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EU eyes rules excluding existing Corsia Phase 1 supply
EU eyes rules excluding existing Corsia Phase 1 supply
London, 21 April (Argus) — The entire existing supply of first-phase credits tagged for approval under the Carbon Offsetting and Reduction Scheme for International Aviation (Corsia) could become ineligible in the EU under additional requirements to be proposed by the European Commission, according to a draft document seen by Argus today. The document proposes excluding from Phase 1 compliance (CP1) for EU-based airlines "at least" units issued under high forest, low deforestation (HFLD) methodologies — activities credited based on existing carbon stocks — and credits issued by projects whose fraction of non-renewable biomass (fNRB) is above the host country value, as adopted in Table 3 of version 3.0 of TOOL33 of the Clean Development Mechanism. None of the existing CP1-tagged credits meet the proposed requirements, the EU said. A jurisdictional reducing emissions from deforestation and forest degradation (J-REDD+) project in Guyana, which has issued around 25mn of the total 33mn credits in the scheme, was an HFLD initiative. "Crediting the mere existence of stocks does not contribute to addressing climate change, for which real additional anthropogenic impact on stocks are needed, whether in the form of removals or emissions reductions," the document says. Its fNRB restriction aims to curtail over-crediting and align with methodologies under Article 6.4 of the Paris Agreement. Under the proposed rules, clean cookstove projects could cancel some of their credits to reach the volume they would have issued with an appropriate fNRB value and become eligible ex-post. This would make about 10pc of existing credits eligible. The EU would not impose any additional requirements on accepted registries for Phase 1 to those listed by Corsia's ruling body the International Civil Aviation Organisation (Icao), the commission said in the draft. For Phase 1, only credits supplied by countries that are members of the Paris Agreement and apply Corsia would be eligible for compliance. About 100 countries meet both requirements from 2027 onwards, the EU said. It proposed updating the list of countries annually. The commission may at a later date also propose that credits only be eligible if the host country specifies "authorisation or issuance" and not "use or cancellation" for export when notifying "first transfer" — establishing the obligation to apply a corresponding adjustment in an upcoming biennial transparency report. The carbon would therefore have to be accounted for at authorisation or issuance, rather than when the buyer uses it or cancels it, preventing host countries from stepping back from their obligations. And the commission could propose more stringent requirements under Corsia's second phase, from 2027-35. This could include limiting eligibility to credits supplied under Article 6.4's Paris Agreement Crediting Mechanism (Pacm), and possibly to other credits of equivalent standards, the draft said. It could also impose more stringent carbon reporting standards on project host countries that would have to be considered at a "later stage" to ensure alignment with the relevant provisions dealing with international credits post-2030. The draft would, if approved, sharply constrain supply, and it is a "sub-optimal outcome", one market source said. European airlines have been holding off from procuring Corsia-eligible credits in anticipation of potentially more stringent requirements being imposed. Activity from end-users in Asia has also been dampened by budgets tightened by disruptions from the Middle East war, and because they are looking to Europe for clarity. By Alexandra Luca Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Renewables mean energy security: Turkey, Australia
Renewables mean energy security: Turkey, Australia
Edinburgh, 21 April (Argus) — Energy security will come through "strong decarbonisation" and shifting to renewables because fossil fuels "do not guarantee supply security", the climate ministers of Turkey and Australia said today, adding that the topic of transitioning away from fossil fuels will be further addressed at the UN Cop 31 climate summit. The countries are working together to prepare the Cop 31 climate summit in Antalya later this year, with Turkey hosting the conference and Australia heading climate negotiations. The energy crisis stemming from the war in the Mideast Gulf has "clearly shown us that fossil fuels do not guarantee energy supply security" and countries should invest in "alternative energy sources" to support stability, resilient and clean development, upcoming Cop 31 climate summit president and Turkey's environment minister Murat Kurum said today. "Every country has to be independent and this should come through clean energy sources", including renewables, hydrogen and ammonia, he said. "We know that relying solely on fossil fuels means walking towards volatility, insecurity and climate collapse", he said during the 17th Petersberg Climate Dialogue in Berlin as he laid out Turkey's vision focused on implementation for Cop 31. "As we all agreed in Dubai, we emphasised how important the need for alternative energy sources and the diversification of countries' energy is, in line with national circumstances," he said. Almost 200 countries agreed to transition away from fossil fuels at the Cop 28 climate summit in 2023 and developed nations agreed to deliver $300bn/yr to developing countries by 2035 at Cop 29 in Baku. Kurum urged countries to fulfil commitments made at previous climate summits, including on finance and energy, asking those that did not summit climate plans — or nationally determined contributions (NDCs) — to do so. Around 43 countries have yet to submit their NDCs, according to Kurum. Australia's climate and energy minister Chris Bowen said the crisis is a unique opportunity to show that energy reliability, sovereignty and security go hand in hand with "strong decarbonisation", and he welcomed Germany's push for a discussion on electrification at the Petersberg Climate Dialogue. German environment minister Carsten Schneider said today he wanted to discuss how to tackle the topic of electrification before Cop 31 and how countries can successfully advance the topic. "Doubling down on fossil fuels is not the answer to that crisis," Bowen said. "Wind cannot be subject to sanctions, sun cannot be interrupted by a blockage", he said, referring to the shipping interruption in the strait of Hormuz caused by the US-Israel-Iran war. "At the end of the day, we have to take steps to help countries to transition towards clean energies and in terms of phasing out fossil fuels," Kurum said. He said Cop 31 will address the phase out of fossil fuels, so the world moves away from them. Clean energy will be one of the topics of Turkey's action agenda at Cop 31, Kurum said. Bowen pointed out there were "three processes" under way ahead of Cop 31, including the Belem roadmap on transitioning away from fossil fuels under the responsibility of the Brazilian Cop 30 presidency, and a global implementation accelerator and the Belem Mission to 1.5°C that were both agreed by the Cop parties last year. "I am very confident we can bring these processes together," Bowen said. The Cop 30 presidency last year pledged to oversee the creation of a roadmap on fossil fuels as countries failed to agree to address the topic in the summit's text . By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Mideast Gulf war 'locks in' higher fossil fuel cost: UN
Mideast Gulf war 'locks in' higher fossil fuel cost: UN
Edinburgh, 21 April (Argus) — The war in the Middle East has "further locked in much higher fossil fuel costs for months and likely years to come", UN Framework Convention on Climate Change (UNFCCC) executive secretary Simon Stiell said today. The war is "delivering a gut punch" to every country, he told ministers from more than 40 countries during the opening of the closed-door 17th Petersberg Climate Dialogue in Berlin. "Fossil-fuel driven stagflation is now stalking economies — driving up prices, driving down growth, pushing budgets deeper into quagmires of debt, and stripping away governments' policy options and autonomy," he said, adding that climate co-operation was key to fight global heating and "fossil fuel cost chaos". He urged ministers to turn commitments into projects and to match targets with solutions. The Alliance of Small Island states (Aosis) said the case for advancing to more sustainable energy sources "has never been more clear", because dependence on fossil fuels exposes economies to shocks. The group is urging developed countries to take the lead in the global transition away from fossil fuels. The EU will present a new strategy and targets for electrification before the summer. The bloc remains behind China and the US on that front, EU energy commissioner Dan Jorgensen said last week. Higher fossil fuel costs are "the brutal reality of fossil fuel dependency and it is a reality Europe cannot afford to keep accepting". The war added more than €20bn ($23.5bn) to Europe's fossil fuel import costs, "with not a single extra molecule of energy to show for it", he said. The Petersberg Climate Dialogue aims to bring together countries to prepare negotiations at UN Cop summits. The meeting comes a week before around 50 countries are due to gather for the first conference on transitioning away from fossil fuels co-hosted by Colombia and the Netherlands. Fossil fuel producers Canada, the UK, Norway, Angola, Mexico, Brazil, Senegal and Australia will take part in the talks . By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
German government relaunches carbon management dialogue
German government relaunches carbon management dialogue
Berlin, 20 April (Argus) — Germany's economy ministry is relaunching the stakeholder process for the country's carbon management strategy, as companies await more clarity on the role of negative emissions and possible carbon storage sites. The relaunch of the stakeholder process for Germany's carbon management strategy — renamed the "carbon management action plan" to reflect the change in government — is "imminent", the federal ministry of economic affairs and industry said today, although it would not give a timeline. Stakeholders have been asked to draw up proposals to policymakers by the summer break. A draft carbon management strategy is then expected to be presented in the autumn. While the government's carbon management action plan is important, the really crucial decisions concern the future inclusion of negative emissions in the EU emissions trading system (ETS) and will be made at European level, Germany's Carbon Management Alliance (CMA), which represents industrial companies active in the sector, said. The European Commission will begin its scheduled review of the EU ETS in July. Excluding negative emissions from the ETS will make business cases for carbon capture, use and storage (CCUS) far more difficult, as will any softening of the ETS price, CMA expert Norman Wendt said. The announcement last week that Germany will not provide financial support for the development of carbon transport infrastructure to storage sites in the North Sea is probably understandable, Wendt said, as "these are not times for government spending on large infrastructure projects". But the government nonetheless has a role to play in setting the right incentives for private investments, Wendt said, including through derisking instruments and equity participation models. It will also need to ensure "targeted" and "co-ordinated" infrastructure planning, bearing in mind potential onshore options, Wendt said. More concerning is the government's assumption that federal states will allow onshore carbon storage on their territory, towards which none has made any move, Wendt said. If a federal state decides to start the necessary legislation it will likely face public resistance and is likely to take years, Wendt said. Once onshore carbon storage is permitted in a state, its mining authority would still need to decide on appropriate storage sites, which would take too much time, particularly for industry first movers already planning their CCS activities, Wendt said. By Chloe Jardine Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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