CARBON MARKETS
Climate summit hypocrisy: The disconnect between promises and reality in global emissions
Climate summits have failed to achieve emission cuts. A new approach focusing on green energy R&D can provide a better solution. Trump's election may lead to a shift away from costly policies. The global transition to green energy is not keeping pace. Investment in green innovation is necessary to make renewable energy affordable and drive global economic growth.
Expressed deep disappointment at EU's CBAM, EUDR regulations with French counterpart: Piyush Goyal
India's Commerce Minister Piyush Goyal expressed disappointment over the EU's green trade regulations, including CBAM and EUDR, calling them unfair and unilateral. He emphasized the principle of common but differentiated responsibilities and India's low per capita emissions during a meeting with his French counterpart, hoping for a resolution through continued engagement.
Coal to remain crucial, green capacity to grow in India: Moody's
India anticipates a 5-6% annual power demand surge, necessitating 40-50 GW of new coal-based capacity over the next five to six years. Coal will remain a primary electricity source for 8-10 years, despite a growing renewable energy share. This aligns with the Asia Pacific trend, where thermal generation continues to meet rising power demands.
India red-flags non-tariff barriers, wants EU focus on market access
India is seeking assurances from the European Union that future non-tariff barriers won't harm its interests during ongoing free trade agreement negotiations. India raised concerns about measures like the Carbon Border Adjustment Mechanism, emphasizing market access for goods, services, investment, and government procurement as key priorities.
ET at COP29: After 9 years of debate, global carbon trading deal finalised
A resolution emerged following nine years of negotiations, after talks broke down in Dubai last year. International carbon trading-which refers to clauses in the Paris Agreement that provide for country-to-country trading, UN-monitored international carbon market and non-market mechanisms-had got an early boost in Baku with countries adopting standards on Day One. Carbon trading is referred to in UN climate talks as "Article 6".
EV battery maker calls for cheaper EU energy to counter China
LG plans to produce more affordable batteries. The factory's utilization may increase next year. LG seeks priority access to cheap, green energy.
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World approves UN rules for carbon trading between nations at COP29
Carbon credits are generated by activities that reduce or avoid planet-heating greenhouse gas emissions, such as planting trees, protecting existing carbon sinks or replacing polluting coal with clean-energy alternatives.
How big fossil-fuel-producing countries export emissions abroad
Fossil fuel exports have been a hot topic at the United Nations climate conference in Baku this year, with activists and delegates from some climate-vulnerable countries arguing nations should be held accountable for the pollution they send overseas - often to poor developing nations - in the form of oil, gas and coal.
Trade demands clash with climate agenda at COP29 talks
Developing countries, including China and Brazil, are raising concerns at COP29 over trade barriers like the EU's carbon border levy, arguing they hinder their climate efforts.
Petrobras approves $3.4 billion in extra dividends, $111 billion strategic plan
Petrobras has announced an extraordinary dividend payout of $3.4 billion to shareholders, resolving a dispute that arose earlier this year. The company also unveiled a revised $111 billion investment plan for 2025-2029, lowering the minimum cash level requirement. The plan prioritizes exploration and production activities while increasing investments in low-carbon initiatives.
Pollution Level: More trees won't cancel out your SUV emissions
Scientists are raising the alarm about the over-reliance on natural carbon sinks to achieve net-zero emissions. They argue that this approach, while stabilizing atmospheric CO2, won't stop global warming and allows continued fossil fuel use. The solution, they say, lies in 'Geological Net Zero,' which emphasizes permanent carbon storage and reduces dependence on finite natural resources.
COP29 climate talks enter final stretch: What happens next?
Marathon climate talks in Azerbaijan entered their final stage, with officials working to finalize agreements on climate finance, fossil fuels, and carbon markets. A key goal is to set a new funding target for developing nations, with debates ongoing about the amount and contributors. The summit, scheduled to end Friday, may extend as negotiators seek consensus on a final agreement.
Can a COP29 deal clean up scandal-ridden carbon offsets?
Countries are working towards a deal at the COP29 climate talks to establish a U.N.-backed carbon market. The aim is to drive investment in emissions-reduction projects, but concerns remain about the effectiveness and integrity of carbon credits after past scandals. While some see it as a key tool, others criticize it as a distraction from genuine emission cuts.
As pollution worsens in Delhi, experts at COP29 urge India to tackle short-lived climate pollutants
At COP29, experts urged India to prioritize reducing short-lived climate pollutants (SLCPs) like methane to combat its severe air pollution and global warming. They highlighted India's successful initiatives but stressed the need for greater global advocacy and funding to scale up these efforts.
COP29 climate summit: Global carbon market set to be reality soon
The COP29 climate summit in Baku saw a significant development as negotiators agreed on rules for a UN-administered global carbon market. This market aims to drive emission reduction projects in developing nations. The agreement operationalizes Article 6.4 of the Paris Agreement. The decision, however, faced criticism for its expedited procedural approach, with some countries expressing concerns over limited consultation time.
Sectors with $4.3 trillion in debt face heightened environmental credit risk: Moody's Ratings report
Moody's Ratings releases new environmental heat map. Sixteen sectors with $5.3 trillion in debt face increased environmental credit risk. Coal mining, chemicals, and oil companies are among the most exposed. These sectors are vulnerable to carbon transition and physical climate risks. Water management, waste, and natural capital risks also pose threats. Investors are advised to consider these risks.
India's expectations from COP29: Focus on equity, finance, and adaptation
At COP29, India is advocating for recalibrated climate finance that addresses the needs of developing countries. India emphasizes the principle of Common but Differentiated Responsibilities, urging developed nations to lead in mitigation and financial support. Key priorities include a fair carbon market mechanism, support for adaptation efforts, and tangible commitments for "loss and damage" financing.
Biofuel blending on track, saved Rs 91,000 Cr in import bills, says Petroleum Minister Puri
India is making significant progress in biofuel blending and is expected to surpass its 2030 target of 20% ahead of schedule. The country's biofuel efforts have resulted in substantial savings on oil import bills and boosted the agricultural sector. India's refining capacity is also expanding, positioning the nation for a successful energy transition.
Fight over including carbon border tax in agenda delays climate talks on day one
Developing nations, including China and India, clashed with developed countries at the UN climate summit over the inclusion of "unilateral trade measures" like the EU's carbon border tax in the meeting's agenda.
World leaders descend on Baku to tackle climate change
World leaders are gathering in Baku for COP29, aiming to accelerate global efforts to combat climate change. Key issues include setting a new climate finance goal and finalizing rules for international carbon trading. The US's stance on climate action after the recent election remains a concern.
Confident of achieving $31 billion chemical export target this fiscal: CHEMEXCIL
CHEMEXCIL Director General Raghuveer Kini expressed confidence in achieving the USD 31 billion chemical export target for 2024-25. Strong demand from markets like Brazil, the US, and Japan is driving growth, despite challenges posed by EU carbon taxes and infrastructure bottlenecks. Kini highlighted the need for improved infrastructure and expanded rupee-ruble trade mechanisms to further boost exports.
India will develop complete solar manufacturing ecosystem in 4-5 years: Avaada Group
Vineet Mittal, Founder and Chairman of Avaada Group, projects that India will achieve a complete solar equipment manufacturing ecosystem within the next four to five years. This ambitious goal aims to reduce reliance on imports and establish India as a renewable energy leader.
SMC unveils its 1st mass-production BEV model, the e VITARA
Suzuki unveiled its first mass-production electric vehicle, the e VITARA. Production will commence in India in spring 2025. Sales will begin in Europe, India, and Japan around summer 2025. The e VITARA is Suzuki's first global strategic BEV model. It is based on the concept model eVX. Suzuki aims to achieve carbon neutrality in Europe, India, and Japan.
Global carbon black industry projected to grow by 50% to USD 42 bn by 2032
The global carbon black market is projected to grow by 50 per cent, reaching USD 42 billion by 2032, driven by increasing demand in the Asia-Pacific region. Investments in the global tyre industry and rising exports from India will play significant roles in substantiating this growth.
China moves to cool rising prices of carbon permits
This move could temper the record 104.14 yuan per ton price, potentially lowering it, while 8 million tons of additional permits are expected to ease compliance pressures.
The world's carbon sinks are on fire
Forests can pull carbon from the air and store it in roots and leaves, locking it out of the atmosphere. Through complex markets, nations can bank trees to lower their greenhouse gas emissions while continuing to use fossil fuels, the root cause of climate change.
Shift toward EVs, particularly in China, could disrupt global oil market, energy report says
The global shift to electric vehicles, led by China, is set to significantly impact the oil market, potentially reducing oil demand by up to 6 million barrels per day by 2030. The IEA report projects EVs will constitute 50% of global car sales by then, stressing the need for faster emissions reduction to meet climate goals.
Carbon Markets Partnership agreement likely to be signed at BRICS summit in Russia
The annual BRICS summit will happen from October 22-24 in Kazan, Russia. Economic cooperation, integrating payment systems, and carbon unit trading will be key topics. BRICS might sign a Carbon Markets Partnership agreement. This will help in joint climate projects and emission reduction. BRICS countries are increasingly important on the global stage.
Edelweiss' Niranjan Avasthi on 3 themes to bet on in China
Niranjan Avasthi from Edelweiss MF notes positive inflows in their Greater China Offshore Fund. Investors are now showing confidence in China's consumption, technology, and carbon neutrality sectors. Both tactical and strategic investments are on the rise, as recent Chinese economic measures seem to be persuading sceptical investors to invest in China.
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