,000, Carbon Pulse has learned.
INTERVIEW: Carbon removal startup eyes Nigerian farmland for biochar removals
A Nigeria-based software startup is aiming to generate 400,000 tonnes of carbon removals in three years’ time by helping farmers sequester soil carbon through the application of biochar, in partnership with a commercial bank.
Researchers use AI, satellite images to enhance forest carbon mapping
Researchers have made advances in estimating forest carbon stocks by using artificial intelligence (AI) and satellite imagery, potentially transforming efforts to monitor and manage forest carbon globally.
Scientists outline strategic approach for responsible but urgent exploration of ocean iron fertilisation as climate solution
A team of international researchers has outlined a strategic approach to urgently evaluate the controversial and scientifically unproven practice of large-scale ocean iron fertilisation (OIF) as a potential method to remove CO2 from the atmosphere.
BIODIVERSITY (FREE TO READ)
Philippines govt, UN agency launch €104-mln initiative to support sustainable farming
A UN agency and the government of the Philippines announced today the launch of an over €100-million project to support local farming communities and protect the country’s fragile ecosystems.
Committee recommends Australia’s Nature Positive Bill go ahead, with caveats
An Australian Senate committee has recommended the Nature Positive Bill 2024 be passed by the Senate, the nation’s upper house of parliament, subject to several recommendations it has made.
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EVENTS
Carbon Forward Expo – October 8-10, London and Online: Our flagship conference returns to the stunning De Vere Grand Connaught Rooms in Covent Garden. As the agenda comes together for our ninth annual event, we want to make sure you don’t miss out on our 10% discount offer, which is available throughout August. We’re also offering free passes for offset buyers. Get in touch to find out if you’re eligible and how to apply. Register now!
IETA’s North American Climate Summit – September 24-26, NYC: NACS 2024 is the premier gathering of carbon market practitioners, experts, and governments from across North America and beyond. Attending NACS 2024 presents a unique opportunity to learn from experts, enhance your carbon market expertise, and expand your network of leaders to collaboratively move the needle on delivering climate action and transition finance at scale. Gain insights on the evolving carbon pricing landscape, latest market trends, most relevant regulatory developments and “what to watch” through COP29 Baku and beyond. Organized by IETA, in collaboration with the International Carbon Action Partnership (ICAP), NACS 2024 is an in-person event with recorded plenary and breakout sessions. The program features high-level plenaries, inspirational keynotes, topic deep-dives, cross-cutting breakouts, interactive side events, exclusive roundtables and unmatched networking opportunities to foster meaningful connections. Secure your spot
Eurelectric’s Power Barometer 2024 – October 3, Brussels: Over the past five years, the power sector has faced unprecedented challenges among the COVID-19 pandemic, the energy crisis, and mounting competition from China and the US. With new policymakers taking office, political attention is now on energy independence, industrialisation, competitiveness, and the ongoing climate battle. Eurelectric Power Barometer 2024 data report will take stock of these developments with DG ENER Director General Ditte Juul Jorgensen, MEP Niels Fuglsang, and SSE Managing Director Sam Peacock. Make sure to join them at our free launch event! Register here
Chile Carbon Forum – October 8-10, Santiago: The forum will bring together experts, business leaders, and government officials to discuss challenges and opportunities within the carbon market. It will cover topics such as carbon taxes, offsetting mechanisms, climate finance, carbon market regulations, international cooperation, nature-based solutions, and innovative emission reduction strategies. The agenda includes panel discussions, workshops, and keynote speeches that emphasize the importance of these topics in promoting a low-carbon economy and combating climate change. This forum is crucial for understanding and advancing collaborative approaches to sustainability. For more information, visit Chile Carbon Forum.
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Job listings this week
- *AFOLU Project Development Specialist (f/m/d), KAYA – Berlin/Luanda
- Carbon Trader, ExxonMobil – London
- Senior Energy Policy Advisor, Carbon Policy, Energy Systems Catapult – Birmingham, UK (Hybrid)
- Manager, Carbon Markets, Climate Intelligence Program, RMI – US (Hybrid/Remote)
- Consultant, Regional Collaboration Centre for East and Southern Africa – Ethiopia
*Premium listings
See all listings or post a job
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
Summit partners – China and the US will co-host a summit focusing on non-CO2 GHGs at this year’s UN Climate Summit COP29 in Baku. The announcement came following a three-day meeting of the China-US Working Group on Enhancing Climate Action in the 2020s, hosted by China in Beijing and co-chaired by Liu Zhenmin, China’s special envoy for climate change, and John Podesta, US senior advisor to the president for international climate policy. The two sides also reaffirmed their intention to jointly host a summit on methane at COP29, and recalled their commitment to advance efforts to halt and reverse forest loss by 2030. The US has pressed China to formally contribute to climate finance but to no avail, according to E&E News, as Podesta acknowledged that the two countries have “some differences” in their strategies regarding climate funding
GCF strategy – The Green Climate Fund (GCF) is launching a new organisational strategy to better track the benefits of its support for people on the frontlines of the climate crisis, to strengthen its investment partnerships, and to offer a more efficient service to the organisations that deploy its money on the ground. Since 2015, the world’s biggest multilateral climate fund has invested $15 bln across 270 projects to tackle climate change in developing countries. Speeding up the time it takes to do business with the fund has become a key focus, as is boosting help for the most vulnerable countries, increasing participation by the private sector, and shifting emphasis from one-off projects to programmes that secure wider change. The fund will now reorganise its 300 staff into four regional teams to offer an integrated service to countries and has brought onboard a new management team. However, the outcome of the US election could threaten its balance, given the fund’s reliance on fundraising from wealthy governments, GCF chief Mafalda Duarte told Climate Home.
Collective impact – A global campaign to encourage 10,000 small- and medium-sized businesses to commit to curbing their carbon emissions has been launched by the SME Climate Hub alongside Azerbaijan’s UN Climate Change High Level Champion for COP29, Nigar Arpadarai. It seeks to encourage thousands of smaller businesses worldwide to make decarbonisation commitments ahead of the upcoming UN Climate Summit, COP29, in Baku in November. SMEs represent 90% of businesses globally, employ 70% of the world’s workforce, and contribute over 50% of the global GDP. As such their collective impact on climate change and the net zero transition is hugely significant, yet their smaller scale often means they face challenges in decarbonising. The SME Climate Ambition Drive aims to address these challenged by connecting smaller firms with larger organisations that can help them take steps to transition towards net zero. (BusinessGreen)
EMEA
Ribera under pressure – The pro-nuclear lobby and the centre-right European People’s Party (EPP) are opposed to the appointment of Spanish ecology minister Teresa Ribera as the EU’s next climate chief, Euractiv reports. Ribera was nominated by the Spanish government as the country’s EU Commissioner in Brussels for the next five years and she is widely tipped for the climate portfolio in the next European Commission, which is due to be announced on Wednesday (Sep. 11). But pressure is building on Commission President Ursula von der Leyen to assign Ribera a different portfolio, with Czech lawmakers in the European Parliament criticising Ribera for her anti-nuclear stance. In Madrid, there is speculation that Ribera could be offered the powerful competition portfolio instead. (Euractiv).
The longest grass – A leaked document seen by Euronews indicates that Hungary, current holder of the EU Council presidency, proposes delaying the introduction of minimum levies on aviation and maritime fuels until 2049, aiming to resolve a deadlock on reforming the European energy taxation rules. This has caused frustration among environmentalists who see it as a contradiction to the EU’s goal of reducing CO2 emissions by 55% by 2030, outlined in a reform proposal to the 2003 Energy Taxation Directive made three years ago. Despite previous support from several EU governments for taxing airline fuels, and the considerable environmental discussions at events like the COP28 summit, the aviation lobby argues that such a tax would harm their competitiveness and is unnecessary given their investment in sustainable fuels and new technology. Meanwhile, EU legislative processes are stalled as tax legislation requires unanimous approval from all member states, and further discussions are scheduled in secret.
CO2 cooperation – Finland and Norway have agreed to cooperate on the transport and storage of CO2, according to a press release following a meeting between the Finnish Minister of Climate and the Environment Kai Mykkanen and Norwegian Minister of Energy Terje Aasland on Friday. Finland’s soil is not suited for permanent storage of CO2 while Norway has more than 27 years of experience with safe storage of CO2 under the seabed. The Norwegian government will continue to develop the Norwegian continental shelf and to provide commercial CO2 storage as a service and market opportunity for emissions sources, while the Finnish government will create a framework for companies to allow them to transport CO2 to Norway for storage. The aim is to sign a Memorandum of Understanding (MoU) between the two countries on cooperation on cross-border transportation of CO2 with the purpose of permanent geological storage.
EU energy partners – Bulgaria and Germany have signed a declaration to cooperate on energy, green policies, and climate protection, according to a statement by the Bulgarian Energy Ministry. Since Bulgaria joined the EU in 2007, Germany has been Bulgaria’s biggest trading partner, with trade between the two countries amounting to €23 bln by 2023, according to data from the National Statistical Institute. Both countries are keen to strengthen cooperation to promote energy efficiency and security, sector decarbonisation, development of green energy corridors and interconnections, carbon capture, use and storage, the declaration reads. (Euractiv)
Doubts about Drax – The sustainability of the biomass-powered Drax power plant in Northeast England is in the spotlight once again as the UK government prepares to decide whether to extend a subsidy scheme that pays Drax about £500 mln a year from its 2027 deadline under the end of the decade, the Guardian writes. Its owners claim to be the UK’s largest renewable energy power plant – burning 7 mln tonnes of biomass pellets a year to generate enough electricity to meet almost 4% of UK power needs, but green groups and climate scientists question the sustainability of the wood pellets used by the plant (80% of which come from forests in the US and Canada) and say further subsidies should only be awarded if biomass power is used in conjunction with carbon capture and storage. Scientific studies also point to a potential “carbon debt”, due to the lag between when the emissions escape from power plant chimneys and when new trees are able to absorb carbon, which could accelerate the near-term climate crisis. Drax has also agreed to pay a fine of £25 mln recently due to inaccurate reporting of data.
EU ETS2 backlash – Slovakia has failed to include charges for emissions from heating and road transport in its latest amendment to its Emissions Trading Act, despite an EU directive requiring member states to do so by Sep. 25, with Environment Minister Tomas Taraba (SNS) urging Brussels to revise the directive instead. The country has already missed the deadline twice, first on Jan. 31, 2023 and again after an extension to June 30, 2024. Taraba cited concerns about the social impact of EU ETS2 for not including a levy on emissions in the buildings and transport sectors in the amendment to the Emissions Trading Act, claiming that Slovakia would not implement price increases for heating, petrol, or diesel at this stage and urging the Commission to reconsider the directive. A €86.7 bln Social Climate Fund is being set up to help offset the effects of green policies, though its success will largely depend on how effectively national governments manage its implementation. Full implementation of ETS 2 is still more than three years away but if member states remain reluctant to adopt the directive, the Commission may be pressured to weaken the new ETS 2. (Euractiv)
“Absurd” target – Italy’s environment minister Gilberto Picchetto Frattin called the target to phase out internal combustion engines by 2035 “absurd and ideological” and that it should be modified during an economic forum at Lake Como, Italy. Italy’s current government is strongly opposed to the ICE phase out and has been calling for a revision. Frattin said the target should be changed to better reflect market reality. (L’Automobile)
Green skills gap – More needs to be done in the UK to encourage young people towards a career in the waste and resource management sector in order to plug the green skills gap and help the country towards a circular economy, according to a study commissioned by the Environmental Solutions & Services (ESS) Expo and UK Charity Groundwork. The study undertaken with over 500 16-24 year-olds found 70% have never received any career advice on the skills required or roles available in the waste and resources management sector, while 84% of those questioned have not even considered a career in the sector. However, almost half said that having a job that helped the UK reach carbon neutrality was important to them. Main barriers to entry in the sector included insufficient salary, benefits, and job instability, the survey found.
Carbon pricing in Baku – The Azerbaijani capital will host an international conference on carbon pricing policies on Sep. 25-26, titled The Role of Small and Medium Businesses in the Green Economy, news site Azerbaycan24 reported, citing deputy head of the economy ministry’s state tax service, Samira Musayeva. The state tax service is hosting the conference two months ahead of the COP29 climate summit in Baku. It aims to help harmonise – but not equalise – carbon pricing policies by bringing together tax administration officials from developed and developing countries and international organisations.
ASIA PACIFIC
Backflip – A previous plan to phase out gas-based residential and commercial appliances in Victoria, Australia has been nixed by the state’s premier, One Step off the Grid reported. Premier Jacinta Allen told reporters Monday previous plans to mandate a phaseout of existing natural gas appliances was off the table, citing feedback from the community. However, a ban for gas connections in new homes, which began at the start of this year, is still in place.
EUDR Compliance – Vietnam’s Huy Anh Natural Rubber has appointed agritech company Koltiva to help it comply with the EU Deforestation Regulation (EUDR) and expand its global market reach. The rubber giant plans to increase its cultivation area from 3,000 to 15,000 hectares by 2025 to meet the rising demand for sustainable products, according to a press release. Koltiva’s KoltiTrace MIS platform, which uses satellite data, will provide Huy Anh with tools for deforestation verification and legality checks. Huy Anh will start offering EUDR-compliant rubber products to the EU market in September 2024, according to the press release. The regulation mandates zero deforestation in commodities traded in the EU.
Project expansion – The Bank for Agriculture and Agricultural Cooperatives (BAAC) in Thailand is planning to extend its tree projects in Chumphon province to grow trees to be listed under the Thailand’s Voluntary Emission Reduction Programme (T-VER), in which tree carbon storage will be calculated and verified by external agencies, the Nation reported. The project will promote forest sector carbon credit trading in a bid to generate income for local communities and drive Thailand towards net zero carbon emissions by 2065. The bank had started the project in the Khon Kaen province in February. The bank is supporting carbon credit trading at 3,000 baht per tonne of carbon dioxide to encourage communities to grow more trees and allows farmers to use their trees as collateral assets for borrowing loans from the BAAC. The bank aims to expand the project to another 6,800 communities nationwide, promote reforestation of 108,000 trees annually, and generate over 510,000 carbon credit by 2028.
Transitioning through – Indian ministry of oil is planning to have a have a third of its heavy-duty long-haul trucking fleet fuelled by liquefied natural gas (LNG) instead of diesel in the next five to seven years in order to cut pollution, Reuters reported. Diesel consumption accounts for the bulk of refined fuel use in India, the world’s third-biggest oil importer and consumer. Switching trucks to LNG would curtail India’s diesel consumption. While some cars and buses in India already use compressed natural gas, the government says LNG, which gives better range, would be a better option for long-haul trucks, Reuters added. India plans to raise the share of natural gas in its energy mix to 15% by 2030 from about 6% currently.
Empowering farmers – An Indian agricultural value chain enabler Samunnati has launched an initiative to empower farmer producer organisations (FPO) and farmers to integrate carbon offsetting projects into their operations. The initiative will focus on regenerative agriculture, agroforestry, and biochar projects. The projects will not only boost crop resilience against climate change but also provide additional revenue to the farmers. At a recent conclave, Samunnati entered into four different partnerships focused on promoting sustainable practices.
Gas storage – The Australian state of Victoria is closer to a large gas storage project that would keep the energy source in a chasm under the sea. The state government said Monday it plans to introduce legislation that will allow development of the project, which will use depleted oil and gas reservoirs to store up to 19 petajoules of gas. The project developers Golden Beach Energy have yet to sanction the project but do have offtakers for their gas in one of Australia’s largest power companies Origin Energy. The state is one of the most gas dependent owing to a history of gas that almost came free with the oil being developed off the coast for decades, but has been on the brink of severe shortages for years now. To meet climate and emissions goals and rein in demand the same Labor government is now also considering making households replace old gas fired hot water and heating systems with eclectic ones, but for now has not extended this to cook stoves. The state has already mandated that all newly built homes may not have a gas connection since the beginning of this year.
AMERICAS
New funding – Los Angeles-based hydrocarbon synthesis startup Terraform Industries has recently raised approximately $15 mln to support the development and deployment of its product. The Terraformer, designed to produce cheap natural gas from sunlight and air, can integrate directly with a standard 1MW solar array. It produces 1,000 cubic feet of natural gas and is optimised for 25% utilisation, resulting in a daily output of 6,000 cubic feet. A GW-scale solar array integrated with 1,000 Terraformers can produce enough natural gas to supply 20,000 homes, according to the company. Terraform Industries has added David Tsai, senior mechanical engineer, and Jon Martinez, electrical technician, to its team, the startup announced on its website.
30×30 progress report – California has conserved 25.2% of its land and 16.2% of its coastal waters since the 30×30 Initiative started in 2022, according to a 2024 Annual Progress Report released Monday to kick off Biodiversity Week. The Golden State has added 1.5 mln acres (0.6 ha) of conservation areas since the initiative began with a goal to conserve 30% of land and 30% of coastal waters by 2030. Other milestones achieved over the past year include: $100 mln in funding for the return of roughly 40,000 acres to Indigenous communities; 120,000 acres of federal lands preserved with the expansion of two national monuments; and the roll out of $1.3 bln in funding over three years for conserving properties and restoring habitat, among other conservation goals, the press release said.
ESG deprioritised – While extreme weather is driving up consumers’ concern for climate change, sustainability and environmental issues are becoming less important to CEOs, the Wall Street Journal reported. While the importance of these issues peaked in 2021 for CEO’s, they have now been replaced by artificial intelligence, inflation, growth, and geopolitical uncertainty. “When you look at the importance of ESG, you can clearly see a huge peak in 2021 to 2022 where there was also a lot of action off the back” of COP26, Bain & Co told the Journal. “Now it’s dropped back to 2019 levels.”
Framework for CCUS – CO2 removal alliance CCS+ Initiative last month released a guide for the adoption of carbon accounting infrastructure for industrial carbon management in the US, including carbon capture, utilisation, and storage (CCUS) as well as CO2 removal technologies. Published in collaboration with carbon finance consultancy South Pole, the guide supports the creation of certification framework and explores opportunities and challenges in examining technologies while identifying synergies with existing US regulations. South Pole has been involved in the embattled Kariba REDD+ project in Zimbabwe hit with over-crediting allegations last year.
Admonishment for Azerbaijan – US Senator Ben Cardin, chair of the Senate Foreign Relations Committee, issued a statement Monday imploring Azerbaijan, the COP29 host country, to release detained activists who protested poor labour conditions and harmful environmental impacts of the Chovdar gold mine. Recent investigations from the OCCRP have indicated that the mine is owned by the daughters of President Ilham Aliyev. “If Azerbaijan seeks to create a durable relationship with the Euro-Atlantic community, I urge President Aliyev to release those unjustly imprisoned by his government,” Cardin said.
PNW may see hydropower boost – Researchers at the Pacific Northwest National Laboratory published a study in the journal Environmental Research Letters detailing how climate change might alter hydropower generation across the US. While the climate future may look gloomy for the Southwest, where generation is expected to drop by up to 24% in the mid-term, the Pacific Northwest may enjoy an uptick of hydropower. However, as warmer temperatures bring more rain, Pacific Northwest mountains will store less water in snowpack, shifting the season in which utilities will manage dams to produce electricity.
Where will the money go? – If former US president Donald Trump wins the upcoming election in November, some in his inner circle say he may opt to use the Department of Energy’s (DOE) loan programme to fund fossil fuel and other energy projects favoured by Republicans, Bloomberg reported Monday. The office – once set to be scrapped when Trump held the Oval Office – survived and received a boost under President Joe Biden’s administration, with its lending authority increasing to $400 bln for decarbonisation technologies. Repositioning the green bank under a new Trump administration could prove a boon for natural gas and mining. But emerging clean technologies championed by the Biden administration — ones that commercial banks consider too risk-averse to back at the scale needed — stand to lose a critical funding source they claimed. That has the potential to stunt the growth of American production of things ranging from batteries to green steel essential to reaching net zero emissions in the coming decades. Both the Democrats and Republicans have released party platforms, detailing their priorities regarding climate, energy, and the environment in case their respective presidential picks take office following the November election.
Nuclear power in NY – New York Governor Kathy Hochul is open to nuclear power playing a role as one of the state’s emissions reduction solutions, E&E News reported Monday. Hochul expressed enthusiasm for an “all of the above” approach, excluding fracking and coal power use, as she convened top energy officials and experts to discuss speeding renewable deployment. The state last week also released a draft blueprint for the consideration of advanced nuclear technologies, pointing to a “critical need” for New York to adopt controllable clean electricity technologies that meet power demand year-round, when onshore and offshore wind and solar energy are less available.
BC methane – The British Columbia Energy Regulator has put forward regulations to tackle methane emissions from the province’s oil and gas sector, the provincial government announced Monday. The new regulations will come into effect on Jan. 1, 2025, and will apply to new and existing wells, facilities, and pipelines throughout the province. The regulations take a risk-based approach to detecting methane leaks, with the highest-risk sources requiring continuous monitoring, the province said. They will also require industry to phase out methane-emitting equipment, such as pneumatic devices and pumps, and install zero-emissions technology.
VOLUNTARY
Call for more experts – Gold Standard has launched a consultation on the requirements for uncertainty assessment and addressal in its Gold Standard for the Global Goals (GS4GG) methodologies. This document provides requirements for methodology development and for projects under GS4GG regarding identification, reduction, determination, and mitigation of uncertainties, they said in a release Monday. The consultation runs until Oct. 8.
Yama Yama – Great Carbon Valley (GCV) and Yama have partnered up to advance direct air capture (DAC) projects in East Africa. GCV is a Kenya-based systems integrator and project development company that seeks to develop technical carbon removal projects in the region. Yama is a France-based company active in hybrid electrochemical DAC technology. Under the terms of this partnership, the focus will be on integrating DAC and energy technologies to establish sustainable carbon removal and green industrial hubs in key locations across the Great Rift Valley, they said. The initial pilot project set for 2-3 years will lay the foundation for a demonstrator, a first-of-its-kind plant, and, eventually, a large-scale plant capable of capturing 5 mln tonnes of CO2 annually by 2032.
SHIPPING
Shipmates – Lloyd’s Register is collaborating with Amogy and RotoBoost on a study to reduce emissions in the maritime industry. This joint development project aims to evaluate the potential of hydrogen fuel cells, ammonia-to-power systems, and pre-combustion CCS systems from technical, financial, and regulatory standpoints. The project focuses on assessing these technologies’ impact on a container feeder fleet, comparing them to traditional fuels. The study will include Amogy’s ammonia-to-electrical power systems, RotoBoost’s Marine Hydrogen production technology, and PowerCell’s Marine System 200 hydrogen fuel cell, analysing the cost implications and their effectiveness in meeting stringent emissions requirements set by the EU ETS and the IMO’s Carbon Intensity Indicator (CII). Earlier in the year, Lloyd’s Register issued key approvals for the technologies involved in the study, underscoring the project’s significance in driving the decarbonisation of shipping through sustainable solutions. (MarineLink)
SCIENCE & TECH
AND FINALLY…
Wine not? – The farm ministry of France has forecasted a 18% drop in wine production in 2024, due to adverse weather conditions. Like many other crops, grapes have suffered from the heavy rainfall in France over the last one year. Lack of rains have also led to spreading of diseases among vineyards, Reuters reported. In 2024, output is expected to be 39.3 million hectolitres, a decline of 18% year on year. The revised forecast was 11% below the five-year average of 44.2 mln hectolitres, it added. A hectolitre is the equivalent of 100 litres, or 133 standard wine bottles. The decline in wine production was particularly witnessed in the Jura, Charentes, Val de Loire, and Beaujolais-Bourgogne regions, the ministry said. Other regions in France have witnessed a drop due to other reasons, such as farmer protests in Bordeaux and spring frosts and scalding in Champagne. Wine, along with spirits, is one of France’s biggest export earners, Reuters added.
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