Speak to a specialist

Register and we will customize a solution that meets your exact needs. When you speak to one of our experts, you may be qualified to sample our industry-leading products on a no-cost basis.

You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.
Generic Hero BannerGeneric Hero Banner
Latest market news

Brazil registers warmest year in 2024

  • Market: Emissions
  • 06/01/25

Brazil registered an average temperature of 25.02°C (77°F) in 2024, the hottest year since 1961, thanks largely to the El Niño weather phenomenon, according to national institute of meteorology Inmet.

Last year's average temperature was 0.79°C above the 1991-2020 average of 24.23°C, Inmet said.

The El Niño natural phenomenon — which occurs when the ocean surface in the central eastern Pacific Ocean becomes warmer than average — altered temperatures in Brazil in 2023-2024.The hottest years in the country tend to coincide with the phenomenon, according to Inmet.

Brazil had extreme climate events throughout 2024, with floods in southern Rio Grande do Sul state, which damaged roads and crops, and wildfires in the southeast.

The country's average temperature in 2023 was 24.92°C, 0.69°C above the average between 1991-2020.

By Maria Frazatto

Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
18/12/25

2026 set to be among 4 hottest years: UK Met Office

2026 set to be among 4 hottest years: UK Met Office

London, 18 December (Argus) — The forecast for 2026 suggests that it is likely to be one of the four warmest years on record, in terms of global average temperature, UK weather agency the Met Office said today. The Met Office's central estimate for 2026 puts the global average temperature at 1.46°C above pre-industrial levels. The range the agency forecasts is between 1.34°C and 1.58°C above the pre-industrial average. The central estimate suggests that 2026 will be the fourth consecutive year that the average temperature will be at least 1.4°C above pre-industrial levels. "Prior to this surge, the previous global temperature had not exceeded 1.3°C", the Met Office's Professor Adam Scaife said. Scaife leads the team behind the global forecast for 2026. The global average temperature in 2024 was 1.55°C above pre-industrial levels, making it the hottest year on record , several international weather and science agencies agreed. The Paris climate agreement seeks to limit the global rise in temperature to "well below" 2°C above pre-industrial levels, and pursues a 1.5°C threshold. The Paris accord's temperature parameters work on a longer timeframe, of at least two decades, so a temperature breach across a year or a few years does not render the accord broken. The World Meteorological Organisation in March estimated that the current level of global warming is at 1.37°C above pre-industrial levels. And climate science "may be underestimating the magnitude of human-induced global warming", given a recent surge in global temperatures, the UN Environment Programme said earlier this month. This year is "on course" to tie with 2023 as the second hottest year on record, EU earth-monitoring programme Copernicus said earlier this month . The global average temperature anomaly for January-November this year is 0.60°C above the 1991-2020 average, and 1.48°C above the pre-industrial reference period of 1850-1900, Copernicus data show. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more
News

Denmark pledges $9.5bn over 15 years for climate goals

18/12/25
News
18/12/25

Denmark pledges $9.5bn over 15 years for climate goals

London, 18 December (Argus) — Denmark has set aside 4bn Danish kroner ($630mn) annually for 15 years from 2034 in order to reach its climate goals, climate minister Lars Aagaard said today. The government has set the country's greenhouse gas (GHG) emissions reduction target for 2035 — a cut of 82pc from 1990 levels, which Aagaard announced at the UN Cop 30 climate summit in November. Denmark aims to reach net zero emissions by 2045, and negative emissions beyond that. The government has since the end of November negotiated with all parties in parliament on the new 2035 climate goal, it said today. The target is set, although there was not "common ground to be able to make a broad agreement", Aagaard said today. "The door is still open for co-operation," he said. "I also think that there is a possibility of raising the target at a later date if the conditions change." The government has prioritised the "necessary financing" to hit climate goals, Aagaard said. "Everyday life must not become unnecessarily expensive for Danes and Danish companies," he said. "We are in a different place than we were in 2019, when the last target was set." Denmark's 2035 goal is one of the most ambitious in the world. It is similar to fellow northwest European oil and gas producer the UK , which has set a goal of 81pc GHG cuts over 1990-2035. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

N Zealand proposes ETS governance penalties

18/12/25
News
18/12/25

N Zealand proposes ETS governance penalties

London, 18 December (Argus) — New Zealand's environment ministry is eyeing fines for failure to comply with new reporting requirements under the NZ Emissions Trading Scheme (NZ ETS), briefing papers published by the ministry this week show. Under the penalty regime, failure to report price and volume information to the government or market monitoring entities would result in fines of NZ$8,000 ($4,621) on the first instance, doubling to NZ$16,000 in the case of a second breach. Each additional breach would carry a NZ$24,000 fine. Those that fail to store trading information data would face first-time fines of NZ$12,000, which would double to NZ$24,000 in case of repetition. Additional infractions would be penalised NZ$32,000 per breach. The ministry's proposal, which was put to the climate change minister in October, follows the decision to implement stronger NZ ETS platform reporting requirements , agreed by the country's cabinet earlier this year. Additional proposals for NZ emissions units (NZUs) transacted on the secondary market would require trading platforms to keep records of trading information for seven years, and submit daily reports to the ministry with the price and volume of NZUs transacted on that day. Under the proposals, confirmed instances of NZU price manipulation could face criminal charges, potentially resulting in imprisonment not exceeding five years, or a fine lower than NZ$2.5mn. Misleading conduct without confirmed evidence would face fines proportional to the gain made or loss avoided. But they would not exceed NZ$1mn if an individual were facing the fine, or NZ$5mn in any other case. In addition to fines, the ministry would also publish the details of the entity committing the infraction and the status of the penalty, the briefing paper said. The penalty regime will be incorporated into a bill amending the country's Climate Change Response Act, alongside other market governance changes. The introduction of the bill to parliament was initially scheduled for late 2025 but has now been postponed, with a first reading expected in early 2026. By Kiara Campagne Nieva Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

EU's Hoekstra confident of CBAM export support

17/12/25
News
17/12/25

EU's Hoekstra confident of CBAM export support

Brussels, 17 December (Argus) — European climate and taxation commissioner Wopke Hoekstra is "absolutely" confident that EU member states will give "full" support to an EU-wide temporary decarbonisation fund for carbon leakage in industrial sectors covered by the bloc's carbon border adjustment mechanism (CBAM). This is despite the European Commission proposing that 25pc of CBAM revenues originally earmarked for national budgets now finance the CBAM fund. "We're not going to make this part of the EU budget. This is money that immediately is going to be spent on the companies of member states," Hoekstra told Argus , noting that the fund is helping EU states' own industries. Financing the fund may still be contentious, especially for EU countries. In addition to proposing that the fund be financed by revenues currently earmarked for EU states' budgets, the commission leaves untouched the remaining 75pc earmarked for the EU budget. Hoekstra said that CBAM's increased scope, expanded to downstream products, "roughly" equates to the financing required for the fund. "We did not try to design it exactly that way. But it is convenient because it makes the conversation with member states even easier," Hoekstra said. The European Parliament and EU member states are likely to amend the revised CBAM regulation and accompanying laws before adoption. Under the proposal, over 140 CN goods categories produced by EU-based manufacturers will receive support from the fund. The commission does not propose any differentiation between support given to manufacturers' EU exports and locally sold goods. The commission is proposing extending CBAM to certain steel and aluminium-intensive downstream products from the start of 2028. A further 180 CN custom duty codes will include some 7,500 new importers under the mechanism. A wide range of iron and steel products are proposed for inclusion, including stranded wire, ropes, cables, washing machines, sawing machines and even metal furniture. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

EcoCeres exports first SAF output from Malaysia's Johor

17/12/25
News
17/12/25

EcoCeres exports first SAF output from Malaysia's Johor

Singapore, 17 December (Argus) — Hong Kong-based biofuels producer EcoCeres has exported the first sustainable aviation fuel (SAF) volumes produced at its new hydrotreated biofuels plant in Johor, Malaysia, according to a company LinkedIn post and company sources. EcoCeres exported 10,000t of SAF last week, a company source said. The cargo was purchased by Mitsui Energy Trading Singapore (Mets), a subsidiary of Mitsui, and was loaded on a vessel that sailed from Tanjung Langsat and is bound for Europe, EcoCeres said in its LinkedIn post. The Medium Range vessel Stolt Glory loaded 10,000t of SAF from Tanjung Langsat on 5 December, and is due to reach Rotterdam in mid-January, according to Kpler data. But another company source declined to confirm if this was EcoCeres' cargo. The biofuels producer previously produced its first on-specification SAF volumes at Johor in October . The plant, which can produce a maximum of 420,000 t/year of SAF and hydrotreated vegetable oil (HVO), is now running at full rates, a company source said. The Argus fob ARA SAF price fell to nearly four-month lows of $2,247/t on 3 December, but has since risen slightly to $2,281/t as of 16 December. The decline was likely on the back of a lack of urgency among EU suppliers to fulfill mandates at the start of the new obligation year, although some volumes were traded this week , possibly because buyers were locking in deals in advance. EcoCeres also operates another 350,000 t/yr SAF and HVO plant in Jiangsu, China. By Sarah Giam Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Related Products

Argus Carbon

Argus Carbon

Carbon price benchmarks, policy and project news, and deep analysis, on a daily basis.
Find out more

Argus Low Carbon Hydrogen Strategy Report

Argus Low Carbon Hydrogen Strategy Report

Part Three: Americas. An in-depth analysis of the key sectors, countries and policies enabling hydrogen growth. 
Find out more

Argus Hydrogen and Future Fuels

Costs, prices, news and analysis for the hydrogen and P2X sectors

Find out more

Argus Low Carbon Hydrogen Strategy Report

Part Two: Europe and Africa. An in-depth analysis of the key sectors, countries and policies enabling hydrogen growth.
Find out more

Argus LNG Daily

Access the latest LNG spot price assessments, market news and independent analysis.
Find out more
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more