Carbon Emissions

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...

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...

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...

Texas removed BlackRock on Tuesday from a list that was seen as boycotting energy companies. The New York asset manager only won this step after it drastically reduced its climate goals. Texas Comptroller Glenn Hegar stated that the decision was a reflection of BlackRock's withdrawal from climate-related industry groups such as the Net Zero Asset Managers Initiative. Hegar also pointed out that the firm had lowered its support of shareholder environmental resolutions, and supported a new Texas Stock Exchange. BlackRock has "acknowledged the real social costs and economic costs that are incurred by limiting investments in the oil and natural...

Meta Platforms announced on Tuesday that it had reached an agreement with Constellation Energy, which will keep one of its reactors in Illinois operational for the next 20 years. This is the first time a Big Tech company has made a deal with a nuclear plant. Why it's important The Big Tech Companies are seeking to secure electricity, as the U.S. demand for power has risen for the first two decades due to artificial intelligence and data centres. Illinois is subsidizing Constellation's Clinton Clean Energy Center nuclear plant with a program of zero emission credits funded by ratepayers. This program...

Democratic lawmakers harshly criticised the chief executives at BlackRock, JPMorgan, and other top financial companies for leaving global coalitions dedicated to combating climate changes. They urged them to maintain their previous commitments, and policy targets to reduce greenhouse gas emission. A letter sent to executives by members of Congress revealed that, in the face of increasingly severe weather and financial risks, their bosses "actively" decided to relinquish leadership over climate change. The letter sent on Thursday also requests records of any communications between the executives and the Trump administration about plans to reduce their environmental and social work. It said:...

Colorado's highest Court rejected ExxonMobil’s and Suncor Energy’s attempts to dismiss a case filed by the City of Boulder to hold fossil fuel companies accountable for climate change. In a decision reached by a majority of 5-2, the Colorado Supreme Court ruled that federal law does not prevent Boulder and the surrounding counties from claiming the energy companies have violated state laws by misleading the public regarding the dangers of fossil fuels. This was only the second instance in which a state's supreme court allowed one of many lawsuits brought by local and state governments against large energy companies regarding...

Brazil, the COP30 President, proposed on Friday that pledges of emissions reductions be expanded to include companies, states and cities. This was to bolster climate efforts after the U.S. withdrew from the Paris Agreement. Brazilian diplomats working on the climate summit are working closely with U.N. officials to encourage countries to submit revised targets for reducing greenhouse gas emissions before September. Many missed the deadline of February. In the Paris Accord, where almost all countries agreed to limit global warming to 2 degrees Celsius or less from pre-industrial levels by 2050, it is required that these targets be submitted and...

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...

The Brazilian reforestation start-up re.green said it had received 80 million reais (about $14.13 million) from the state development bank BNDES. Bradesco was also a financial intermediary in this deal. The deal is similar in nature to the 160 million reals deal announced last month by Mombak, which was the first reforestation program backed by Brazil’s 10 billion reals "New Climate Fund", unveiled by 2023 for financing climate-related projects. As Brazil's new carbon market gains momentum, private investors and lenders like Bradesco and Santander are interested. Bradesco acted as Mombak's intermediary. Many investors still view restoration as a risky business,...

According to a letter released by the Brazilian presidency on Thursday, COP30, which is this year's global climate summit, has called for new global governance mechanisms in order to help countries implement their commitments and curb global warming. The summit in the Amazonian town of Belem, in November, will mark the 10th anniversary since the Paris Accord when signatories agreed that warming should be kept well below 2 degrees Celsius compared to pre-industrial levels. Many nations are still struggling to bring their plans to life and reduce carbon emissions to the level necessary to prevent the planet from reaching catastrophic...

Valter Correia Da Silva, Valter's Special Secretary for COP30 in the Brazilian government, said on Wednesday that Brazil had scheduled the first round of negotiations to help countries prepare for COP30 - the global climate summit. The main event will begin at Belem in the Amazonian region of Brazil about a month prior. He said that the Pre-COP will be held in Brasilia on October 14 and 15. The Pre-COP, despite being a smaller event with just the main negotiators present, has become more important this year due to the fact that countries are struggling to meet their new pledges...

Mombak, a Brazilian startup that specializes in reforestation, announced on Monday it had secured 100 million reais (17.8 million dollars) from Santander Brasil, and the Brazilian Development Bank BNDES. The company is aiming to grow rapidly in the market for carbon removal. Mombak, a company that buys land from farmers or ranchers to restore it to its original state in the Amazon Rainforest, and partners with them, will be first to receive funding for reforestation projects with the support of Brazil's New Climate Fund. The Brazilian government announced the initiative to finance climate related projects in 2023. Santander will act...

The partners announced on Monday that Brazil's state oil company Petrobras, and Brazil's development banking institution BNDES had partnered to create a financing program for forest restoration initiatives in Amazonia. Petrobras, under the ProFloresta+ Program, will hold tenders for carbon credits generated by restoration projects. The winning bidders can apply for low-interest loans to establish projects from BNDES. The pilot phase of the program is expected to generate investments of 450 million reais (78.45 millions) for restoration. This will lead to the replanting and regrowth of 15,000 hectares of forest. Petrobras is expecting to sign contracts for long-term with up...

Brazil sets basic rules on its carbon market Largest polluters, farmers escape cap to emissions Protecting natural areas will receive more funding By Andre Cabette Fabio The rules don't limit emissions from agriculture, which is the top sector in the country for carbon pollution, accounting for 74% of all emissions. "We missed the chance to bring agribusiness into a regulated sector, which would not only limit emissions but also promote sustainability," said Gabriela Savian. She is the deputy director of policy at IPAM, the Amazon Environmental Research Institute. According to Natalie Unterstell of Instituto Talanoa in Brazil, a climate policy...

Chilean stateowned miner Codelco stated on Tuesday it is preparing a 25% cut in its indirect emissions by 2030, as part of a bigger decarbonization plan and as market needs grow for more traceable copper. WHY IT'S IMPORTANT Codelco is the world's biggest copper manufacturer, and mining is a greatly polluting market. Studies point to mining as accountable for 4% to 7% of greenhouse gas emissions worldwide. CONTEXT Codelco prepares to cut its so-called Scope 3 emissions, which are indirect emissions put out by its providers and the most tough to minimize. These contaminating inputs include dynamites, refractories and lubricants,...

Brazil's newly nominated head of the planned 2025 COP30 environment summit in the Amazonian city of Belem alerted on Tuesday that President Donald Trump's. decision to withdraw the United States from the Paris Arrangement. would cast a shadow over the talks. We are still examining President Trump's statements,. but there is no doubt they will have a substantial effect on. preparation for COP30, Ambassador Andre Correa do Lago told. press reporters on Tuesday quickly after he was named to the post. Trump withdrew the U.S. from the 2015 pact right after. taking workplace for a second non-consecutive term on Monday,....

Residents of the city of São Paulo, among Latin America's biggest and most builtup, have actually long fought for more green spaces. However, last year, the city announced plans that would do simply the reverse: take down thousands of trees to construct a tunnel and expand a garbage dump in some of its treeless areas. Protests took place. Last November, demonstrators took to the streets in São Mateus, a peripheral neighborhood in the east of São Paulo, to demonstration against a project to expand a garbage dump which would cut 10,000 trees. Structure work for a tunnel, in the southern...

Brazil's Senate approved a. wideranging energy costs on Thursday that establishes a. regulatory structure for offshore wind energy projects while. including unrelated changes promoting polluting energy. sources like coal and natural gas. Costs 576/21 sets rules for offshore wind energy, enabling. the federal government to auction maritime areas for wind farms,. an action considered vital for investors seeking to advance. wind energy projects. Brazil has significant overseas wind potential, with 244 GW. from over 100 suggested projects still in early phases. In a tradeoff, the text also mandates the contracting of. coal-fired thermoelectric plants in government auctions,. extending agreements for...