Carbon Emissions

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,...

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...

U.S. House lawmakers laid out plans on Sunday to phase out key clean energy tax credits, as well as slash billions in spending related to electric vehicles and renewable energy, fast-track gas exports and claw back unspent climate-related funds as part of the Republicans' attempt to pass a multi-trillion-dollar budget to carry out President Donald Trump's agenda. The House Committee on Energy and Commerce has drafted a proposal that will be voted on on Tuesday. It would generate $6.5 billion by repealing climate-related portions of the massive Inflation Reduction Act legislation of the Biden Administration. The bill would repeal important...

JP Morgan has strengthened its green finance advisory and offering in Europe by appointing a new division leader to support clients on renewable energy and green technologies. An internal memo viewed by us on Thursday stated that the Wall Street lender promoted Kai-Christian Nerger into the newly created position of head of green economic banking for Europe in its global corporate banking division. Nerger has worked at JP Morgan more than 10 year and will now lead a team that helps the bank's European customers reduce their carbon emission levels, as well as benefiting from the growth opportunities available in...

INEOS's owner, British billionaire Jim Ratcliffe, has urged the government to reduce the environmental costs businesses face, which he says, together with high energy prices, are driving away investment from the country. Energy-intensive companies in Britain, such as steelmakers, are struggling with the highest costs in Europe. INEOS said it faces a bill of 15 million pounds ($20 million) for its obligations under Britain’s Emissions Trading System. The ETS is a system that charges industrial entities and power plants for every ton of CO2 they emit, as part of broader efforts to reduce emissions and achieve climate targets. Ratcliffe said...

Biomas, an initiative for reforestation in Brazil backed by several major corporations, unveiled on Friday its first project. It aims to restore 1,200 ha (2,965 acres), of Brazil's Atlantic coast rainforest, with more than 70 native tree varieties. The project represents a major milestone for the company formed in 2022 by Vale Mines, Marfrig Meatpackers, Suzano Pulpmakers, Santander Brasil, Itau, and Rabobank. The initiative comes at a time when Brazil's carbon removal industry is growing, and major reforestation initiatives are already underway. Startups Mombak and Re.green offer credits to companies who want to offset their greenhouse gas emission. These two...

Four sources who are familiar with the notification said that the Trump administration terminated federal employees responsible for U.S. climate policy, climate aid and global climate policy as part of a reorganization at the State Department. Career employees at the Office of Global Change in the State Department’s Bureau of Oceans and International Environmental and Scientific Affairs played a leading role in U.S. negotiation under the United Nations Framework Convention on Climate Change. The office's officials also represented the United States in the International Civil Aviation Organization, the International Maritime Organization and their respective sectors of commercial aviation and shipping....

California Governor Gavin Newsom directed state officials in California to increase efforts to ensure reliable fuel supplies to the nation's largest auto market. This prompted oil companies to blame state policy for difficult business conditions, and high pump prices. Newsom's April 21 letter to California Energy Commission vice chair Siva Gunda was seen by us on Wednesday. This came just days after Valero Energy announced that it would permanently close or restructure the refinery in Benicia by April 2026. Benicia refinery represents about 9% state crude oil refining capability. Newsom wrote: "I am writing to ask you to intensify the...

Three people familiar with the plans of Brazil, which is hosting this year's United Nations Climate Summit, said that their main objective was to persuade Europe, China, and other developing countries to reduce greenhouse gas emissions to keep global temperatures well below 2 degrees Celsius. Sources said that the goal was set on Wednesday when President Luiz inacio Lula da So and U.N. Sec.-General Antonio Guterres convened 17 leaders from large and small economies to an online closed meeting to discuss stronger commitments to their 2035 emissions targets. Brazilian diplomats work closely with U.N. officials in order to encourage countries...

The U.S. Supreme Court appeared to be sympathetic to fuel producers' bid to challenge California's vehicle emission standards and electric cars in an air pollution case under federal law. This is a case that involves the Democratic-governed State's ability to combat greenhouse gases. The Justices heard arguments from a Valero Energy sub-division and groups representing the fuel industry in their appeal of a lower courts ruling that they 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 rules, separate from the federal government. Both conservative and...

The U.S. House of Representatives will vote next week on the Republican plan to repeal Biden's approval of California’s landmark plan that would end the sale of only gasoline vehicles by 2035. The office of House Majority leader Steve Scalise said that on Wednesday, lawmakers would vote to repeal the waiver given by the U.S. Environmental Protection Agency in December to California allowing it to mandate at minimum 80% electric cars by 2035. These rules have also been adopted by 11 other states. The question remains as to whether Congress has the power to revoke the waiver under the Congressional...

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...

Maruzen Petrochemical in Japan, a subsidiary of Cosmo Energy Holdings will close its ethylene plant in Chiba during the fiscal year 2026/27 and consolidate its production at Keiyo Ethylene - its joint venture with Sumitomo Chemical - the companies announced on Tuesday. The three companies released a joint statement saying that the move is intended to improve the utilization rate of Keiyo Ethylene. Keiyo Ethylene is owned by Maruzen and Sumitomo, respectively. Low operating rates have plagued Japanese ethylene plants due to a global oversupply caused by China's large-scale capacity expansions, as well as a declining domestic market. Energy transportation...

The French battery manufacturer Automotive Cells Company announced on Thursday that they welcomed the support of the European Union in the auto industry, but also expressed concern that the support would be too late. The European Commission released an action plan on Wednesday for the automotive industry to help them reach the target of zero carbon emissions for any cars or vans sold within the region by the year 2035. The money included 1.8 billion Euros ($1.94 billion), which was allocated to secure the supply chain for raw materials used in batteries. ACC, owned jointly by Stellantis Mercedes and TotalEnergies...

French automaker Renault is devoted to complying With tighter EU guidelines on CO2 emissions this year, it stated believes automakers pooling their emissions could compromise the European cars and truck industry. The EU substantially decreased its cap on automotive carbon dioxide emissions from Jan. 1, meaning at least one-fifth of all sales by the majority of cars and truck companies need to be EVs to prevent heavy fines. Business with lower electrical automobile sales can swimming pool their emissions with section leaders, nevertheless buying emissions credits from other makers to decrease their general averages and save them numerous countless euros...

Advisers to incoming U.S. President Donald Trump are advising he waive environmental reviews for federally moneyed vital minerals jobs to enhance domestic production of products utilized in electric lorries, electronics and weapons, according to a file seen . Implementation would show a significant shift in how Washington evaluations proposed mines on federal lands and aims to guarantee that projects receiving loans, grants or other federal government support are able to assist the U.S. cut reliance on China, the world's. largest miner and processor of lithium, cobalt and other. important minerals. The consultants, entrusted by Trump's transition group to develop. policy...

Japan wants renewable energy to account for approximately 50% of its electrical energy mix by fiscal year 2040 with nuclear power using up another 20%, according to a. draft of its revised standard energy policy, as it makes a tidy. energy push while meeting rising power need. As the world's second-largest importer of melted natural. gas and a major consumer of Middle Eastern oil, Japan and its. fundamental energy plans are drawing worldwide attention from oil, gas. and coal producers. Thermal power usage, particularly from inefficient. coal-fired power plants, is set to decrease to in between 30% and. 40% by...

TotalEnergies will develop an 0.3 gigawatt (GW) solar park in Saudi Arabia, while EDF Renewables will build 2 solar parks totalling 1.4 GW, as part of a series of offers announced on Tuesday throughout a see by French President Emmanuel Macron to Riyadh. The French companies participated in 25-year power purchase contracts with the Saudi Power Procurement Company for the jobs, which were granted on a build-own-operate model as part of the kingdom's fifth renewable tender round. Saudi Arabia is intending to build 130 GW of eco-friendly capability by 2030, up from less than 5 GW today, with the International...

Amazon.com Inc prepares to pilot a new carbonremoval product for data centers, which are at threat of getting worse emissions from expert system systems they power, a startup behind the deal said on Monday. In a twist, AI itself, from the start-up Orbital Products, is what created the carbon-filtering substance, its Chief Executive Jonathan Godwin stated. It resembles a sponge at the atomic level, Godwin informed Reuters. Each cavity in that sponge has a particular size opening that engages well with CO2, that doesn't communicate with other things. Prospective cost-savings are partially the draw. The new material amounts to an...