Environment

The growing market for paying for carbon emissions could become a larger market than the one for crude oil, according to the head of carbon trading at Trafigura, one of the world’s largest commodity traders. The carbon market has the potential to become 10 times larger than the global crude …

Leaders of the Group of Seven (G7) nations have concluded their landmark summit in Cornwall, UK committing to reach net-zero emissions by 2050 amid a series of other significant energy and climate pledges. They issued a communiqué in which they set out their net zero commitments and called on all …

G7 leaders committed June 13 to end new direct government support for unabated international thermal coal power generation by the end of 2021. Leaders of the seven major industrialized nations – the UK, US, Canada, Japan, France, Germany and Italy – were meeting in Cornwall under the UK’s presidency of …

One thing COVID-19 has made clear is that Europe needs to be more self-sufficient. However, policymakers are looking to Africa and even further abroad for their renewable hydrogen, despite the potential pitfalls of such a plan, writes Luc Grare. Luc Grare leads the Hydrogen Production Roundtable at the EU Clean …

The International Renewable Energy Agency and China’s National Energy Administration signed an agreement to strengthen efforts towards reaching carbon neutrality goals in the world’s second-largest economy. Abu Dhabi-based Irena, which is headquartered in Masdar City, will prepare a comprehensive energy transition roadmap that will identify key policy actions, technology solutions, …

The governments of Denmark, Norway, and the United States, along with the Global Maritime Forum and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, will lead a new Zero-Emission Shipping Mission as part of Mission Innovation. The mission aims to accelerate international public-private collaboration to scale and deploy new …

National carbon prices and similar mechanisms are urgently needed as a part of countries’ concrete national net-zero policies, International Energy Agency (IEA) Executive Director Fatih Birol told the World Bank Group’s virtual climate action event Innovate4Climate on 26 May. The IEA recently released a report describing how a rapid rise …

The UAE’s Khalifa Industrial Zone Abu Dhabi or KIZAD has announced plans to build a $1 billion green ammonia facility in the free zone targeting regional and international markets as OPEC’s third-largest oil producer boosts investments in clean energy. Helios Industry, a privately-owned special project vehicle company or SPV, will …

The biggest oil-exporting region in the world, the Middle East, has set its sights on becoming a major clean energy exporter of green hydrogen. The largest oil producers in the Arab Gulf have jumped on the hydrogen bandwagon — especially its so-called green variety produced from water electrolysis using electricity …

The European Parliament formally approved the European Union’s multi-billion euro fund on Tuesday (18 May) to support countries as they wind down fossil fuel industries as part of Europe’s push towards fighting climate change. The €17.5 billion Just Transition Fund (JTF) combines cash from the EU’s budget and its COVID-19 …