Carbon markets
Overview
Argus carbon markets services provide essential insight into global industry trends, policy changes, and regulatory developments. They include access to analysis and price for the green markets assessments, including renewable energy certificates, voluntary carbon credits, CO2 permits, EU Emissions Trading systems (ETS), SO2 and NOX.
Key markets covered
- Europe
- EUA (EU ETS allowances)
- CER (certified emission reductions)
- ERU (emission reduction units)
- US & Canada
- RECs (renewable energy certificates)
- Carbon markets for California, RGGI (Regional Greenhouse Gas Initiative), and Canada
- California and Oregon LCFS (low-carbon fuel standard)
- Biofuel RINs (renewable identification numbers)
- SO2 and NOX
Latest carbon markets news
Browse the latest market moving news on carbon markets.
EU Parliament sets out Cop 29 position
EU Parliament sets out Cop 29 position
Brussels, 22 October (Argus) — The European Parliament's environment committee has voted through a draft resolution urging countries to agree on a new collective goal for climate finance at the UN Cop 29 climate conference in Baku, Azerbaijan, in November. Parliament's text calls for "innovative" sources of finance, similar to language used earlier this month by EU ministers when agreeing a general negotiating mandate for the summit. And the responsibility for delivering on the new collective quantified goal (NCQG) for post-2025 should encompass a "broadened contributor base reflecting parties' evolving financial capabilities and historical emission levels", parliament said. Parliament "insists" that emerging economies with high emissions and high GDP should contribute to the new goal, which is designed to be a successor to developed countries' existing commitment to providing $100bn/yr in climate finance over 2020-25. The draft resolution also notes that the NCQG should clearly prioritise "grants-based finance", be socially fair and aligned with the polluter-pays principle, and ensure that the costs of climate change are borne by those with the greatest capacities. Parliament points to "potential financial contributions from the fossil fuel supply chain". Cop 29 should also co-ordinate for an unambiguous signal on transitioning away from fossil fuels. And the resolution contains a call for the European Commission to work on expanding the scope of the bloc's carbon border adjustment mechanism (CBAM) to more sectors, as well as encouraging the introduction of global carbon pricing. While non-binding, parliament would have to approve any international treaty and detailed climate and energy legislation to achieve greenhouse gas emissions cuts. The resolution received a large cross-party majority in committee, indicating a smoother passage in parliament's plenary vote on the matter next month. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Southeast Asian oil demand to rise to 2050: IEA
Southeast Asian oil demand to rise to 2050: IEA
Singapore, 22 October (Argus) — Southeast Asia's oil demand is set to increase to 7mn b/d in 2050 under current policies, according to the IEA's latest Southeast Asia Energy Outlook released today. Oil demand in the southeast Asian region is set to rise from 5mn b/d in 2023 to 6.4mn b/d in 2035, and to 7mn b/d in 2050. This is a downward revision from the IEA's previous outlook in 2022, which projected oil demand rising to about 7mn b/d in 2030 and 7.5mn b/d in 2050. The IEA's stated policies scenario (Steps) is based on countries' existing policies, while the announced pledges scenario (APS) assumes that governments meet all their national energy and climate targets, including long-term net zero goals. Under the APS, oil demand continues to grow but to a lesser extent to 5.2mn b/d in 2035, and then falls to 3.8mn b/d in 2050. The transport sector is the main driver of the region's increase in oil demand, with oil consumption in that sector more than doubling from 1.3mn b/d in 2000 to 2.8mn b/d currently. Under current policies and trends, gasoline and diesel consumption for road transport rises by around 30pc by 2050, reaching nearly 1.6mn b/d. The region's gas demand is projected to rise from around 170bn m³ currently, to around 210bn m³ in 2030 and about 270bn m³ in 2050. This compared to the IEA's 2022 projections of 240bn m³ in 2030 and about 340bn m³ in 2050. Gas demand has increased by 5pc since 2022, according to the IEA. This recovery comes after a 4pc fall in demand over 2019-22, resulting from Covid-19 and a rise in LNG prices following Russia's invasion of Ukraine. Overall energy demand is expected to rise by "about a third by 2035 and two-thirds by 2050," according to the IEA, with just under half of this demand growth to be met by fossil fuels. Under the APS, energy demand grows to a smaller extent of around 40pc to 2050, reflecting accelerated improvements in efficiency, electrification and fuel switching. The share of fossil fuels in the total energy mix falls from 78pc currently to 65pc in 2050. This is lower than the 2022 outlook's projection that fossil fuels would make up more than 70pc of the energy mix in 2050. The downward revisions in fossil fuel demand and their share in the energy mix is likely because renewables are set to grow rapidly in the region. Renewable energy already accounts for just under 20pc of the region's energy mix, through hydropower, geothermal and bioenergy. Clean energy is set to meet more than 35pc of energy demand growth to 2035 under the Steps scenario, because of rapid expansions in wind and solar power. IEA's growing presence in southeast Asia The IEA and Singapore inaugurated the IEA Regional Co-operation Centre on 21 October — the first office outside of the organisation's Paris headquarters. The centre will serve as a hub for IEA's activities and engagement in the region, so the organisation can provide policy guidance, technical assistance, training and capacity-building to address areas such as scaling up the deployment of renewables and increasing access to finance for clean energy investments. Southeast Asia is projected to be second only to India in the contribution to global energy demand growth over the coming years, said IEA's chief energy economist Tim Gould on 22 October at the Singapore International Energy Week. This is why the new regional center is so important, he added. Cross-border electricity trade, in particular, is going to be a high priority, Gould said. "A key work, from an IEA perspective, is to make those opportunities to bring in the private sector and different sources of finance for these projects," he added. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Singapore OKs planned 1.75GW Australia power imports
Singapore OKs planned 1.75GW Australia power imports
Singapore, 22 October (Argus) — Singapore's energy regulator Energy Market Authority (EMA) has granted conditional approval to Australian firm Sun Cable to import 1.75GW of low-carbon electricity from Australia into Singapore, EMA said today. The conditional approval "recognises that Sun Cable's [Australia-Asia PowerLink renewable generation and transmission] project can be technically and commercially viable," said Singapore's second minister for trade and industry, Tan See Leng, adding that the approval will facilitate the continued development of Sun Cable's project. Sun Cable's planned commercial operation is expected to be after 2035. Sun Cable will need to validate its technical and commercial plans further to advance the project, as well as secure all requisite approvals from relevant jurisdictions, including countries through which subsea cables will pass. The conditional approval is a step forward in helping Australia "export clean, cheap renewables generated in Australia directly to southeast Asia," said the country's minister for climate change and energy, Chris Bowen on 22 October at the Singapore International Energy Week. The project will be a "meaningful complement to the Asean power grid " when it is completed, Tan added. The project, which involves up to 5.75GW of solar power capacity in Northern Australia and the potential export to Singapore via a 4,300km subsea cable, also received federal environmental approval in August. Low-carbon electricity imports are part of Singapore's overall strategy to decarbonise the power sector, which currently accounts for 40pc of its carbon emissions. EMA is seeking to import around 6GW of low-carbon electricity by 2035. The authority has so far secured 2GW of conditional licences for imports from Indonesia, 3.6GW of conditional approvals comprising 1.4GW from Indonesia, 1GW from Cambodia and 1.2GW from Vietnam . By Tng Yong Li Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Q&A: Zeg turns to tech to boost RNG
Q&A: Zeg turns to tech to boost RNG
Sao Paulo, 21 October (Argus) — Brazilian biomethane company Zeg Biogas and technology developer W2E Cleantech have teamed up to study new technology to more efficiently generate biogas and biomethane from organic waste. Argus spoke to Zeg chief executive Eduardo Acquaviva about what to expect from the new technologies and the future of the biomethane market after the approval of the fuel of the future bill. What challenges does this new technology address? We launched a new technology and business development partnership with W2E Cleantech, a specialist in solutions for waste treatment. These can control temperature, overcoming limitations of horizontal biodigestors, especially with organic matter that has higher solid content. W2E also brings to the table the biopulp technology, which cuts and separates organic matter allowing the use of more concentrated feedstock and opening more possibilities for types of waste to be digested. How can new technologies contribute to the biomethane sector? The use of these technologies opens new possibilities for biogas generation. We have some other partnerships for the purification of this biogas into biomethane, which opens new possibilities for scaling up production. So, with one of the technologies we use, the minimum volume of biomethane generated is [very high]. Combining technologies, such as membranes and biopulp together with proper management, can also generate biomethane on a smaller scale. This allows the optimization of the investment, because a production project based on a machine that can generate more gas than is needed is not financially feasible. What does Zeg expect now that the "fuel of the future" bill is law? The biggest challenge in this market is to be more competitive as we often will compete with fossil fuels. Optimizing investment and being efficient is what will allow biogas to be a better contender product. By Rebecca Gompertz Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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