Carbon Emissions

AGL Energy announced on Friday that it has acquired South Australia's Virtual Power Plant from Tesla. The Australian power retailer is looking to increase its battery storage to help drive the green energy transition. AGL is aiming to achieve zero net carbon emissions in 2035 by implementing grid-scale storage projects of 1.4 gigawatts. AGL will be able to access residential solar and battery system networks consisting of approximately 7,000 Powerwall batteries. More are expected to be installed in this year. SAVPP is an extensive network of Powerwall and solar home battery systems installed in South Australian community and social housing....

The U.S. Senate Republicans released a revised budget and tax bill late Friday that would eliminate the $7,500 credit for new electric vehicles and leases as well as $4,000 credit for used EVs by September 30. Prior to the new version, the credit would have been terminated 180 days after it was signed into law for new vehicles, 90 days after that for used vehicles. It would also have been terminated immediately for vehicles that were not assembled in North America or those that met other requirements. The Republicans have targeted EVs in a variety of ways, reversing former president...

Tony Dalwood said that U.S. investors and Asian investors were looking at Europe as a result of the U.S. government's decision to withdraw support for projects in the United States related to the transition to low-carbon economies. Since assuming office, U.S. president Donald Trump has taken steps to reduce various environmental initiatives and regulations, as well as standards, that were championed by the predecessor. This includes ending tax credits for projects involving green energy years earlier than originally planned. Other countries are also feeling the pressure to slow down their transition to zero emissions, but many governments still remain committed...

After Donald Trump was elected, a Canadian startup has reported an increase in inquiries from U.S. firms. Deep Sky, a startup, recently finished construction of its "Alpha Direct Air Capture" test ground, in Alberta. It will allow 10 companies to fine-tune and deploy technologies as they work towards developing commercial-scale plants. Deep Sky CEO Alex Petre stated that due to the Trump administration’s decreased focus on climate and uncertainty regarding the future funding support of DAC technology in the U.S., Deep Sky has received more inquiries from U.S. carbon tech developers than they expected. She said that the changes south...

The U.S. Supreme Court agreed on Friday that the legal challenge against California's vehicle emission standards and electric cars, under a federal law on air pollution, should not have been dismissed. In a 7-2 decision, the justices overturned a lower-court's dismissal of a lawsuit filed by a Valero Energy affiliate and groups from the fuel industry. The lower court concluded that plaintiffs did not have the legal standing required to challenge the 2022 U.S. Environmental Protection Agency's decision to allow California to set its own regulation. The majority wrote: "The government cannot target an industry or business through a stringent,...

The U.S. Supreme Court agreed on Friday that the legal challenge against California's vehicle emission standards and electric cars, under a federal law on air pollution, should not have been dismissed. In a 7-2 decision, the justices overturned a lower-court's dismissal of a lawsuit filed by a Valero Energy affiliate and groups from the fuel industry. The lower court concluded that plaintiffs did not have the legal standing required to challenge the 2022 U.S. Environmental Protection Agency's decision to allow California to set its own regulation. The dispute revolved around an exception given to California under former Democratic President Joe...

The U.S. Senate Republicans proposed a tax-and-budget bill on Monday that would eliminate the $7,500 credit on the sale of new electric vehicles 180 days after it is signed into law. It would also immediately terminate the credit for leased EVs manufactured outside North America. The Republicans have targeted EVs in a variety of ways, reversing former president Joe Biden's policies that encouraged the use of electric vehicles and renewable energies to combat climate change and reduce emission. The Republican Senate Finance Committee's proposal would also eliminate a $4,000 tax credit for EVs on used vehicles 90 days after it...

Lee Zeldin, the administrator of the U.S. Environmental Protection Agency, said that it has proposed to repeal Biden administration rules intended to curb carbon dioxide and mercury emissions as well as other air pollutants from power plants. This is in line with a March promise made by the agency. The announcement is part of President Donald Trump's larger efforts to undo environmental regulations that he sees as unnecessary obstacles to industrial development and increased energy production. Zeldin, at EPA's headquarters, said that "EPA has taken an important step in reclaiming sanity, demonstrating we can protect the environment while growing the...

According to three sources, the U.S. Environmental Protection Agency (EPA) will announce Wednesday that it is rolling back the Biden administration's rules to reduce carbon dioxide, mercury, and other air pollutants from power plants. This follows through on the promise made by the agency in March. The announcement is a major step in President Donald Trump’s efforts to undo environmental regulations that he believes are unnecessary barriers to industrial growth and increased energy production. In March, EPA Administrator Lee Zeldin announced his intention to undo three dozen air and water regulations. Sources say Zeldin is expected to roll back carbon...

The Transportation Department has paved the road for looser fuel economy standards in the United States by declaring on Friday that former President Joe Biden’s administration overstepped its authority when it assumed a high uptake of electrical vehicles to calculate rules. The Department made this declaration when it published its final "Resetting of the Corporate Average Fuel Efficiency Program" (CAFE). Fuel economy requirements will be revised by a separate rule issued by the Trump administration. "We make vehicles more affordable in the United States and we are making it easier to manufacture them." In a statement, Transportation Secretary Sean Duffy...

By Manuela Andreoni & Ricardo Brito SAO PAULO - Brazilian prosecutors have filed a lawsuit on June 3 to cancel a $180m carbon offset scheme that the state of Para, in partnership with major corporations and foreign governments signed last year. The case could be a major blow to both the government of Para which is hosting the United Nations Climate Summit, also known as COP30 this year, and the carbon credit market in general, which looked to government programs to help address fraud and abuse concerns. Amazon.com Inc. and at least five companies have agreed to buy the credits...

By Manuela Andreoni & Ricardo Brito SAO PAULO - Brazilian prosecutors have filed a lawsuit to cancel a $180m carbon offset scheme that was signed by the state of Para last year, with the support of a coalition of large corporations and wealthy governments. The lawsuit is a strong blow for the government of Para which will host the next global summit on climate change, COP30. It also strikes the carbon credit industry in general, who had been struggling to reposition themselves after years of being accused of fraud and abuse. Para is home to one of the most fragile...

BHP, the world's largest listed miner, announced on Monday that it had signed preliminary agreements with China's battery giants CATL & BYD in order to explore battery options for mining equipment & transport across all its global operations. The companies will research and develop joint battery solutions for heavy equipment, such as locomotives and mining trucks. BHP's Western Australian operations transport millions of tons iron ore from mine sites all the way to the coast. Both companies will be involved in the study of battery recycling and fast charging infrastructure. The new products could also be a model for reducing...

Australia and China need to work together more closely on green steel, said Anthony Albanese, the Prime Minister of Australia, in Shanghai, on Monday. He also called for China, the world's biggest steelmaker, to reduce its excess production capacity. China depends on Australia for two-thirds or its iron ore consumption by its massive steel industry. This trade will bring Canberra A$105 Billion ($68.90 Billion) in this financial year according to the most recent government estimates. Decarbonisation, which requires higher-grade iron ore from countries such as Guinea and Brazil, puts this trade at risk for Australia. Green steel is metal that's...

HSBC, the British bank, joined major U.S. banks in leaving the climate coalition as the ambitions of some governments to achieve net zero dwindled. HSBC stated that while it acknowledged the role played in the development of guiding frameworks for banks to set emission-reduction goals by the Net Zero Banking Alliance (NZBA), the foundation had now been established and the bank decided to withdraw as it prepared to update its net zero transition plan. "We are resolutely committed to supporting our clients in achieving their transition goals and making progress toward our Net Zero by 2050 goal," said an HSBC...

It was announced on Tuesday that the Brazilian state of Piaui would issue carbon credits as a reward for actions taken to combat deforestation. This will give momentum to other regional initiatives to protect the country's forest. Brazil wants to keep its ambitions in reducing emissions, as it prepares for the next round of climate talks to be held in the Amazonian town of Belem this November. Piaui, unlike traditional forest protection plans proposed by private landowners and involving government and local communities, is focused on public sector efforts. These efforts cover a larger area and are aimed at avoiding...

A top climate official said in comments published by the Financial Times on Monday that the European Union will not sign a joint climate pledge with China during a summit to celebrate a half-century diplomatic relationship. EU climate targets are some of the most ambitious in the world, but have always been based on domestic emission reductions. The bloc has a deadline of mid-September to submit to the UN a new climate target for 2035. Officials from the EU said that Brussels refused Beijing's repeated demands for a climate agreement after the summit between the second and third largest economies...

A top climate official said in comments published by the Financial Times on Monday that the European Union will not sign a joint climate pledge with China during a summit to celebrate a half-century diplomatic relationship. EU climate targets are some of the most ambitious in the world, but have always been based on domestic emission reductions. It faces a deadline of mid-September to submit to the United Nations a new climate target for 2035. Officials from the EU said that Brussels refused Beijing's repeated demands for a climate agreement after the summit between the second and third largest economies...

Proxima Fusion is a Munich-based company that specializes in nuclear fusion technologies. It announced on Wednesday that it had raised 130 million Euros ($148.8 Million) to move it closer to its goal to develop a novel power station. Why does it matter? Around the world, dozens are exploring nuclear-fusion technology, which is a newer form of energy generation that harnesses the same intense process that powers our sun. There is fierce competition between private and public companies, governments of European countries, United States, and China and technology options such as Plasma confinement used by Proxima or lasers. The new conservative...

Automakers said that the U.S. Transportation Department will declare that the fuel economy regulations issued by then-President Joe Biden, which included electric vehicles when setting the rules exceeded the legal authority of the government. Sean Duffy, Transportation Secretary, said that the National Highway Traffic Safety Administration of the Department submitted to the White House on Friday its interpretive rule "Resetting Corporate Average Fuel Economy Program". He said that the previous administration "illegally" used CAFE standards to impose a mandate for electric vehicles, which drove up car prices. The reduction in fuel efficiency requirements could be achieved by removing EVs as...

The European Parliament has cleared the way for a rapid approval of EU CO2 emission targets for cars and vans, which will give automakers more time and reduce potential fines. European automakers warned that failing to meet existing targets this year could lead to fines up to 15 billion euro ($17.0 billion), as the goals depend on selling more electric cars, a segment in which they are behind their Chinese and U.S. competitors. After heavy lobbying by automakers, the European Commission has proposed that they meet their targets using the average emissions for the period of 2025-2027 rather than this...

Republican lawmakers who are working to extend President Donald Trump’s tax cut legislation face a clean-energy dilemma at home. Major clean energy investments are being made in their districts, but Trump’s skepticism about the industry is at odds. The Ways & Means committee of the House of Representatives, which is responsible for drafting the tax legislation to extend the 2017 tax cuts, has 11 Republicans who represent regions that have seen green energy investments of hundreds of millions or billions of dollars over the past few years. Clean energy investments boomed after former President Joe Biden's Inflation Reduction Act passed...

John Elkann, Chairman of Stellantis, said on Tuesday that the U.S. Tariffs and strict European Union emission standards put automakers in danger at a time they are facing increased competition from China. Elkann, at a shareholder's meeting, said that the American and European auto industries were at risk due to the current course of tariffs and regulations. He said: "That would be tragic as the car industry is a source for jobs, innovation, and strong communities." Elkann is leading the group as it searches for a new chief executive officer after Carlos Tavares departed late last year. He said that...

China will finalise the long-awaited global green sovereign bonds on Wednesday. This is expected to mark the beginning of a series that will increase its market share at a crucial time. The signal was sent to indicate that the vehicle was ready Last month Top Chinese Finance Ministry officials laid out the detail at a meeting in London with investors on Tuesday. The 6 billion yuan bond ($825 millions) is scheduled to be listed on the London Stock Exchange. Green bonds have grown to a market value of $3 trillion over the past few years. China's state-run firms have made...