Carbon & Power Markets News

Aug 05 - 'Extremely annoying': Siemens Energy ups pressure on wind division 

Siemens Energy cranked up the pressure on wind turbine division Siemens Gamesa on Wednesday, saying it was "extremely annoying" that it was forced to slash its profit outlook because of the Spanish-listed unit. The comments from CEO Christian Bruch highlight the problems around the arm's length relationship he inherited after Siemens Energy's spin-off from Siemens AG last year, handing him a majority in a business he effectively cannot control.

Aug 05 - Investors call for urgent action by steelmakers on carbon emissions  

Steelmakers need to take urgent action on producing less carbon in order to meet the Paris Agreement on climate change, investors managing $55 trillion in assets said on Wednesday. Emissions from steel production account for 9% of the global total and must fall 29% by 2030 and 91% by 2050 to meet the net zero scenario laid out by the International Energy Agency in May, the Institutional Investors Group on Climate Change said.

Aug 04 - Australia's Woodside raises Scarborough cost estimate to $12 bln 

Woodside Petroleum Ltd, Australia's top independent gas producer, said on Wednesday it had raised the cost estimate for its Scarborough project by 5% as it worked towards a final investment decision this year. Woodside has pinned its hopes on Scarborough, which is now expected to cost $12 billion, as it is the company's only near- term option to replace depleting output from its North West Shelf and Pluto gas fields.

Aug 04 - Indonesia sets August coal benchmark price 13.6% higher to decade-high 

Indonesia set its coal benchmark price at the highest in at least a decade in August, an official document published by its energy and minerals ministry late on Tuesday showed, as demand from China, Japan and South Korea grew. Indonesia set its August coal benchmark price at $130.99 per tonne, 13.6% higher than July.

Aug 03 - ADB, Citi, HSBC, Prudential hatch plan for Asian coal-fired closures - sources 

Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia's coal-fired power plants in order to lower the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which is being driven by the Asian Development Bank, offers a potentially workable model and early talks with Asian governments and multilateral banks are promising, the sources told Reuters.

Aug 03 - Two U.S. companies seek extension of Trump-era solar tariffs 

Two small U.S. solar manufacturers on Monday asked federal trade officials to extend tariffs on solar panel imports imposed by the Trump administration that have divided the fast-growing renewable energy sector. In a formal request to the U.S. International Trade Commission, Auxin Solar Inc and Suniva Inc said that an extension of the four-year tariffs was necessary for President Joe Biden to achieve his goal of transitioning the U.S. power sector to clean sources by 2035.

Aug 02 - Japan's ENEOS, France's Neoen eye CO2-free hydrogen supply chain in South Australia
Japan's ENEOS said Aug. 2 it has agreed with France's Neoen to consider developing a CO2-free hydrogen supply chain in Australia's South Australia state, under which the companies aim to transport hydrogen in the form of methylcyclohexane (MCH) to Japan.

Aug 02 - Mexico strikes pact with Canada's TC Energy for natural gas pipeline 

Mexico's state power utility has struck a deal with Canada's TC Energy Corp to develop a natural gas pipeline in the country's south and consolidate the firm's contracts in the central region, the utility said on Sunday. The pact appeared to mark a rare moment of agreement after months of dispute between energy companies and Mexico, which said such firms had benefited from contracts that put an unfair burden on taxpayers.

Aug 02 - No margin left': Siemens Gamesa ups wind turbine prices on raw materials 

Wind turbine maker Siemens Gamesa is charging higher prices, combing over contracts and hedging harder against rising raw materials costs to try to heave its business back to profit, executives said on Friday. The world's biggest maker of the huge offshore generators that feature prominently in global plans to cut carbon emissions has been grappling with high materials prices and logistical snarls that were exacerbated by the coronavirus pandemic.

Jul 30 - Japan's JERA maintains 'sufficient LNG stocks' at summer power demand
Japan's largest power generation company JERA has maintained "an appropriate level of LNG stocks" as of July 30 in the midst of the current summer demand and will ensure its sufficient inventories during the demand season, a company official said.

 Jul 30 - Enapter aims to disrupt H2 market with modular electrolyzers
Electrolyzer start-up Enapter has low-cost renewable hydrogen production in its sights that is cheaper than incumbent technologies, the company's head of strategy Thomas Chrometzka told S&P Global Platts July 29.

Jul 30 - Reform is 'indispensable,' EDF says after France puts off overhaul  

A thorough reform is vital if France's state-backed utility EDF is to retain its role as a major player beyond the short term, its CEO said on Thursday after the government delayed an ambitious overhaul. Shares in EDF fell more than 4% as uncertainty over the reform overshadowed strong earnings for the first half of the year.

Jul 30 - U.S. coal gets boost from higher gas prices: Kemp  

Rising gas prices are encouraging U.S. electricity generators to raise output from coal-fired units slightly this summer, providing a temporary reprieve for the beleaguered coal mining sector. U.S. coal production, which was already in long-term decline, slumped during the first wave of coronavirus infections and lockdowns, but has been trending upward since the middle of last year as the economy has recovered.

Jul 29 - France shelving landmark EDF overhaul for now  

The French government will not move ahead with a restructuring of power group EDF in the near future, unions and sources close to the matter said on Wednesday, making it all but impossible to pass a reform bill before President Emmanuel Macron's term ends in 2022. The reform, involving a broad restructuring of the group and the mechanism through which it sells nuclear power, was supposed to help debt-laden EDF flourish as it competes with rivals investing in clean energy.

Jul 29 - TC Energy to switch to green power to run N. American energy pipelines  

Canadian pipeline operator TC Energy Corp could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of U.S. and Canadian oil and gas pipelines. Calgary-based TC Energy, which ships oil and gas through nearly 100,000 kilometres (62,140 miles) of pipelines, one of the biggest networks in North America, has been encouraged by a better-than-expected response to a request in April for information on wind power for projects in the United States.

Jul 28 - Climate change-fueled air turbulence set to hike jet fuel demand: scientist
Climate change is expected to drive an increase in the severity of air turbulence which could boost demand for jet fuel in the aviation sector as well as sustainable aviation fuels and carbon credits, an atmospheric scientist said July 28.

Jul 28 - Alpiq, EW Hoefe and Socar plan Switzerland's largest green hydrogen plant
Swiss energy company Alpiq, utility EW Hoefe and Socar are planning to build a 10-MW electrolyzer to produce renewable hydrogen in Freienbach, Switzerland, Alpiq said July 28.

Jul 28 - EU power emissions fell in first half of 2021 - report  

Carbon emissions from power generation in the European Union dropped in the first half of 2021 despite electricity demand returning to levels seen before the pandemic, a report by independent climate think tank Ember said on Wednesday. The EU is on course for the largest annual increase in electricity demand since the aftermath of the financial crisis in 2010, while two-thirds of electricity production in the first half of 2021 came from clean energy sources, the report said.

Jul 28 - Rising global energy use complicates path to net zero: Kemp  

Global energy consumption is likely to increase by between 50% and 100% from present levels by 2050, underscoring how challenging it will be to satisfy rising energy demand while simultaneously reducing net emissions to zero. Primary energy consumption climbed to 582 exajoules (EJ) in 2019, the last year before the pandemic, up from 338 EJ in 1989, a compound annual increase of 1.8% over three decades, according to data from BP ("Statistical review of world energy", 2021).

Jul 27 - Strained G20 climate talks could yet deliver progress on coal  

Climate campaigners voiced frustration a meeting of ministers from the world's richest countries failed to deliver a deal to phase out coal, but said pledges in the final communique gave hope for a breakthrough in time for U.N. talks later this year. The communique was only released at nearly midnight on Friday, hours after the energy and environment ministers finished tense talks, and the full documents were not available until Sunday.

Jul 27 - Texas power grid sees record-breaking demand during heatwave  

The Texas power grid operator on Monday forecast demand would reach a record high over the next week as homes and businesses crank up their air conditioners to escape a heatwave settling over the state. The United States has been beset by several extreme weather events this year, including February's freeze in Texas that knocked out power to millions, and record heat in the Pacific Northwest earlier this summer.

Jul 26 - Air Products to decarbonize global truck fleet with Cummins hydrogen fuel cells
Chemicals company and leading hydrogen producer Air Products plans to decarbonize its fleet of around 2,000 trucks with hydrogen fuel cell technology from Cummins, starting from 2022, the companies said July 26.

 Jul 26 - G20 fails to agree on climate goals in communique  

Energy and environment ministers from the Group of 20 rich nations have failed to agree on the wording of key climate change commitments in their final communique, Italy's Ecological Transition Minister Roberto Cingolani said on Friday. The G20 meeting was seen as a decisive step ahead of United Nations climate talks, known as COP 26, which take place in 100 days' time in Glasgow in November.

Jul 26 - China says EU's planned carbon border tax violates trade principles  

China said on Monday the European Union's plan to impose the world's first carbon border tax will expand climate issues into trade in violation of international principles and hurt prospects for economic growth. The European Commission this month outlined plans to impose a Carbon Border Adjustment Mechanism (CBAM), or CO2 tariff, on polluting goods from 2026, forcing some companies importing into the European Union to pay carbon costs at the border on carbon-intensive products such as steel.

Jul 23 - Australia first liquid hydrogen shipment to Japan delayed to Oct-Mar
The carrier had previously been expected in July-August.

Jul 23 - Environmental groups protest latest Driftwood gas pipeline proposal at FERC
In their July 21 protest, Sierra Club and Healthy Gulf argued Driftwood Pipeline's single precedent agreement must be made public.

Jul 23 - S Korea's Hyundai Oilbank to sell oil storage terminal stake to fund green energy projects
The company's board has approved a plan to divest 90% interest in Hyundai Oil Terminal to J& Private Equity Fund, a company official said.

Jul 23 - Norway's Equinor sees role for blue hydrogen beyond 2050 in net-zero CO2 world
Norway's state-controlled energy company Equinor is confident there is a long-term role for hydrogen produced from fossil fuels with carbon capture and storage, the company's senior vice president for low-carbon solutions Grete Tveit told S&P Global Platts.

Jul 23 - RWE, Shell, Equinor plan 300 MW green hydrogen project in German North Sea
The project aims to demonstrate that offshore-based hydrogen production enables an efficient, cost-effective and sustainable way to produce green hydrogen.

Jul 23 - UK government misses latest hydrogen strategy deadline
Secretary of State for Business and Energy Kwasi Kwarteng said July 21 that the strategy would be published in the next few weeks.

Jul 23 - G20 agrees statement on environment, struggles over climate progress  

Environment and energy ministers from the Group of 20 rich nations made little progress on Thursday on how to reach climate goals, officials said, with a cluster of countries resisting firm commitments. Near the sumptuous royal palace in Naples where the meeting took place, thousands of flag-waving marchers protested against what they said was a lack of action on global warming. 

Jul 23 - From coal to cars, Chinese floods tangle supply chains  

The floods drenching central China and submerging swathes of a major economic and transport hub are threatening supply chains for goods ranging from cars and electronics to pigs, peanuts and coal. Power had been partly restored and some trains and flights were running on Thursday but analysts said disruption could last for several days, pushing up prices and slowing business across densely populated Henan and neighbouring provinces.

Jul 22 - Floods wreck towns, but Europe's wind power goals tangled in red tape  

As parts of Europe reel from devastating flooding and Germany's Chancellor Angela Merkel says governments must redouble their efforts to tackle the impact of climate change, developers and governments are racing to capture green power investment. They are running into local opposition, bureaucratic red tape and legal tangles in the permitting process - to the point where the EU is veering off track for its emissions-cutting goals, wind industry data show.

Jul 22 - Helpless bystander? Siemens Energy's $5.9 billion wind power problem  

Siemens Gamesa's profit warning last week served as a painful reminder for Christian Bruch, CEO of parent Siemens Energy, that there's a big difference between owning a majority stake in an asset and having full control. Siemens Energy holds 67% in Spanish-listed Siemens Gamesa, the world's largest maker of offshore wind turbines, a stake it was handed by former parent Siemens as part of a spin-off last year.

Jul 21 - Bunker supplier Trefoil launches CO2 compensation service after EU climate proposal
- Carbon offset price a small fraction of bunker cost
- Shipping faces inclusion in EU emissions trading system

Jul 21 - Australia's Woodside signs agreement with Japanese firms to study ammonia supply chain
Australia's Woodside Energy Ltd and several Japanese companies including state-run Japan Oil, Gas and Metals National Corp, have signed an agreement for a feasibility study to develop a supply chain for ammonia from Australia to Japan, they said in a joint statement July 20.

Jul 21 - Rich nations 'must consign coal power to history' - UK COP26 president  

Climate change talks this year aimed at keeping global warming in check need to consign coal power to history, the British president of the upcoming United Nations' conference said on Wednesday. Britain will host the next U.N. climate conference, called COP26, in November in Glasgow, Scotland.

Jul 21 - Pandemic recovery to push emissions to all-time high - IEA  

The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a report on Tuesday. "We estimate that full and timely implementation of the economic recovery measures announced to date would result in CO2 emissions climbing to record levels in 2023, continuing to rise thereafter," it said.

Jul 20 - US reducing power sector CO2 emissions while growing economy: study
The US power industry has been making steady progress reducing greenhouse gas emissions, with power sector carbon dioxide emissions decreasing about 10% between 2019 and 2020 because of a mixture of pandemic impacts, energy efficiency and fuel switching away from coal, a July 20 report said.

Jul 20 - Italy's Saipem plans Adriatic offshore green hydrogen site
- SUISO project to combine wind, sun, wave energy
- Technology could convert end-of-life oil, gas assets

Jul 20 - UK needs to triple low carbon flexible capacity by 2030: BEIS
- Plan for 'decisive shift' from unabated fossils
- Funds for long duration storage competition

Jul 20 - Global CO2 emissions set to surge to all-time high in 2023: IEA
- Public and private capital spending falling short of climate goals
- All key sectors receiving inadequate attention from policymakers

Jul 20 - UK environmental committee launches inquiry into curbing aviation, shipping emissions
- To consider how UK can hit net-zero pathway for aviation, shipping
- Government already planning new policy to curb transport emissions

Jul 20 - Uniper explores green ammonia offtake from Oman's Hyport Duqm hydrogen project
- Uniper to negotiate exclusive ammonia offtake
- 250-500 MW green H2 plant online in 2026

Jul 20 - Britain eyes new body to run its energy systems and meet climate targets  

Britain’s government plans to create a new energy system operator to help the country meet its net zero emissions target, which could replace the role of National Grid, consultation documents published on Tuesday showed. Britain in 2019 became the first member of the G7 group of rich countries to set a net zero target for 2050, which will require a huge increase in renewable electricity and weaning homes off fossil fuels for heating. 

Jul 20 - China's new carbon emissions scheme is big, but ineffective: Russell  

China's national carbon emissions trading scheme has launched amid fanfare that it will be the biggest market of its kind in the world. Should we believe, or beware the hype? On the surface, the new and much-delayed system looks impressive, covering some 2,000 power plants responsible for more than 4 billion tonnes of carbon emissions.

Jul 19 - China's top economic planner to support overseas green bonds to meet decarbonization goals
The move highlights China's strategy to tap into global capital markets to facilitate its green technology and infrastructure development, as well as support its transition to a low-carbon economy.

Jul 19 - OPEC+ green lights deal to hike oil output in Saudi-UAE compromise
- Saudi Arabia, Russia, UAE, Iraq, Kuwait baselines raised from May 2022
- OPEC+ supply management pact extended until end-2022

Jul 19 - UK's National Grid to lose electricity role to independent body - The Times  

The British government is preparing to issue plans to strip UK-listed grid operator National Grid NG.L of its responsibility for running the country's electricity system in favour of a new independent body, The Times newspaper reported on Monday. The Department for Business, Energy and Industrial Strategy is planning to unveil a consultation outlining the creation of a "Future System Operator", which would manage the country's electricity system, alongside plans for a new governance framework for energy regulations, according to the newspaper.

Jul 19 - Norway's Equinor bids in Scottish offshore wind lease round  

Equinor said on Monday it submitted a bid for offshore floating wind power project in Scotland's leasing round as the Norwegian energy firm continues to develop its North Sea offshore wind cluster and deepen its presence across the UK. The company will meet fierce competition for leases, with the Scottish programme attracting interest from offshore wind developers and oil producers seeking to increase their renewable power portfolios.

Jul 16 - EU forces pace on carbon cuts, challenges others to follow  

The European Union is using its heft as a wealthy trade bloc of half a billion consumers to set the global pace of climate change action, challenging others to match the ambitions of its latest carbon cutting plans. The question now is whether the EU gambit becomes an established benchmark upon which investors and sectors like the auto industry set transition strategies and how big emitters like the United States and China respond ahead of UN climate talks later this year.

Jul 16 - China's national carbon emission trading opens at 48 yuan/T - Chinese media  

China's long-awaited national carbon emission trading scheme (ETS) opened at 48 yuan ($7.42) per tonne on Friday, according to reports from Chinese media. The establishment of a nationwide trading scheme was first pledged by President Xi Jinping ahead of the signing of the Paris climate accord at the end of 2015. There was a "soft launch" of the scheme in late 2017, but no transactions took place, and plans for a full launch were put back several times before it finally opened for trading at 9:30 a.m. (0130 GMT).

Jul 15 - Volkswagen Group to use more dual-fueled LNG ships to aid decarbonization goals
It will also be possible to retrofit two of the new ships with battery cells to achieve further reduction in fuel consumption, the company said, adding that all four LNG ships will have shore power connections, which means they can eliminate all local emissions in ports providing this facility.

Jul 15 - Maersk CEO backs EU's Fit for 55 package for shipping
The International Maritime Organization has adopted measures to reduce a ship's carbon intensity, along with existing targets for 2030 and 2050, but some industry players are concerned the body has not gone far enough.

Jul 15 - UAE $1 bil green ammonia project to start in 2024; targets Europe, US markets
The company plans to target regional and international markets, mainly Europe and the United States, Marar said.

Jul 15 - Hydrogen investment totals $500 billion to 2030: Hydrogen Council

Of the newly planned investment, over 80% of new projects are targeted for Europe, although other regions also are demonstrating a rapid increase in project announcements, the council, which authored the 'Hydrogen Insights' report in partnership with McKinsey, said.

Jul 15 - EU launches big climate plan for "our children and grandchildren"  

European Union policymakers on Wednesday unveiled their most ambitious plan yet to tackle climate change, aiming to turn green goals into concrete action this decade and set an example for the world's other big economies to follow. The European Commission, the EU executive body, set out in painstaking detail how the bloc's 27 countries can meet their collective goal to reduce net greenhouse gas emissions by 55% from 1990 levels by 2030 - a step towards "net zero" emissions by 2050.

Jul 15 - Electricity demand rebound will require more fossil fuel generation - IEA  

Global electricity demand is growing faster than renewable energy capacity can be rolled out and will require more power to be generated from the burning of fossil fuels, the International Energy Agency (IEA) said in a report on Thursday. After falling by about 1% in 2020 when the COVID-19 pandemic curbed industrial activity across the world, power consumption is set to grow by close to 5% in 2021 and by 4% in 2022 as economies recover, the IEA said in the mid-2021 edition of its Electricity Market Report.

Jul 14 - Australia Origin Energy looks for bigger role in renewable hydrogen
These projects are still in the early stages - feasibility stage or pre-FEED (front-end engineering design), the company spokesperson added.

Jul 14 - Iran's summer of power cuts could be worst yet with new capacity on hold
Iran, despite being OPEC's fourth-biggest crude oil producer, faces an unprecedented summer of electricity cuts as power plant disruptions and a lack of investment in new capacity leave output far below demand.

Jul 14 - EC to tighten carbon market supply by 4.2%/year under 'Fit for 55' legislation
The annual carbon caps under the EU Emissions Trading System will tighten supply of carbon allowances by 4.2% per year out to 2030, according to draft legislation unveiled by the European Commission July 14.

Jul 14 - Limetree Bay refinery files for bankruptcy ahead of DOJ environmental complaint
Limetree Bay filed for Chapter 11 bankruptcy in the United States Bankruptcy Court of Southern Texas, as it looks to evaluate options for its 176,400 b/d St. Croix, US Virgin Islands, refinery, including its sale, the company said in a statement.

Jul 14 - EC unveils broad roadmap for cutting greenhouse gas emissions by 55% by 2030

The European Commission on July 14 unveiled one of its most ambitious packages of legislative proposals ever, publishing plans for new legislation across numerous sectors designed to achieve its target of a 55% cut in greenhouse gas emissions by 2030.

Jul 14 - Europe to unveil sweeping climate change policy blueprint  

The European Union will on Wednesday unveil its most ambitious plan yet to tackle climate change, aiming to pull ahead in the race among the world's biggest economies to turn far-off green goals into concrete action this decade. The European Commission, which drafts EU policies, will set out in painstaking detail how the bloc's 27 countries can meet their collective goal to net reduce greenhouse gas emissions by 55% from 1990 levels by 2030.

Jul 14 - China plans July launch of national emissions trade scheme  

China's long-awaited national carbon emissions trading scheme (ETS) will be formally launched very soon this month, the environment ministry said on Wednesday, without giving a date. The scheme has been repeatedly delayed, partly over concerns about the transparency of emissions data, with a case exposed this month of data falsified by one power firm.

Jul 13 - SWISS buys Neste SAF amid push for decarbonization
This delivery of SAF is sufficient to fuel more than 175 short-haul flights and will be fueled at Zurich Airport via the conventional hydrant system, the joint statement said.

Jul 13 - EU plans new social fund to shield citizens from carbon costs - draft  

The European Commission will on Wednesday propose a fund to support vulnerable households if its plan to expand carbon pricing to transport and buildings results in higher fuel bills, according to a draft document seen by Reuters. The EU's executive Commission is putting the finishing touches to a bumper package of 12 climate policies it will propose on Wednesday. 

Jul 13 - Shell to join clean hydrogen project in Norway  

Shell will join a project in Norway to produce hydrogen from natural gas while capturing the emissions, Aker Clean Hydrogen (ACH) said on Monday. Countries across Europe are looking at ways to produce emissions-free hydrogen to help reduce carbon emissions and avert global warming.

Jul 12 - Industrial partnership to study Normandy carbon capture and storage
A first phase under a Memorandum of Understanding would seek to reduce CO2 emissions in the Axe Seine/Normandy area by three million mt per year by 2030, the companies said.

Jul 12 - Shell agrees five-year deal with PetroChina for supply of carbon-neutral LNG

The carbon credits used to offset life-cycle CO2e emissions generated from the cargo delivered on July 12 come from Shell's global portfolio of emission reduction projects, it said.

Jul 12 - European Energy Exchange launches zero carbon freight index
Price information is taken from the highly liquid EEX Dry Freight FFA market which is then combined with EEX EUA Futures to create a daily Zero Carbon FFA rate which reflects a 100% carbon reduction, the bourse said.

Jul 12 - Europe's climate masterplan aims to slash emissions within a decade  

The European Union is set to take the lead in climate policy action among the world's biggest greenhouse gas emitters this week, with a raft of ambitious plans designed to cut emissions drastically over the next decade. The policies, if approved, would put the bloc - the world's third-largest economy - on track for its goal of reducing planet-warming emissions 55% by 2030, from 1990 levels.

Jul 12 - G20 recognizes carbon pricing as climate change tool for first time  

G20 finance leaders recognized carbon pricing as a potential tool to address climate change for the first time in an official communique on Saturday, taking a tentative step towards promoting the idea and coordinating carbon reduction policies. The move marked a massive shift from the previous four years when former U.S. President Donald Trump's administration routinely opposed the mention of climate change as a global risk in such international statements.

Jul 09 - Europe's carbon push stokes backlash fears 

A European Union plan to extend carbon pricing to the fuel used in cars and to heat homes is facing a wall of early resistance from countries and lawmakers fearing a public pushback unless backers find ways to compensate those worst hit. According to leaked drafts, the scheme would set up an Emissions Trading Scheme (ETS) for transport and heating, creating a market price for carbon – a price that fuel suppliers are likely to pass on to Europe's half a billion consumers in the form of higher bills. 

Jul 09 - Renewables surged in 2020 but world not yet on track for climate goals, BP says 

Wind and solar power capacity expanded rapidly in 2020 while global energy demand cratered because of the pandemic, yet this did not yet reflect a "decisive shift" towards meeting U.N.-backed climate goals, BP said in its annual energy review. Last year witnessed the biggest fall in carbon emissions in more than 75 years, putting the world closer to the path needed to hit a target of keeping global warming below 2 degrees Celsius this century, BP's 2020 Statistical Review said.

Jul 08 - Solarwatt flexes muscles in home energy storage fight with Shell, Tesla 

Germany's Solarwatt, backed by BMW's billionaire shareholder Stefan Quandt, plans to launch a small module that lets homeowners link rooftop solar panels to power storage batteries and electric vehicles to cut costs. The wallbox allows home owners to control when and how much home-produced photovoltaics (PV) power they store, use to charge their electric vehicles (EVs), or sell to the grid.

Jul 08 - Robust China coal demand amid Australia import ban fuels price rally: Russell 

Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG), but enjoying strong gains amid rising demand. Both thermal coal, used in power plants, and coking coal, used to make steel, have rallied strongly in recent months. And in both cases the driver has largely been China, the world's biggest producer, importer and consumer of the fuel.

Jul 07 - First delivery of GEO futures sees 21,000 offsets transferred at the start of July: CME
Development of forward market for carbon credits has been obstructed so far by a bullish price trend in the spot market.

Jul 07 - Two UAE firms in talks to build green ammonia facility powered by 2 GW solar plant
Project is second green ammonia facility expected to be built in KIZAD.

Jul 07 - KPI OceanConnect completes 1st carbon-neutral fuel supply to aid sustainable shipping
The voluntary carbon units were derived from a wind farm in Texas and verified by Verra Registry, KPI OceanConnect said in a statement on July 6.

Jul 07 - EU bets on energy savings, greener buildings to meet climate target - draft 

The European Union will require countries to renovate energy-guzzling buildings faster and meet tougher targets to save energy as part of its drive to meet climate change goals, according to a draft document seen by Reuters. Buildings produce more than a third of EU CO2 emissions and account for 40% of the bloc's energy consumption, making the sector a key threat to Europe's plan to reduce planet-warming emissions.

Jul 07 - Portugal's EDP says headquarters searched in tax investigation 

Portugal's largest utility EDP on Tuesday said its headquarters had been searched as part of an investigation into alleged tax fraud related to the multibillion-euro sale of six dams to French company Engie  In December 2019 EDP agreed to sell six hydroelectric power plants in the Douro basin to an international consortium led by Engie for 2.2 billion euros ($2.60 billion). The sale process was concluded a year later.

Jul 06 - Asset owners managing $6 trln call for global carbon price 

Investors managing more than $6 trillion in assets on Tuesday called for a co-ordinated global price on carbon and said emissions costs would need to almost treble by 2030 to reach the world's climate goals. The call by the The Net Zero Asset Owner Alliance, whose 43 members include some of the world's biggest pension schemes and insurers, comes ahead of the next round of global climate talks in November.

Jul 06 - Chances for EDF reform by end of Macron's term diminishing -sources 

The pathway for France to restructure power group EDF before the 2022 presidential election has narrowed dramatically with only a tiny legislative window left and key backers reducing efforts to get the reform done, five people familiar with the process said. If the reform is not launched before the vote in April next year, that will disappoint EDF shareholders as well as investors more widely, for whom it was an emblem of the business-friendly changes President Emmanuel Macron promised early in his term.

Jul 05 - Impact of nuclear energy needs more study before getting green label, EU told 

The European Union should do more research on the potential harm caused by nuclear power before deciding whether to label it as a sustainable investment, one of the two expert committees tasked with assessing the fuel's green credentials said on Friday. Brussels is mulling a decision on whether to include nuclear energy in its sustainable finance taxonomy, a list of economic activities that will from next year define which can be labelled as green investments.

Jul 05 - Shell opens 10 MW German hydrogen electrolyser to boost green fuel output 

Royal Dutch Shell on Friday launched Europe's biggest hydrogen electrolysis plant at the Wesseling site of its Rheinland refinery after two years of construction, as it expands further into alternative energies. The Refhyne plant, with a 10 megawatt (MW) capacity, will produce green fuels as part of a European Union-funded consortium which is already setting its sights on a 100 MW facility at the site near Cologne.

Jul 02 - EBRD stops investing in upstream oil and gas to align with Paris goals 

The European Bank for Reconstruction and Development (EBRD) will stop investing in upstream oil and gas projects as part of plans to align its activities with the goals of the Paris Agreement on climate change by the end of 2022, it said on Thursday. The lender's board of governors approved the decision to align with the Paris accord during a meeting on its 30th anniversary. EBRD Managing Director Harry Boyd-Carpenter told Reuters this meant the bank was ceasing investment in oil and gas exploration and production. 

Jul 02 - Countries with new fossil fuel projects should zero out emissions -U.S. climate envoy 

Countries developing new oil, gas and coal projects should make sure they come with technology that can reduce the emissions to zero, John Kerry, the U.S. special presidential envoy for climate, told reporters on Thursday. "It's a real challenge and nobody can duck it," Kerry said in a news conference. "There's an incumbent responsibility on any country that says it's going to have a new project to make sure that there's no emissions coming out of it."

Jul 01 - U.S. natgas companies put hydrogen to the test 

At least two dozen U.S. energy firms, including Dominion Energy Inc and Sempra Energy, have started producing hydrogen or testing its viability in natural gas pipes to take advantage of existing infrastructure as the world prioritizes lower-carbon fuels. Nations worldwide are trying to reach net-zero carbon emissions by 2050, but that will rely heavily on technology - like hydrogen - that is in developmental stages. Utilities have a potential advantage if they find that clean-burning hydrogen can be successfully transported in existing gas pipes and power plants.

Jul 01 - Biden climate adviser says clean electricity standard needed in infrastructure bill 

A clean electricity standard, or CES, and tax credits for renewable energy are "bottom lines" needed in a second infrastructure package that could be passed this year, Gina McCarthy, the White House climate adviser, said on Wednesday. Her boss, President Joe Biden, has sought to reassure environmental and progressive groups that he will include key climate policy measures in a second infrastructure package that could be passed on a party line vote through budget reconciliation.

Jun 30 - World set to miss climate targets without negative emissions: UK coalition
The world will miss agreed climate protection targets without the deployment of large-scale negative emissions solutions by 2025, a coalition of UK industrial companies and investors said June 30.

Jun 30 - Alfa Laval, Wallenius partner to develop wind propulsion for ships
The AlfaWall Oceanbird solution could reduce emissions by 90% on the largest ocean-going vessels, the statement said.

Jun 30 - Net zero goals need revival of 'forgotten giant' hydropower, IEA says 

Low-carbon hydropower capacity is vital for a faster integration of wind and solar power, but its growth is set to slow by 23% this decade without a sweeping policy and investment push, the International Energy Agency (IEA) said on Wednesday. "Hydropower is the forgotten giant of clean electricity, and it needs to be put squarely back on the energy and climate agenda if countries are serious about meeting their net zero goals," said IEA Executive Director Fatih Birol in a statement.

Jun 30 - U.S. natgas producers hope customers will pay more for 'green gas' 

U.S. natural gas producers hope climate-conscious electric utilities and gas exporters will pay a premium for what they say is "greener gas" that has been certified as coming from low-emission operations or from renewable sources such as landfills. EQT Corp, Chesapeake Energy and liquefied natural gas firms Cheniere Energy and NextDecade Corp are among the companies considering low-carbon certifications from groups such as Denver-based Project Canary. Gas certified as "responsibly produced" and contributing less emissions could get up to 5% above market prices, or up to 15-cents per thousand cubic feet (mcf), proponents say.

Jun 29 - Financial players gravitating to voluntary carbon finance to offset energy transition risk: sources

Jun 29 - Saudi Arabia, UAE vying for hydrogen exports as oil output capacity expands

Jun 29 - Old, small and CO2-intense: why Canada's highest-carbon oil sands sites keep pumping 

In the shadow of Canada's mega oil sands projects, smaller, technologically outdated facilities produce up to three times more emissions per barrel than the already high sector average- and rising oil prices have given them a new lease of life. These projects present another challenge to Canada's goal to cut emissions by 40-45% by 2030. With oil prices near 2-1/2-year highs and dim prospects for building new projects in a world heading toward net zero emissions, operators are aiming to pump as much as they can from existing facilities - including from the most carbon-intense sites.

Jun 29 - When do electric vehicles become cleaner than gasoline cars? 

You glide silently out of the Tesla showroom in your sleek new electric Model 3, satisfied you're looking great and doing your bit for the planet. But keep going - you'll have to drive another 13,500 miles (21,725 km) before you're doing less harm to the environment than a gas-guzzling saloon.

Jun 28 - EU Council green lights European climate law in net-zero policy push

Jun 28 - EU should make hydrogen a central pillar of 2030 emissions laws: trade association

Jun 28 - Glencore raises 2035 emissions reductions target after fossil fuel review

Jun 28 - EU drafts plan to toughen carbon market - report 

The European Union is planning to toughen its carbon market to cut emissions faster and put a price on pollution in new sectors, Bloomberg News reported on Sunday. The EU's emissions trading system (ETS) is the bloc's central climate policy, forcing power plants, factories and airlines running European flights to buy permits when they emit CO2.

Jun 28 - China state planner says expects coal supply crunch to ease in July 

China's state planner said that it expects a coal supply crunch to ease and coal prices to fall in July, according to a report from the official Xinhua news agency on Sunday. "With the growth of hydropower and solar power generation in the summer, as well as the increase in coal production and imports, the contradiction between coal supply and demand will tend to ease," said the National Development and Reform Commission, according to the report.

Jun 25 - US Supreme Court reverses lower court's Small Refinery Exemption decision
The price of complying with the US Environmental Protection Agency's Renewable Fuel Standard fell early June 25 after the US Supreme Court reversed a lower court decision, allowing small refiners to apply for an exemption after a lapse in application.

Jun 25 - NYMEX product prices slide after high court decision prompts RINs selloff
US refined product futures settled lower June 25 on the heels of a US Supreme Court decision to allow small refiners to apply for exemptions from the US Environmental Protection Agency's Renewable Fuel Standard after lapses in application.

Jun 25 - Gas infrastructure across Europe leaking planet-warming methane - video footage 

The potent greenhouse gas methane is spewing out of natural gas infrastructure across the European Union because of leaks and venting, video footage made available to Reuters shows. Using a 100,000 euro ($119,000) infrared camera, non-profit Clean Air Task Force (CATF) found methane seeping into the atmosphere at 123 oil and gas sites in Austria, Czech Republic, Germany, Hungary, Italy, Poland and Romania this year.

Jun 25 - Offshore wind energy transforms foes into friends 

Potent demand for offshore wind power has turned old industry enemies into allies as energy majors associated with fossil fuels team up with utilities, the chief executive of global wind power group Iberdrola told Reuters. Planting turbines twice the height of the Statue of Liberty off the world's windiest coastlines is integral to a global drive to wean economies off fossil fuels and slow potentially catastrophic climate change.

Jun 24 - Mexico readies constitutional amendments in power sector after election
The Mexican Federal government will present an initiative to Congress to modify the constitution to restrict participation of private companies in the electricity market, President Andres Manuel Lopez Obrador said June 15 in his daily morning conference.

Jun 24 - Middle East companies look at low-carbon projects
Abu Dhabi National Oil Co. will partner with Abu Dhabi-based chemical company Fertiglobe to develop its first blue ammonia facility with a capacity of 1 million mt/year, as the energy producer seeks to attract investments in low-carbon products, ADNOC said in a statement on June 22.

Jun 24 - UK CCS developer Storegga begins work on direct CO2 capture facility

UK-based Storegga has begun work together with Canada's Carbon Engineering on a facility in Scotland that will be able to permanently remove 500,000-1 million mt/year of carbon dioxide from the atmosphere, the companies said June 24.

Jun 24 - EDF calls for funding legislation for new UK nuclear power plant 

France's EDF called on the British government to deliver the legislation that would underpin the financing of a new nuclear plant, Sizewell C, saying it was now essential. Simone Rossi, the UK head of EDF, said in an interview at the Reuters Events: Global Energy Transition conference, that lots of progress had been made on multiple fronts but the legislation underpinning the new financing scheme was now needed. 

Jun 24 - U.S. solar developers see opportunity in America's post-industrial lands 

New solar and wind power installations are sprouting up and giving new purpose to idle degraded spaces across the country, from shuttered Appalachian coal mines to former phosphate projects in Florida and landfills in New England. The trend is likely to accelerate as President Joe Biden's administration looks to expand renewable energy to fight climate change.

Jun 23 - Greener oil or green industry? Gridlock puts Norway in a bind 

Norway's oil and gas industry is counting on renewable power from hydro plants to cut emissions from its offshore platforms but rival demand from the green economy is putting a spanner in the works. The decision to keep investing in new oil and gas projects flies in the face of growing global pressure to shift away from fossil fuels and Norway's own reputation as a pro-green economy with more electric cars per capita than any other country and a reliance on renewable hydropower for virtually all of its electricity.

Jun 23 - Falling renewables costs undercut new and some existing coal plants - study 

The cost of renewable energy sources is undercutting that of new and some existing coal-fired power plants, a report by the International Renewable Energy Agency (IRENA) showed on Tuesday. Due to cheaper renewable energy, up to 800 gigawatts (GW) of existing coal-fired capacity could be replaced by new renewables capacity, which would save up to $32 billion a year and reduce carbon dioxide emissions by up to 3 gigatonnes.

Jun 22 - CME Group to launch nature-based global emission offset futures 

U.S. exchange operator CME Group will launch a nature-based global emissions offset futures contract on Aug. 1 to help bring more transparency to the growing global voluntary carbon offset market, it said on Monday. Nature-based offsets can be generated through schemes such as planting trees, agriculture projects or protecting forests that would otherwise be destroyed.

Jun 22 - Big Oil's move to offshore wind risks inflating seabed prices - Orsted 

The world's largest offshore wind developer Orsted is concerned that Big Oil's eagerness to harness wind at sea could push up prices for seabed leases, making the technology less competitive, its chief executive told Reuters. European oil firms including Total, BP, Equinor and Shell have all outlined plans to speed up investments in renewables, including offshore wind, as they look to reduce their reliance on oil and gas to satisfy investors and governments which are demanding reductions in emissions.

Jun 21 - Global carbon price floor would limit global warming - IMF staff 

An agreement by some or all of the Group of 20 countries on a flexible global carbon price floor would help limit global warning to 1.5 to 2 degrees Celsius, the International Monetary Fund said in a new staff paper released Friday. Such an agreement would cover a big percentage of global carbon dioxide emissions, marking a major step toward needed reductions in greenhouse gases, IMF Managing Director Kristalina Georgieva told an event hosted by the Brookings Institution.

Jun 21 - What's the plan? Corporate polluters lag on setting climate goals 

Scientists say the world needs to cut greenhouse gas emissions by at least 45% by 2030 to have any hope of meeting Paris Agreement targets for the middle of the century and averting catastrophic warming. Yet 41 of the world's 250 biggest corporate emitters - or 16% - are only just starting to assess their emissions, with no reduction targets set for any year, an analysis of data from research firm Signal Climate Analytics found.

Jun 18 - IMO adopts carbon reduction metrics but defers discussion of carbon levy
- $100/mt CO2e levy due for discussion in October
- Framework for measuring CO2 emissions from ships agreed

Jun 18 - Nature-based carbon credit prices slow to rise despite increased demand
- High volumes, older vintages in nature-based credits market tamping down prices
- European buyers purchase credits in bulk from Africa, Asia

Jun 18 - Japan's MOL targets net zero by 2050, 110 zero-emission ocean liners by 2035
- To introduce 90 LNG-fueled ships by 2030
- To cut GHG emission intensity by 45% by 2035 from 2019

Jun 18 - China's initial carbon prices to balance growth needs with long-term climate goals
- China ETS to be world's biggest carbon market with 4 bln tons of allowances
- Initial carbon price will be low, allowances to tighten in future

Jun 18 - Reinsurers look at dumping coal from bulk-buy policies in green gambit 

Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part - finding ways to exclude coal from bulk-buy contracts, known as "treaty" reinsurance. Reinsurance companies help to share the burden of insurance risks by underwriting frontline insurers. Any restrictions they impose will have a knock-on impact on insurance policies on offer to companies.

Jun 18 - Spain's Acciona seeks $11.6 bln valuation with renewables IPO 

Spain's Acciona said on Thursday it was targeting a valuation of up to 9.8 billion euros ($11.66 billion) for its energy business following the listing of up to 25% of this unit, in what is set to be one of the biggest in a record year so far for listings in Europe. The deal targets a lower valuation than the 12.1 billion euros achieved by Vodafone's infrastructure unit Vantage Towers in a blockbuster deal in March but higher than the 7.6 billion pounds ($10.58 billion) achieved by British online food company Deliveroo in March.

Jun 17 - EU eyes tighter rules for 'renewable' biomass energy - draft 

The European Union is considering tightening rules on whether wood-burning energy can be classed as renewable and count towards green goals, according to a draft document seen by Reuters on Wednesday. The aim is to protect delicate ecosystems like old growth forests and stop wood fit for other purposes, like making furniture, from ending up as pellets or chips burned to produce biomass energy.

jun 17 - Price agency Platts launches carbon-neutral LNG assessment 

Commodity price agency S&P Global Platts said on Wednesday it has launched a daily carbon-neutral liquefied natural gas (LNG) price assessment, to track the cost of carbon credits bought and retired to offset carbon emissions from LNG trade.  "We are already seeing LNG consumers around the world demand action on emissions associated with LNG use amid an increasingly carbon-conscious economy," said Platts' global director of LNG pricing Ciaran Roe.

Jun 16 - EU, U.S. agree to talk on carbon border tariff 

The United States and European Union agreed on Tuesday to hold talks on the bloc's planned carbon border tariff, possibly at the World Trade Organisation, EU chief executive Ursula von der Leyen said. U.S. President Joe Biden met European Commission President von der Leyen and European Council President Charles Michel on Tuesday for a summit tackling issues from trade to the COVID-19 pandemic.

Jun 16 - More China coal investments overseas cancelled than commissioned since 2017 - research 

More China-invested overseas coal-fired power capacity was cancelled than commissioned since 2017, research showed on Wednesday, highlighting the obstacles facing the industry as countries work to reduce carbon emissions. The Centre for Research on Energy and Clean Air (CREA) said that the amount of capacity shelved or cancelled since 2017 was 4.5 times higher than the amount that went into construction over the period.

Jun 15 - Rotterdam could import green hydrogen from Iceland by 2030
Green hydrogen shipments from Iceland to Rotterdam in the Netherlands could start before 2030, the Port of Rotterdam and the National Power Company of Iceland, Landsvirkun, said June 15.

Jun 15 - European green hydrogen supply sufficient to meet demand in 2040: report
European green hydrogen supply could be enough to meet the continents demand for the renewable gas by 2040, a new study from the European Hydrogen Backbone initiative said June 15.

Jun 15 - Demand increasing for voluntary carbon credits: ACT Commodities
- Airlines taking a forward view on carbon offsets
- Demand also coming from oil and gas, big tech

Jun 15 - Europe carbon prices expected to rise to 2030:  industry survey 

Carbon prices in the European Union's emissions trading system are expected to rise significantly in the next decade due to tougher climate goals, market participants said in an industry survey published on Monday. The EU's emissions trading system (ETS) is the largest carbon market in the world, covering around 45% of the bloc's output of greenhouse gases and charging emitters for every tonne of carbon dioxide they emit.

Jun 15 - EDF examines gas build-up at Chinese nuclear plant 

French power group EDF has begun examination of a potential issue linked to a build-up of inert gases at its nuclear power station in China, though the company and its Chinese partner said the plant was operating safely. CNN reported on Monday that the U.S. government had spent the past week assessing a report of a leak at the Taishan power plant in Guangdong province run by a joint venture between EDF and China General Nuclear Power Group (CGN).

Jun 14 - G7 agrees to end new gov't support for coal power by end of 2021 

The Group of Seven nations on Sunday pledged to rapidly scale up technologies and policies that accelerate the transition away from unabated coal capacity, including ending new government support for coal power by the end of this year. The countries, in a communique following their summit in Britain, confirmed pledges to increase climate finance contributions as part of efforts to reduce emissions that contribute to climate change and help a move toward cleaner energy, although climate groups said firm cash promises and other details were missing. 

Jun 14 - German Green leader wants new policy to aid industry in CO2 reduction 

German Green Party will seek to support the country's industry on its road to cutting carbon emissions by ensuring the state helps meet any additional costs companies incur, its leader Annalena Baerbock said on Saturday. On the second day of a party conference to approve the party's election programme, Baerbock said industry in Europe's leading economy would receive binding assurances on the support on offer.

Jun 11 - NYMEX products retreat as US mulls RINs relief for refiners
NYMEX refined product futures settled sharply lower June 11 following reports that President Joe Biden's administration is weighing options to provide relief to US refiners from biofuel blending mandates.

Jun 11 - Gazprom, Shell reiterate commitment to energy transition
- Investing more than $2 bil a year in clean energy: Shell
- Gazprom, Shell say energy transition inevitable

Jun 11 - Trafigura, Total join project to study using green ammonia as marine fuel

- Cost a key issue for ammonia
- Small plants may emerge in 2025

Jun 11 - IEA's net-zero roadmap is unrealistic, lacks localized approach - Chinese experts
- IEA report lacks differentiated approach between developed and developing countries
- Rapid phasing out of fossil fuels could destabilize energy supply, power grids

Jun 11 - China to end subsidies for new solar, onshore wind projects in 2021hina will no longer give subsidies for new solar power stations, distributed solar projects by commercial users, or onshore wind projects from the central government budget in 2021, the state economic planner said on Friday. The new rule, effective from Aug. 1, follows a drastic fall in manufacturing costs for solar and wind devices amid booming renewable capacity in China, and will ease a backlog of subsidy payments that had exceeded 400 billion yuan ($62.64 billion).

Jun 11 - Australia faces climate pressure with EU carbon tariff threat – study
Australia's conservative government should give up its outright rejection of carbon tarrifs and instead work to make them fairer and more effective, a think tank said on Friday. The EU is set to propose a carbon border tariff policy on July 14 which would impose emission costs on imports of goods including steel, cement and electricity, to level the playing field with countries, like Australia, with weaker carbon policies.

Jun 10 - Energy, emissions front and center as NATO militaries look to future
- Climate change, fuel use loom large at NATO summit
- Switch to sustainable fuels faces supply, cost challenge

Jun 10 - European Commission joins Czech case against Poland's Turow coal mine 

The European Commission said on Wednesday it would take part in the Czech Republic's lawsuit against Poland at Europe's highest court over the expansion of the Polish Turow open-pit brown coal mine near the two countries' border. "I can now confirm that the Commission has today submitted its request to intervene before the Court of Justice of the EU in Case C-121/21 Czechia v Poland," a spokesperson said.

Jun 10 - Wind could produce affordable green hydrogen by 2030, Siemens Gamesa says 

Wind power could make it possible to produce hydrogen without emitting greenhouse gases as cheaply as is currently feasible with fossil fuel energy by 2030, turbine maker Siemens Gamesa said in a white paper released on Wednesday. Policymakers see green hydrogen, which is made with renewable power without emitting carbon, as a vital tool to help shift economies away from planet-warming energy sources and to stave off climate change, but want to reduce its sky-high costs.

Jun 09 - Poland plans to close Europe's most polluting power plant by end 2036 

Poland plans to close Europe's most polluting power plant by the end of 2036, a draft document published by local authorities said on Tuesday, after energy group PGE scrapped plans to develop an open-pit coal mine to support it. The document, which is subject to public consultation, is part of the Lodz region's application for support from the European Union Just Transition Fund, aimed at helping regions bear the cost of shifting to a climate-neutral economy.

Jun 09 - Global supply chain squeeze, soaring costs threaten solar energy boom 

Global solar power developers are slowing down project installations because of a surge in costs for components, labor, and freight as the world economy bounces back from the coronavirus pandemic, according to industry executives and analysts interviewed by Reuters. The situation suggests slower growth for the zero-emissions solar energy industry at a time world governments are trying to ramp up their efforts to fight climate change, and marks a reversal for the sector after a decade of falling costs.

Jun 08 - Regulatory certainty, not finance, main barrier to hydrogen projects in Europe: RWE
- Clarity needed to support investment decisions
- EU should relax additionality requirements

Jun 08 - SocGen sees 2030 EU carbon cap at 817 million mt
- Forecast assumes 61% emission cut from 2005 levels
- EU working on aligning EU ETS cap with new 2030 emissions target

Jun 08 - ICE European carbon trade suspended briefly on first day of migration 

Trading in European emission allowances on the Intercontinental Exchange (ICE) was briefly suspended due to technical issues on Monday, the exchange said, the first day that trading migrated to the ICE Endex platform. Trading resumed at 0910 GMT after the brief suspension.

Jun 08 - EDF Energy starts defuelling phase of Dungeness B with immediate effect 

EDF Energy has decided to move Britain's Dungeness B nuclear power station in Kent into the defuelling phase with immediate effect, it said on Monday.  The two reactors at the plant have been offline since 2018, due to an extended outage in which EDF has been managing a range of "unique, significant and ongoing technical challenges" not found in other British reactors, it said.

Jun 07 - EU carbon border mechanism to require surrender of certificates: draft proposal
- Importers to require authorization by CBAM Authority
- Certificates to be sold linked to EU carbon prices

Jun 07 - Symbols for ICE EUA and ICE EUAAs move to ICE Endex
Be aware that ICE will transition ICE EUA Futures and Options, ICE EUA Daily Futures and ICE EUAA Futures from ICE Futures Europe to ICE Endex. The data will be available in Connect but will require the ICE Endex entitlement and a symbol extension change. The change will take place for trade date June 7th.  See below for symbol extension change (-ICE to -ICN)
 
Old Symbols    New Symbols
ECF 21H-ICE    ECF 21H-ICN
ECF 22H-ICE    ECF 22H-ICN
ECF 23H-ICE    ECF 23H-ICN
EFO 22H-ICE    EFO 22H-ICN
EFO 23H-ICE    EFO 23H-ICN
EFO 21M-ICE    EFO 21M-ICN
ECP 21J05-ICE    ECP 21J05-ICN
ECP 21J06-ICE    ECP 21J06-ICN
 
Please reach out to your account manager for any questions about access to ICE Endex.

Jun 07 - Geothermal clean energy projects in Europe stall during pandemic 

New climate-smart geothermal-powered heating and cooling projects in Europe "nearly came to a halt" in 2020 due to financial uncertainties during the coronavirus pandemic, according a report by the European Geothermal Energy Council. While an average of 12 new projects were commissioned every year between 2010 and 2019, none were approved in 2020, and only two existing projects were completed.

Jun 07 - Putin says Nord Stream 2 gas link to be finished as U.S. seeks good European ties 

Russia's Nord Stream 2 gas pipeline is ready to start pumping gas to Germany and the final stretch will be completed as the new U.S. administration seeks good relations with "key partners in Europe," President Vladimir Putin said on Friday.  Successive U.S. administrations have imposed sanctions to try to block the project that will ship gas directly from Russia to Germany, bypassing Western ally Ukraine.

Jun 04 - EU's carbon border tariff to target steel, cement, power - draft
The European Union plans to impose carbon emission costs on imports of goods including steel, cement and electricity, according to a draft document seen by Reuters. The European Commission is due to propose its carbon border tariff policy on July 14, a move designed to put EU firms on an equal footing with competitors in countries with weaker carbon policies than those of the 27-nation bloc.

Jun 04 - Bank of England aims for net-zero emissions before 2050
Bank of England Governor Andrew Bailey said on Thursday that the central bank would cut the carbon emissions from printing banknotes and running its buildings to net zero by 2050 at the very latest. British finance minister Rishi Sunak changed the BoE's mandate in March to require it to support the government's goal of reducing greenhouse gas emissions to net zero.

Jun 03 - World's coal producers now planning more than 400 new mines - research 

The world's coal producers are currently planning as many as 432 new mine projects with 2.28 billion tonnes of annual output capacity, research published on Thursday showed, putting targets for slowing global climate change at risk. China, Australia, India and Russia account for more than three quarters of the new projects, according to a study by U.S. think-tank Global Energy Monitor. 

Jun 03 - Orsted plans $57 bln drive to be No.1 in green energy 

Orsted, the world's largest offshore wind farm developer, is ramping up its investment in renewables to $57 billion by 2027, seeking to become a global leader in green energy and fend off growing competition. The Danish firm, which sold its oil and gas business in 2017, has benefited hugely from policies to implement the 2015 Paris Agreement, a collective shot at limiting global warming.

Jun 02 - 'Greenium' shrinks as climate bond sales swell to record 

Investors have long paid a premium to get hold of scarce green bonds, but record issuance might be about to change that. Bonds sold to fund environmentally-beneficial projects have tended to command higher prices and lower yields than conventional bonds. But that differential -- dubbed the greenium -- all but vanished in April in the euro corporate bond market.

Jun 02 - Equinor and Exxon bet $8 bln on Brazilian field with reduced emissions 

Norway's Equinor ASA, Exxon Mobil Corp and Petrogal Brasil will pour $8 billion into a Brazilian deepwater oil field development that is expected to produce about half of the average carbon emissions of similar projects, the companies said in a joint statement on Tuesday. The announcement comes days after a series of defeats for oil companies amid a growing push by investors and activists to make the industry more proactive in combating climate change. Exxon shareholders voted in two new board members supported by a tiny hedge fund that said the company's moves on reducing emissions were inadequate.

Jun 01 - Eni, BP in talks over oil and gas assets in Algeria 

BP and Eni are in talks over the future of their oil and gas assets in Algeria as the two groups increase efforts to refocus their businesses to tackle falling margins, rising debt and climate pressures, three sources said. Europe's top energy companies are cutting back their oil and gas portfolios to keep only the assets most likely to be profitable and redeploy capital for a transition to clean energy as uncertainty mounts over future demand for fossil fuel.

Jun 01 - Loophole allows China firms to misuse green financing - research 

Loopholes in China's green financing rules could allow big state-owned firms to use proceeds from "carbon-neutral bonds" to fund day-to-day operations including coal-fired power plants, according to research published on Tuesday. The Institute for Energy Economics and Financial Analysis (IEEFA) examined the first batch of yuan-denominated carbon-neutral bonds issued this year by giant state-owned energy corporations such as China Energy Investment Corporation (CEIC) and the China Huaneng Group.

May 31 - Big oil may get more climate lawsuits after Shell ruling - lawyers, activists 

A Dutch court's decision to force Royal Dutch Shell to make deeper, faster cuts to its climate warming emissions on the basis of human rights could set a precedent, especially in European countries, according to lawyers and activists. The court on Wednesday ordered the Anglo-Dutch company to slash its global greenhouse gas emissions, which stood at around 1.6 billion tonnes of CO2 equivalent in 2019, by 45% by 2030. Shell said it would appeal the decision forcing it to cut by an amount roughly equivalent to four times Britain's annual emissions.

May 31 - Three Exxon refineries top the list of U.S. polluters 

Exxon Mobil's U.S. oil refineries pump out far more lung-damaging soot than similarly-sized facilities operated by rivals, according to regulatory documents and a Reuters analysis of pollution test results. The Texas-based firm's three largest refineries - two in Texas and one in Louisiana - are the nation's top three emitters of small particulate matter, according to the analysis of the latest tests submitted to regulators by the nation's 10 largest refineries.

May 28 - ESB, dCarbonX sign MOU on Irish offshore green hydrogen storage
Ireland's ESB and energy storage developer dCarbonX have signed a memorandum of understanding to assess and develop offshore renewable hydrogen subsurface storage offshore Ireland, the companies said May 26.

May 28 - UK energy regulator Ofgem sets out role in building a hydrogen economy
UK gas and electricity sector regulator Ofgem has laid out its role in supporting the development of low-carbon hydrogen in the government's Green Industrial Revolution plan, focusing on hydrogen for heat, blending into the natural gas grid and the energy carrier's use in decarbonizing industrial clusters.

May 28 - France's Total to face climate plan pressure at investor meeting 

Several Total shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure. The International Energy Agency has warned that new fossil fuel projects must stop this year if the world wants to reach net zero carbon emissions by the middle of the century, a far faster pace than that envisaged so far by oil producers.

May 28 - Total, Chevron suspend payments to Myanmar junta from gas project 

French oil and gas group Total and U.S. energy company Chevron have suspended some payments from a gas joint venture that would have reached Myanmar's junta, earning praise from pro-democracy activists for taking an important first step. International companies doing business in the country have come under pressure from rights groups and Myanmar's parallel civilian government to review their operations to stop payments flowing to a military government that seized power on Feb. 1.

May 27 - CEC carbon prices gradually rise in May after limited demand for carbon credits in April

 
May 27 - Rising global temperatures 'inexorably closer' to climate tipping point - U.N. 

There is now a 40% chance that global temperatures will temporarily reach 1.5 degrees Celsius above pre-industrial levels in the next five years -- and these odds are rising, a U.N. report said on Wednesday. This does not yet mean that the world would already be crossing the long-term warming 1.5-degree threshold set by the Paris Climate Accord, which scientists warn is the ceiling to avoid the most catastrophic effects of climate change. The Paris Accord target looks at temperature over a 30-year average, rather than a single year.

May 27 - Britain's former trade secretary calls for carbon border tax (Reuters) 

Britain’s former trade minister Liam Fox has called for a carbon border tax to help protect businesses against cheaper imports from countries with less strict climate policies. "I hope the government will bring forward concrete plans to create a workable proposal on this as soon as possible," he told Reuters.

May 27 - Shell ordered to deepen carbon cuts in landmark Dutch climate case

A Dutch court ordered Royal Dutch Shell to drastically deepen planned greenhouse gas emission cuts on Wednesday, in a landmark ruling that could trigger legal action against energy companies around the world. Shell said it was "disappointed" and plans to appeal the ruling, which comes amid rising pressure on energy companies from investors, activists and governments to shift away from fossil fuels and rapidly ramp up investment in renewables.

May 26 - Global carbon pricing schemes raised $53 bln in 2020 - World Bank 

Countries around the world raised $53 billion last year by charging firms for emitting carbon dioxide (CO2), up almost 18% from 2019 as some imposed new levies and prices in some existing schemes rose, the World Bank said in a report on Tuesday. Many countries are using a price on carbon to help meet their climate goals in the form of a tax or under an emissions trading (ETS), or cap-and-trade, system.

May 26 - Nord Stream 2 sanctions would be 'counter-productive' for European ties - Biden 

U.S. President Joe Biden on Tuesday said he decided to waive sanctions against the company behind the Nord Stream 2 gas pipeline because the project was nearly complete, and doing so could have harmed ties with Europe. Biden, who is preparing for his first visit to Europe and his first meeting with Russian President Vladimir Putin next month, told reporters he had opposed the new pipeline since its inception, but held off on sanctions because it was "almost completely finished" by the time he took office in January.