G7 finds compromise on gas, pledges to boost efforts for fossil fuel phase out by 2050
G7 energy ministers pledged to accelerate efforts to phase out unabated fossil fuels to reach net zero emissions by 2050 and set specific solar and wind power targets, but in a compromise allowed for continued investment in gas to meet shorter term energy security priorities in a communique released by the group after its weekend summit concluded in Sapporo, Japan.
Read MoreIEA urges governments to focus on emissions intensity to better align hydrogen frameworks
Governments need to work together towards providing greater transparency in defining the emissions intensity of hydrogen to facilitate the market and regulatory signals required at a global level to boost investment in the sector, the International Energy Agency (IEA) has urged in a report.
Read MoreAustralia losing edge in global hydrogen race despite growing project pipeline
Australia accounts for around 40% of the value of investment in the global clean hydrogen pipeline, but the large number of projects yet to reach final sanction means that its status as a global leader is under threat with other countries accelerating their policy support for the nascent sector, Energy Minister Chris Bowen warned on Thursday.
Read MoreTech platform, startup to develop ocean carbon capture venture
A capital markets technology platform has teamed up with a startup involved in oceanic carbon capture to pioneer a new technology to trap CO2 emissions for sequestration, they announced on Wednesday.
Read MoreBig shipper orders methanol-fuelled vessels as non-profits issue LNG warning
Leading container shipping company CMA CGM ordered 16 large dual-fuel container ships this week from China State Shipbuilding Corporation that can be powered by either methanol or LNG, with non-profit groups welcoming the accelerated move towards greener fuels but also warning the industry from deploying LNG-fuelled ships as a shorter-term measure to reduce dependence on dirty fuel oil.
Read MoreThailand to introduce carbon tax for key sectors
Thailand plans to introduce a carbon tax covering three key sectors to help meet the Southeast Asian economy’s net zero goals, although details on when it will be implemented are yet to be determined, according to local media reports.
Read MoreSafeguard Mechanism reforms can drive CCS investment to meet tighter emissions compliance, consultant says
Australia’s revised Safeguard Mechanism could trigger a round of investment in CCS projects as gas producers scramble to comply with a requirement that new gas fields supplying LNG facilities must be zero emission developments, analysis released on Thursday has said.
Read MoreViable pathway exists for accelerating green steel projects with concerted policy action, report says
A viable investment case for near-zero emission steel projects is within reach in Europe and North America, opening up the possibility to put the steel sector on a Paris-aligned emissions pathway by 2030, according to a report released on Wednesday.
Read MoreANALYSIS: Experts warn Big Oil against using high prices, energy security narrative to ignore long-term transition risks
Oil companies shouldn’t lose sight of the long-term implications for their business models of an eventual peak in fossil fuel demand, despite their citing of energy security concerns and record-high profits on the back of high energy prices prompting sentiment to maintain robust oil and gas production levels, analysts have told Carbon Pulse.
Read MoreCarbon market experts team up to launch new firm to develop NBS projects
A team of carbon market experts has launched a company that seeks to unlock capital at scale for nature-based solutions (NBS), focusing on projects in the Global South, they announced on Tuesday.
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