Carbon Emissions

General Motors announced on Tuesday that it will take a $1.6billion charge in the third-quarter as it reshapes the electric vehicle strategy after the federal incentive was scrapped, which is expected to reduce demand. GM's disclosure was one of the most clear indications that U.S. carmakers are scrambling in order to adjust their production plans to respond to a slowing EV market. Auto executives have warned of a sudden drop in battery car sales, which will eventually rebound, after the Trump Administration scrapped a federal tax credit of $7,500 for electric vehicles. The adoption rate of EVs is expected to...

The World Bank's executive directors, 19 of them, issued a statement last week expressing their support for its continued efforts to combat climate change. They did so in defiance of the United States, the largest shareholder and other countries. Sources familiar with the situation said that the executive directors of the U.S. and Russia as well as Kuwait, Saudi Arabia, and Japan, who are both negotiating deals with the U.S. on trade, abstained from signing the document. After a meeting with World Bank management the directors, who represent over 120 countries, released a statement highlighting their expectations that the bank...

Nestle, a food group, announced on Wednesday that it has withdrawn from the global alliance to reduce methane emissions. The alliance aims at reducing the impact of milk farming on global warming. In December 2023 the Dairy Methane Action Alliance will be launched. Members, including Danone, Kraft Heinz, and Starbucks, have committed to measure and report methane emissions in their dairy supply chain and to publish plans for reducing those emissions over time. Nestle didn't say why it pulled out of the Alliance, but it said that it would continue to work towards reducing greenhouse gases, including methane throughout its...

Nestle, a food group, announced on Wednesday that it has withdrawn from the global alliance to reduce methane emissions. The alliance aims at reducing the impact of milk farming on global climate change. In December 2023 the Dairy Methane Action Alliance, a group of companies including Danone, Kraft Heinz, and Starbucks, was formed. Members have committed to measure and report methane emissions in their dairy supply chain and to publish plans for reducing those emissions. Nestle didn't say why it pulled out of the Alliance, but it said that it would work towards reducing greenhouse gases, including methane throughout its...

By David Sherfinski Trump dismissed climate change last month as a "con-job"; now, his Department of Energy is telling its staff not to use language that contradicts the president's views about climate science. The Trump administration has taken a series of steps to ban, limit or dismiss climate change-related issues and phrases across the federal government. Jean Su, director of the energy justice program at Center for Biological Diversity (an advocacy group), said: "This is a big move for blanket censorship in science and on climate." When we erase these words, then we are actually erasing reports. We are erasing...

Interior Department officials said that the Trump administration is preparing to announce policies on Monday to increase coal production, in an effort to reverse the decline in the use of this fuel. In April, President Donald Trump signed executive orders that increased coal production. This was one of many actions he took to counter global efforts to reduce carbon emissions. According to the Energy Information Administration (EIA), coal-burning power plants will generate about 15% of U.S. electricty in 2024. This is down from 50% in 2000. Fracking and other drilling techniques have increased natural gas production. The growth of solar...

Tesla, a manufacturer of electric vehicles, urged the Trump Administration not to repeal the vehicle emission standards or the longstanding U.S. conclusion that greenhouse gas emissions are harmful to human health. Tesla stated in comments published on Thursday that the Environmental Protection Agency proposal to repeal standards would "give a pass to all engine and vehicle manufactures for measurement, control and reporting of GHG emission for any highway vehicle and engine." Earlier this year, a group of automakers including General Motors, Toyota, Volkswagen, and almost all others asked the EPA for a rollback on its aggressive vehicle emission limits, which...

Xi Jinping, the Chinese president, told the United Nations on Wednesday that his country planned to reduce greenhouse gas emissions by 7%-10% by 2035. He also called out "some" countries for opposing the global clean energy shift. Xi delivered a video message live from Beijing to a climate leaders summit hosted by U.N. secretary-general Antonio Guterres, announcing China’s national climate plan. The plan was expected be announced prior to the COP30 Climate Summit in Brazil in November. In addition to the goal of reducing emissions, Xi stated that China intends to increase its installed wind and solar capacity to more...

On Wednesday, United Nations Secretary General Antonio Guterres called on all parties to the Paris Climate Agreement to develop new climate plans that would achieve greater and faster reductions in emissions than what they have already committed to. Guterres hosts a climate leaders' summit Wednesday on the sidelines the U.N. General Assembly. He has asked the countries to announce new climate targets in order to generate momentum for the global COP30 Climate Negotiations in November in Brazil. The summit takes place a day after U.S. president Donald Trump used the UNGA address to call climate change a "con-job" and to...

Ed Miliband, Britain's Energy Minister, said that talk of an American-led retreat from climate action is overstated. He also stated that the economic arguments for net zero are strong enough to overcome domestic and international scepticism. Miliband spoke from New York Climate Week where speakers called on world leaders to put climate promises into actions, in the backdrop of U.S. president Donald Trump's agenda to boost fossil fuels and roll back pollution regulations, and to defund science and climate action. Not everyone is in favor of climate action He said via video link: "There are many people who say that...

Outokumpu, a Finnish steelmaker, said that at least a third have delayed or paused stainless steel orders due to U.S. tariffs up to 50%. More than half of the companies surveyed are also reevaluating their sourcing strategies. Outokumpu CEO Kati Ter Horst said that the current European Union import quotas were too high due to the slowing demand in the world. She expects the European Commission will announce measures to reduce imports of rival steel to protect domestic producers by October. She added that the measures would replace existing safeguards, which are due to expire next summer. They could even...

In a letter seen by, 102 Democratic members of the U.S. House of Representatives urged the Trump Administration to drop plans to repeal vehicle emissions rules. In a letter, led by Representative Doris Matsui, 102 members of Congress called on the Environmental Protection Agency (EPA) to abandon its plan to repeal all greenhouse-gas emission standards for heavy-duty, light-duty and medium-duty engines and vehicles. In a letter to the editor, the lawmakers stated that repealing vehicle pollution standards could hamstring the growing automotive industry by killing thousands of well-paying American. The EPA didn't immediately comment. If we turn away from clean...

Automakers formed alliances with electric vehicle companies to avoid heavy fines from the European Union for carbon emissions. Several legacy automakers could face fines, as the transition from ICEs to EVs has been slower than expected. As of Tuesday, here are the details on the regulations and alliances that will be in place by 2025. Initial EU fines were based on carbon emissions levels in 2025. The European Commission, under pressure from the automakers, allowed compliance in March based on average emissions between 2025 and 2027. All alliance agreements currently in existence, as identified by their pool managers, will expire...

Nicola Willis, New Zealand's Finance Minister, said that regional and bilateral trade relationships would continue to grow in the face of the U.S.-China Trade War. Small countries such as hers will have to adjust to a different reality and maintain their priorities. Willis stated in an interview with The New Zealand Herald on Thursday that New Zealand is acutely aware of geopolitical risks and economic challenges. However, her discussions this week at the World Bank and International Monetary Fund annual meetings showed the strength of international institutions as well as trade agreements among other countries. She said that New Zealand...

Ferrari unveiled the technology behind the first electric car it has produced, but announced on Thursday that hybrid and petrol vehicles will continue to be at the core of its line-up until 2030. Elettrica will be the name of the electric car that goes on sale in 2019. Ferrari unveiled the production-ready chassis of the Elettrica at an event held in its Maranello headquarters, located in northern Italy. The car base is equipped with a battery pack, electric motors and outer shell, but no wheels or exterior shell. The reveal of Ferrari's first electric car is a major milestone in...

China's Foreign Ministry said that the EU's climate chief's criticisms of China's climate pledges show "double standards" and "selective blindness", accusing them of slow action on their own climate targets. China pledged earlier this week to reduce greenhouse gas emissions between 7% and a 10% reduction by 2035 compared to their peak levels as part of the new targets for its nationally determined contributions. Wopke hoekstra, the European Union's climate commissioner, called the goal "clearly disappointed". The Chinese Foreign Ministry appeared to make a reference to this statement without directly addressing it. A day earlier Donald Trump, the U.S. 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...