Carbon Emissions

California's top environment regulator, who helped lead the state in its effort to ban gasoline-only vehicle sales starting in 2035 will retire on 30 September as the state spars over climate change regulations with President Donald Trump. Lauren Sanchez, the senior advisor to Governor Gavin Newsom for climate, will replace Liane Randolph. She has been a California Air Resources Board chair since 1992. Donald Trump has criticized the state's plans to reduce emissions and California has filed a lawsuit on several fronts against federal efforts that would loosen regulations related to climate change. In June, he approved three resolutions by...

The U.S. Environmental Protection Agency (EPA) proposed a rule on Friday to end the mandatory reporting of greenhouse gas emissions by 8,000 facilities. This program, the EPA said, was burdensome for businesses but left the public in the dark about the environmental impact. The agency stated that mandatory collection of GHG emission data is unnecessary as it "is not directly related to potential regulations and has no significant impact on improving the health and environment of humans." KEY QUOTE The Greenhouse Gas Reporting Program, according to EPA Administrator Lee Zeldin, is nothing but bureaucratic red-tape that doesn't improve air quality....

According to a report by the Italian-American automaker and the government, Chrysler's parent Stellantis was fined $190.6 Million for failing to meet U.S. fuel efficiency requirements. In an annual report, the National Highway Traffic Safety Administration stated that Stellantis had paid $112.3 in June and $78,3 in March as payments for shortfalls in 2019 and 2020 models. Stellantis paid a total of $773.5 Million since 2018. NHTSA informed automakers last month that they would not be fined for failing to meet fuel-efficiency rules going back to 2022, as per a law signed into law by President Donald Trump. Stellantis confirmed...

The U.S. administration of President Donald Trump announced on Tuesday a comprehensive plan to sell more than 30 oil and gas leasing rights in the Gulf of Mexico, Alaska's Cook Inlet and the Gulf of Mexico over the next fifteen years. Why it's important The plan is in line with the energy dominance agenda of Trump's administration to increase domestic fossil fuel production. This schedule is a major departure from the former president Joe Biden's administration, which had planned to auction a small number of drilling right auctions in order to combat climate change. KEY QUOTE Interior Secretary Doug Burgum...

On Tuesday, two major environmental groups filed a lawsuit against the Trump administration. They claim that the Trump administration secretly convened a group made up of climate skeptics who prepared a document which was used to reverse the U.S. regulations on greenhouse gas emission without prior public notification. The Environmental Defense Fund, along with the Union of Concerned Scientists, filed the lawsuit at a federal district in Massachusetts. They argued that the so-called Climate Working Group, which Energy Secretary Chris Wright assembled, avoided public view, produced erroneous findings, and was illegally used by the Environmental Protection Agency to inform its...

A senior EU official stated on Tuesday that although the EU's methane regulations has been discussed in U.S. negotiations, the EU "firmly" stands behind its legislation. Officials said that energy questions still need to be clarified in a statement about EU-U.S. Trade that will be finalised shortly. The EU will require importers of gas and oil to report and monitor the methane associated with their imports starting this year. The second biggest cause of climate changes is methane emissions from leaky gas pipelines. The official stated, "We are firmly behind this regulation. It is the first one of its kind."...

Lawyers and trade groups say that the Trump administration's plan to undo U.S. Climate Regulation is a way for them to save money, but this could backfire and force automakers, utilities and manufacturers to face a future filled with regulatory uncertainty and litigation risks. The Republican administration of President Donald Trump announced Tuesday that it would rescind a long-held finding that greenhouse gases endanger the health of humans, thus removing the legal basis for U.S. regulations on greenhouse gas emissions. Environmental Protection Agency Administrator Lee Zeldin stated that the move would save companies up to $52 billion on environmental compliance...

Barclays' sustainability chief said on Tuesday that the bank expects to increase its efforts in climate planning with clients and has made 500 million pounds ($666.20 millions) from transition finance and sustainable low-carbon financing by 2024. The bank stated that it would adhere to its target of net-zero emission by mid-century - despite the political backlash in the United States against climate-related measures - but the pace of the change in the economy is being tested by diverging policies, the continued reliance on conventional energy by many economies, and other factors. Daniel Hanna said that Barclays was committed to the...

Citigroup's global director of clean energy investment banking will leave the U.S. bank to advise on mergers and acquistions at boutique Moelis. This was confirmed by people familiar with this matter on Friday. Serge Tismen will officially join Moelis at the end of September after a gardening leave. One source said that he will advise clients of the bank on all aspects of dealmaking and will be reporting to Anton Sahazizian who is the head of Moelis mergers and acquistions. I was unable contact Tismen to get a comment. Citi and Moelis spokespeople declined to comment. LinkedIn shows that Tismen...

According to the summary of the proposal, the U.S. Environmental Protection Agency (EPA) plans to repeal the greenhouse gas emissions standards for light, medium, and heavy duty vehicles and engines within the next few days, after removing the scientific findings that justified these rules. The agency will likely state in a draft summary of its upcoming proposal that the Clean Air Act doesn't authorize it to impose emissions standards to address concerns about global climate change and that they will rescind their finding that GHG emission from new motor vehicles or engines is harmful to public health and welfare. The...

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...

Three sources have confirmed that China's veteran climate envoy who secured two important climate agreements with the United States will meet the EU's top official for green transition on Tuesday in order to revive the floundering international climate talks ahead of the COP30 Summit in Brazil. Xie zhenhua, a former climate envoy who retired after the COP28 talks in Dubai, in late 2023, is scheduled to visit Brussels on 16 September and meet Teresa Ribera, the executive vice-president for the European Commission for a Clean, Just, and Competive Transition. He will encourage the EU to announce ambitious climate goals, and...

A spokesperson for the European Commission said that measures will be proposed this year to stop countries from avoiding its border carbon tariff. Some in Brussels are concerned that Chinese companies could restructure their trade to avoid paying the tax. Carbon Border Adjustment Mechanism, the first carbon border tax in the world, will begin to charge fees for CO2 emissions from imported goods, including steel, aluminum, cement, and fertilisers, starting in January. The system is designed to bring foreign producers up to par with European manufacturers who pay for their carbon emissions through the European Carbon Market. Brussels officials are...

The cabinet announced on Monday night that China would tighten the market for carbon trading by introducing absolute emission caps in certain industries starting 2027. According to a joint statement from the State Council of China and the Central Committee of the Communist Party, the caps will first be implemented in industries that have relatively stable carbon emission levels by 2027. China's national carbon market, or emissions trading system (ETS), will be largely established by 2030. "Policymakers have tightened the system", said Xuewan Chen senior research analyst at LSEG. In a statement, it was stated that the national carbon market...

Japan's land and industry ministers designated Matsumae, and Hiyama areas, off the northern island Hokkaido as promotion zones for offshore wind auctions. The goal is to boost the country's goals of renewable energy. In a joint announcement, the Ministry of Land, Infrastructure, Transport and Tourism and the Ministry of Economy, Trade and Industry announced that the government would develop guidelines for using the zones and hold a public auction to select operators for energy project. The next auction date was not provided. By 2040, Japan wants to reach 45 gigawatts in offshore wind power, which will help reduce the country's...

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...