Climate policy and UN Cop meetings
Overview
Argus provides key insights on how global climate policies will affect the global energy and commodity markets. We shine a light on decisions made at UN Cop meetings, which have far-reaching effects on the markets we serve. Progress at Cop 30 in Brazil will be crucial in transforming ambitions into actions aligned with the goals of the Paris Agreement. Countries must produce new climate plans this year.
Follow the key developments in energy transition field with our Net zero page and keep up to date with ongoing coverage of these issues by following Argus Media on LinkedIn and on X.
News
US Republicans seek vote on climate agreements
US Republicans seek vote on climate agreements
Washington, 29 January (Argus) — A group of US Senate Republicans wants to treat global climate accords as if they were formal treaties, a move that could make it difficult for a future president to rejoin the Paris agreement. Senator John Barrasso (R-Wyoming) and 23 other Republicans on Wednesday introduced a bill that would require any international climate agreement to be considered a treaty under the US Constitution and therefore need a two-thirds majority in the Senate for the US to join. This would include any attempt to re-join the Paris agreement, which was designed to avoid the need for a Senate vote. The bill also would prohibit the use of federal funds to support any agreement until it gets Senate ratification. The proposal is squarely aimed at a potential future Democratic president who would want to re-join the Paris agreement, as former president Joe Biden did at the start of his term in office. "Democrat administrations have a history of ignoring the will of the American people and bypassing Senate approval to unilaterally join costly international climate treaties," Barrasso said. "This will ensure the American people have the final say on where their tax dollars go." Barrasso and his colleagues introduced the bill just a day after US president Donald Trump's second withdrawal from the Paris agreement formally took effect . Trump also recently pulled out of dozens of organizations, including the UN Framework Convention on Climate Change, the Senate-ratified treaty under which the Paris agreement was negotiated, although there are questions as to whether he can do that unilaterally. While Republicans control the Senate with 53 seats, getting the bill through Congress could prove difficult, as it would likely need at least some Democratic support to get the 60 votes needed to bypass a filibuster in the Senate. The Republicans' slim majority in the House of Representatives would require them to prevent any of their members from voting against the bill. By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Slowing US EV market hits S Korean LGES' battery sales
Slowing US EV market hits S Korean LGES' battery sales
Singapore, 29 January (Argus) — A slowdown in the US EV market dealt blows to South Korea's top battery maker LG Energy Solutions' (LGES) electric vehicle (EV) battery shipments, the firm said today, as it laid out aggressive plans to push into the energy storage space. Its EV battery shipments fell by more than 10pc, pressured by slowing EV sales at major automaker clients and more cautious inventory management, the firm said in its latest quarterly earnings results on 29 January. Its revenue fell by 7.6pc from a year earlier to 23.7 trillion won ($16.6bn) during its 1 January-31 December 2025 financial year, with a 40pc jump in energy storage systems (ESS) battery revenue helping to cushion the blow. Operating losses narrowed to W122bn in October-December from W226bn during the same period a year earlier, and swung sharply from a profit of W601bn a quarter earlier. LGES now expects even more subdued EV market growth of over 10pc in 2026 following heavy US policy changes in 2025, its chief financial officer Lee Chang Sil said during the latest earnings call. The South Korean firm expects the short-term outlook for the EV market to be dim but defended its long-term prospects because of the emergence of robots and autonomous vehicles, it said during its earnings call in response to questions by analysts. Global ESS installations are expected to outpace the EV market and grow by over 40pc in 2026, potentially taking over half of North America's battery market demand, said the firm. Industrial electrification, climate-driven demand for cooling and heating, as well as the expansion of artificial intelligence (AI) and data centres, where more intense power consumption is raising renewable energy use, are all fuelling ESS demand, Lee added. The firm is seeking to tap on partnerships with North American grid utility customers to outperform its record-breaking orders of 90GWh in 2025. It started lithium-iron-phosphate ESS battery production in the US in 2025, having secured multiple ESS orders from US energy companies. Firm-wide ESS capacity could almost double on the year to 60GWh in 2026, it said. It can raise ESS capacity by unlocking over 50GWh of capacity through the repurposing of its existing EV lines, which has partly been carried out. Conversion of its idle EV capacity in Poland and joint ventures in North America for ESS production has been completed. Its Ochang lines in South Korea could contribute 5GWh if necessary, it added. LGES held a backlog of over 300GWh for its 46 series batteries and 140GWh in cumulative ESS orders as of the end of 2025. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Thailand EV boom drives auto market in 2025
Thailand EV boom drives auto market in 2025
Singapore, 29 January (Argus) — Thailand's auto output reached over 1.455mn units in 2025, exceeding its target, while battery electric vehicle (EV) registrations jumped by more than 50pc on the year, according to the Federation of Thai Industries (FTI). The vehicle production figure surpassed the target of 1.45mn units, although it still fell short of the previous year's output by 0.9pc, FTI said on 28 January. The 2026 target has been set at 1.5mn vehicles alongside 2mn motorcycles, supported by expectations of falling interest rates, strong foreign investment and an expanding EV market. Internal combustion engine passenger car production fell sharply by 29pc on the year to almost 248,000 units in 2025, as electrification momentum in the segment accelerated. Battery-electric passenger vehicle (BEV) production more than doubled on the year to 71,000 units. Hybrid passenger EV output rose by 12pc on the year to slightly over 214,000 units, while plug-in hybrid passenger EV production more than doubled to nearly 17,300 units. BEV registrations during the year rose sharply by nearly 53pc on the year to around 147,500 units, outpacing the nearly 137,600 units of hybrid EV registration. But cumulative hybrid EV registrations remain far higher at 605,000 units, compared with 372,600 units for BEVs. Major Chinese EV brands in Thailand have continued offering price cuts to entice buyers. A 200,000 Thai baht ($6,434), or 19pc, discount is being offered this year on major EV brand BYD's Atto 3 model, an advertisement by BYD's Chonburi showroom shows. A car dealer's January price list shows a 160,000 baht, or nearly 23pc, discount on Chinese EV brand SAIC's MG4 Electric D model. Thailand is also a major producer of pickup trucks, which account for the majority of its auto production, while electric trucks remain scarce. The country produced around 571,900 double-cab pickup trucks in 2025, but only 555 battery-powered double-cab pickup trucks. Thailand's National EV Policy Board earlier approved policy changes in an effort to avert a potential domestic EV supply glut. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EU-India FTA leaves CBAM untouched
EU-India FTA leaves CBAM untouched
Brussels, 27 January (Argus) — The free trade agreement (FTA) concluded with New Delhi does not provide for any exemption to the bloc's carbon border adjustment mechanism (CBAM), the European Commission confirmed today. "There is no commitment on the part of the EU to change our obligations with regard to the carbon border adjustment mechanism (CBAM), or grant India more favourable treatment," said Paula Pinho, chief commission spokesperson. She indicated that India's treatment under CBAM will not be more favourable than other states. CBAM is the EU's climate policy tool designed to impose a carbon charge on emissions embedded in specific imported goods, aiming to prevent "carbon leakage" by aligning import costs with EU carbon prices. The EU and India concluded FTA negotiations eliminating or reducing tariffs covering 96.6pc of EU goods exports to India on 27 January. Pinho further noted that there is an entire chapter in the FTA on climate change and decarbonisation. "We will cooperate with India on decarbonisation as well." Another senior EU official noted CBAM as one of the most contentious issues alongside steel and cars. During negotiations, India initially took a "very radical" stance on the EU's carbon border. But the FTA now opens the possibility for "technical dialogue" on CBAM. The official added that there is not an FTA chapter on raw materials or energy. The EU and India commit to launching, in the first half of 2026, a platform on climate action. And €500mn ($599mn) in EU support is "envisaged", over the next two years, to help India's efforts greenhouse gas (GHG) mitigation efforts. By excluding sensitive agricultural imports into the EU such as beef, chicken meat, rice and sugar, and issues related to deforestation, the EU-India deal is not expected to be as politically controversial in the European Parliament as the FTA with Mercosur countries — Argentina, Brazil, Paraguay and Uruguay. But EU officials point to a year-long process of formal EU adoption and entry into force beginning with legal revision, translation and publication of the FTA drafts. Following EU states' consent for the Commission to sign the FTA, EU law allows for trade deals under exclusive EU competence to be provisionally applied. But parliament has insisted on first giving consent. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Analysis
Fossil fuels shift talks to continue outside Cop
Fossil fuels shift talks to continue outside Cop
Developed countries struggled to lead, and oil producers pushed back, but a roadmap may emerge away from Cop, write Caroline Varin and Georgia Gratton Edinburgh, 28 November (Argus) — The UN climate Cop 30 summit in Belem, Brazil, ended last week without an agreement to establish a roadmap on how to shift away from fossil fuels that some countries had hoped to see, but the discussion will not stop there. Just over 80 countries , including EU member states, the UK, Australia, countries in Latin America and Africa, and island states had pushed for the overarching Cop 30 text to address the transition away from fossil fuels, the largest contributor to climate change, but language on a roadmap did not make the final decision. Opposition from major oil-producing countries proved too strong to push the roadmap through, European ministers said. Parties instead agreed on the launch of a "global implementation accelerator (GIA)", and the "Belem Mission to 1.5". These voluntary initiatives are aimed at "enabling ambition and implementation" of countries' climate plans and at keeping the Paris Agreement's 1.5°C temperature rise limit within reach. This refers to the more ambitious goal of the Paris accord — to hold the global rise in temperature to less than 2°C above pre-industrial levels, and preferably to 1.5°C. "Although text addressing the response [to a lack of climate ambition] was watered down, there are hooks to build on within the GIA and the Belem Mission to 1.5°C," environmental think-tank E3G said. By the end of the summit, 119 countries — accounting for 74pc of global emissions — had submitted new commitments in nationally determined contributions (NDCs), non-profit group WRI noted. But these plans, if delivered, only account for 15pc of the emissions cut required by 2035 to limit the rise to 1.5°C. As a consolation prize, the Brazilian Cop 30 presidency pledged to deliver roadmaps on the transition away from fossil fuel and on halting and reversing deforestation. This echoed Cop 29's outcome, when a roadmap was promised, for scaling up climate finance to $1.3 trillion/yr by 2025 for developing countries that were left disappointed. The roadmaps "will be led by science and they will be inclusive", summit president Andre Correa do Lago said. Brazil holds the presidency until Cop 31 in Turkey next year. In the interim, the country plans to convene high-level talks with key international organisations, fossil fuel-producing and consuming countries, workers and civil society, do Lago said. He also noted that the presidency would "benefit from the first international conference for the phase-out of fossil fuels", to he held in Colombia in April. Having the roadmap in the Cop 30 text would have sent a much stronger signal, as "the main text is an obligation for all", EU climate commissioner Wopke Hoekstra said as the summit closed. But the presidency's work on a roadmap, high-level dialogues and the event in Colombia will create further milestones for climate discussions on the transition from fossil fuels, observers said. The presidency's roadmap could create momentum for the start of a plan on fossil fuels from willing countries, even though it sits outside official Cop negotiations. Fault lines The pushback from major oil and gas producers on cutting emissions by reducing fossil fuel use — evident at Cop 29 last year — grew firmer in Belem, and shows no sign of abating. The achievement at Cop 30 was not to renege on the Cop 28 consensus, French climate minister Monique Barbut said. Almost 200 countries pledged at Cop 28 in Dubai in 2023 to transition away from fossil fuels "in a just, orderly and equitable manner… so as to achieve net zero by 2050 in keeping with the science". The Cop 28 outcome also called for renewable energy capacity to triple and energy efficiency to double by 2030 and for "accelerating efforts towards the phase-down of unabated coal power". The main Cop 30 text does not mention the transition away from fossil fuels, and only makes two references to the Cop 28 deal — dubbed "the UAE consensus". Even pointing to the energy package within the Dubai deal agreed two years ago proved too much for some oil-producing countries. "The [UN climate body] UNFCCC's consensus-based process, as well as the lack of a concrete proposal to create the framework for developing countries to phase out fossil fuels, hindered the adoption of a roadmap in the Cop cover decision text," the Fossil Fuel Treaty Initiative said. The final day of Cop 30 — which ran more than 24 hours over time — saw decisions swiftly adopted. But Colombia spoke out against one, objecting that it included no language on the transition away from fossil fuels. "We are demanding the minimum necessary," Colombia's representative said, to "allow language already agreed under [Cop 28] consensus to be discussed here". Confounding the consensus Correa do Lago suspended the plenary while the Cop 30 presidency sought a solution. Decisions adopted at Cop summits cannot be revoked. But Correa do Lago said countries will be able to discuss issues in June next year in Bonn, Germany, at interim climate talks hosted annually by the UNFCCC. Colombia's intervention prompted pushback from Saudi Arabia and a furious response from Russia. The latter told countries objecting to "refrain from behaving like children". India's representative said reopening discussions would be "fundamentally unfair" and "inconsistent" with UNFCCC process. Russia, India and Saudi Arabia throughout the summit opposed the addition of wording on fossil fuels, according to Barbut. Saudi Arabia reiterated throughout Cop 30 that the focus should be on reducing emissions, not on specific fuels. And the climate-sceptic stance taken by US president Donald Trump's administration emboldened major oil-producing countries to stand their ground more firmly this year, many negotiators and observers said. Developed nations were not forceful, at least in the first week of the negotiations, in their support for a roadmap to shift away from fossil fuels. The EU called it a "difficult topic" and was caught in controversial domestic discussions on its own targets and environmental ambitions before heading to the summit, which may have weakened its claims to leadership. Australia, which will preside over Cop 31 negotiations in Turkey next year, at first could not see a space for discussing the roadmap in Belem. And even though over 80 countries had thrown their weight behind the topic by the midpoint of the summit, details on what it would look like were lacking. China, the world's largest greenhouse gas emitter, remained largely quiet on the topic outside negotiating rooms, redirecting attention towards renewable energy — a huge market for the country. Discussions on the transition away from fossil fuels were not expected to take centre stage at Cop , until Brazilian president Luiz Inacio Lula da Silva called for this during the leaders' summit that preceded the talks. Leadership came from developing nations, notably Colombia. And there has been an eye-catching change at this Cop in how some developing countries are reframing rhetoric around fossil fuels and economic development. Some, including those with oil projects such as Kenya and Sierra Leone, are increasingly pushing for plans to shift away from fossil fuels — in a just, equitable and orderly manner — and highlight the importance of drastically increasing energy access through the transition. A Cop 30 decision addressing "the just energy transition" was broadly well-received. The text drew links between cutting emissions and ensuring climate resilience and positive economic development. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Mexico climate pledge clashes with refinery push
Mexico climate pledge clashes with refinery push
Houston, 13 November (Argus) — Mexico's updated climate pledge sets its most ambitious emissions target, but the plan sits in sharp contrast to the government's push to increase crude processing and fuel output at state-owned Pemex's refinery system. Mexico submitted its new nationally determined contribution (NDC) ahead of this month's UN Cop 30 summit in Belem, Brazil, committing for the first time to an absolute cap on greenhouse gas emissions of 364–404mn t of CO2 equivalent (CO2e) by 2035, or 332–363mn t CO2e with international support. The target represents a cut of more than 50pc from a business-as-usual trajectory, according to the environment ministry, and aligns with Mexico's long-term commitment to reach net zero by 2050. But while Mexico promises steep emissions reductions, it is simultaneously doubling down on a fossil-heavy industrial strategy centered on reviving its aging refining system, boosting domestic output of gasoline and diesel and limiting private-sector participation across the downstream chain. Mexico's refineries — most of which regularly run at below 50–60pc of capacity — remain among Mexico's largest stationary emitters, with high rates of flaring, residual fuel oil production and energy inefficiency. The government has also poured billions of dollars into the new 340,000 b/d Olmeca refinery and continues to prioritize increasing crude throughput at the legacy system, even as maintenance shortfalls, outages and unplanned shutdowns remain common. Pemex processed about 950,000 b/d of crude across its seven domestic refineries in September, up by 8pc from a year prior and 57pc higher than the 604,300 b/d processed in September 2018, before former president Andres Manuel Lopez Obrador took office. Mexico's refining-heavy strategy took shape under Lopez Obrador, who made fuel self-sufficiency the centerpiece of his administration after years of under-investment and declining output at Pemex's refining system. His government moved away from the 2014 energy reform and proposed constitutional changes that would free Pemex from its obligation to operate as a "productive state company." The shift enabled greater political influence over Pemex's operations and reinforced a nationalistic focus on refining, even as the company posted financial losses and saw its crude output fall to 40-year lows. President Claudia Sheinbaum's administration has continued that trajectory. Backed by a congressional supermajority that allows her party to advance Lopez Obrador's reforms, Sheinbaum has maintained the emphasis on fuel self-sufficiency and continued to expand Pemex's role through increased state support. Mexico's NDC frames climate policy as compatible with economic development, job creation and "just transition" principles. But the plan is still vague on specific mitigation actions for the refining sector. "Mexico's ambition is clear, but delivering on these goals will require deep structural transformation and a clear, sustained investment strategy," said Francisco Barnes Regueiro, executive director of the environmental non-governmental organization the World Resources Institute in Mexico. Meanwhile, the government maintains policies and proposed reforms that favor Pemex and state utility CFE over private-sector companies, limiting private investment in cleaner fuels and renewable electricity. The lack of incentives for low-carbon technologies, combined with an aggressive push to increase domestic production of gasoline and diesel, contradicts the technical requirements implied by the emissions cap, according to market sources. The contradiction becomes more pronounced as Mexico prepares for the Cop 30 negotiations. Mexico, which now joins more than 50 countries that have updated their NDCs, will likely face scrutiny over how its energy agenda fits within its climate ambitions. For now, the gap between Mexico's stated targets and its refining-focused policy framework remains wide. Without clear measures to reduce emissions from Pemex's refining system, expand low-carbon fuels and introduce stronger regulatory incentives, the new NDC risks becoming another aspirational document. Pemex's crude throughput '000b/d Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Can Cop summit help industry restore H2 momentum?
Can Cop summit help industry restore H2 momentum?
Brazil's renewable resources, sound economy and supportive policies could make it a powerful advocate for green H2, writes Pamela Machado Paris, 4 November (Argus) — The Cop 30 UN climate summit kicks off in a few days in Brazil against a backdrop of slowing global energy transition momentum and outright hostility from US president Donald Trump's administration to policies aimed at tackling climate change. Hydrogen has not been immune to these trends. Recent Cop summits have given the industry a platform to showcase its decarbonisation potential, but hydrogen is expected to receive a more modest hearing when delegates gather in Belem, reflecting the more downbeat global mood and the industry's slow development. This year has seen nothing like the level of final investment decisions (FIDs) for hydrogen projects that was anticipated at the start of 2025, as a combination of familiar issues — policy uncertainty, infrastructure bottlenecks and difficulties securing offtake agreements — have hindered progress for many schemes. The hydrogen sector is going through an "era of maturation and is moving from ambition to delivery — a transition similar to what solar, wind and battery industries have gone through as well", says Ivana Jemelkova, chief executive with lobby group the Hydrogen Council. This phase is "inevitably paired with attrition", Jemelkova tells Argus, with only projects demonstrating "the strongest business cases" able to line up enough financing and support to move forward. But Cop still offers an opportunity, she says — the "perfect place to advance practical solutions" to address challenges with mechanisms such as contracts-for-difference (CfD), national mandates and to set up "alliances to aggregate demand in sectors like fertilisers". Countries with renewable power potential — particularly emerging economies — have also used recent Cop summits to unveil clean hydrogen production ambitions, but momentum has slowed this year in regions such as Latin America and sub-Saharan Africa as companies have scaled back production goals and import ambitions . Emerging talent This is another area where Cop offers a chance for revival, Jemelkova argues. "As of 2025, 65 ... countries have a hydrogen strategy, of which 29 are emerging economies," she says. "This year's update of nationally determined contributions provides an opportunity to set detailed hydrogen targets." So far, there have been few signs that hydrogen will play a greater role in countries' plans, however, and the focus might lie elsewhere, given the sector's slower-than-expected progress. Brazil has used its presidency to promote hydrogen for clean industrialisation. It has announced several funding schemes, partnering with international bodies, including UN industrial development organisation Unido and the Green Climate Fund over the last year. But these initiatives have yet to yield any FIDs. International non-profit industry decarbonisation programme Industrial Transition Accelerator (ITA) chose Brazil as its first focus country because it combined government ambition, economic fundamentals and a promising project pipeline. ITA is working with 15 projects in Brazil and had hoped that some of these would reach FID ahead of the summit, but none is now expected this year. While projects reaching FID "would be a powerful symbolic accomplishment, if they cannot quite do so in time for the event, it is not a fundamental cause for concern", ITA says, as the programme's goal "is not just about individual FIDs", but also about overcoming systemic obstacles, such as high financing costs. Brazil's broader agenda as Cop president has included a pledge for nations to increase production and adoption of sustainable fuels, which seems likely to emphasise biofuels more than hydrogen-based alternatives. But planned Cop talks on increasing renewable power generation and integrating carbon markets into a global system should promote the uptake of hydrogen and derivatives, even if indirectly. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Cop 30 success hinges on GHG cuts, finance response
Cop 30 success hinges on GHG cuts, finance response
Edinburgh, 3 November (Argus) — The UN Cop 30 climate summit's success will depend on how Paris agreement parties close huge gaps between ambitions and actions for cutting emissions and bolstering finance. But the shape that this response should take is still unclear. Leaders are heading to Cop 30 on 6 November in Belem, Brazil, with the responsibility of putting the world on track to meet the goals of the Paris agreement, 10 years after it was signed. Brazil, which holds the summit presidency this year, wants to see concrete signals from parties on implementation. New nationally determined contributions (NDCs) — climate plans — due to be submitted to the UN by Cop 30 are a clear measure of progress. But only around 65 countries, out of just under 200, had submitted new plans and targets to 2035 by the end of October. More, including India, South Korea and Mexico are working on it. If implemented, plans revealed to the end of last month — which include targets from China and the EU, but not their NDCs — could contribute to cut greenhouse gas emissions by 10pc by 2035, compared with 2019 levels, according to the UN. China released its NDC on 3 November. The reductions only account for around 10pc of what is needed to put the world on track to stick to the 1.5°C temperature limit by 2035, non-profit World Resources Institute (WRI) says. "It's now for Cop 30 and for the world to respond and show how we are going to speed up," UNFCCC executive secretary Simon Stiell said. The Brazil presidency intends to help parties rise to the challenge, armed with the historic global stocktake (GST) agreement that countries agreed at Cop 28 in Dubai two years ago and its action agenda . But, unlike the two last Cops, which tackled big headline issues — the GST in Dubai, where the call to transition away from fossil fuels was made, and the new international public finance goal in Baku — Belem will have to seek progress on myriad topics, with key ones outside of its official scope. The NDCs, although central to the negotiations, do not figure on the Cop agenda, and parties continue to disagree on how they should react to the current lack of ambition. The same goes for unilateral trade measures and the much-awaited "Baku to Belem roadmap" aiming to scale up finance to developing countries to $1.3 trillion/yr by 2035 — a compromise reached after developing nations, including India, decried the Baku outcome . Fights over these topics could delay or even derail other negotiations. The presidency will have to support parties with advancing adaptation — a key Cop 30 mandate — and loss and damage talks, and by pursuing work on Cop's just transition programme and implementation of the GST, where mitigation topics, most critically transitioning from fossil fuels , are likely to prove contentious again. Paris match "We can't have one response to the implementation and ambition gap. It needs to be a series of responses because it has to work not only for different actors, different geographies, different communities, but also for different economic sectors", Cop 30 strategy chief Tulio Andrade said. The Cop presidency wants stakeholders to see the "complex response" as a "bundle of responses" coming from the negotiations, but also the action agenda and initiatives it has launched and partnerships, including with scientists. But these will have to materialise in an increasingly challenging geopolitical context, and while US president Donald Trump, who took his country out of the Paris agreement in January, is dialling up anti-climate opposition in multilateral forums . It is unclear which role the US, which did not send a delegation to the Bonn climate talks in June, will play in Brazil, but its influence will be felt. The US is the world's second largest GHG emitter after China. "Our main priority will be to have Cop 30 sending a very strong signal in support of multilateralism and the 10-year anniversary of the Paris agreement. But we know it's not the best moment [geopolitically]," Andrade says. In terms of concrete deliverables, he says, "it is an outcome that preserves and strengthens the legacy of what we have achieved so far and that accelerates implementation in response to urgency". By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Country focus
Cop: Denmark commits to new 2035 climate target
Cop: Denmark commits to new 2035 climate target
London, 17 November (Argus) — Denmark has committed to a new, "very ambitious" climate target for 2035, to cut emissions by 82pc by 2035, from 1990 levels, the country's climate minister Lars Aagaard said today at the UN Cop 30 climate summit. Denmark was expected to communicate a 2035 target this year. It has a legally-binding target to reduce emissions by 70pc by 2030, from the same 1990 baseline. This new target for 2035 will be "binding", Aagaard said today. Independent advisory body the Danish Council on Climate Change previously found that under the country's current climate policy, projections indicate that Denmark would achieve emissions reductions of 78pc by 2035, from 1990 levels. Denmark's new target for 2035 goes beyond the EU's aim for the same timeframe. The bloc earlier this month finally reached agreement on climate goals for 2035 and 2040. It plans to cut emissions by 66.25-72.5pc by 2035, from 1990 levels. Denmark holds the rotating EU Council presidency until the end of the year. Aagaard has thus overseen much of the bloc's discussions of and decisions on new climate targets. Signatories to the Paris climate agreement are expected to establish new climate goals and submit plans, known as nationally determined contributions (NDCs), every five years, under the terms of the accord. Countries and jurisdictions are currently submitting NDCs for 2035, although these lack ambition to hit Paris-aligned targets . By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Cop: California 'doubling down' on climate
Cop: California 'doubling down' on climate
Houston, 10 November (Argus) — California is "doubling down" on its climate policies and goals to mitigate the impact of policy shifts by US president Donald Trump, California state senator Josh Becker (D) said at the UN Cop 30 climate summit in Belem, Brazil. Becker indicated the state is still moving forward on its response to climate change, despite ongoing opposition from the federal government, including to the state's ability to regulate vehicle emissions, in a discussion on Monday around California's climate leadership under the Trump administration. Becker touted the continued emissions reductions for California's economy, which fell 3pc to 360.4mn metric tonnes (t) in 2023 from the prior year, primarily around transportation, the state's largest emitting sector, according to state data released last week. But California is still looking to keep momentum going, including reducing vehicle emissions after the Trump administration signed three congressional resolutions earlier this year to repeal EPA waivers for the state's own tailpipe CO2 rules. "Even though they took away our waiver to regulate transportation, we are now working with our air resources board to come up with legislation for next year to figure out a way around that," Becker said. The EPA previously granted a waiver allowing California to ban gas-powered vehicle sales by model year 2035, known as Advanced Clean Cars II (ACC II), along with mandates for zero-emission truck sales and more-stringent nitrogen oxide emission standards during former-president Joe Biden's administration. California, as part of a state coalition, is in ongoing legal disputes with the federal government and automotive manufacturers over the removal of its tailpipe waivers. But while the courts deliberate, the California Air Resources Board (CARB) is weighing measures the state could take to keep the transition away from fossil fuel-based vehicles on track. CARB plans to consider adopting emergency regulations that would allow it to use tailpipe regulations built on previous federal waivers in a hearing later this month. California has had some climate successes this year despite federal headwinds, including the state legislature's extension in September of its "cap-and-invest" program to 2045. The program, which was previously set to end in 2030, will bring in roughly $5bn/yr that California can use for investments in programs and policies targeting emissions mitigation and climate change adaptation and resilience, Becker said. Becker held up the growing portfolio of clean electricity within the state, now 70pc from zero-emission sources, and the CARB's development of corporate climate disclosures as part of the state's ongoing climate policy efforts. California is seeking a 40pc reduction in emissions, compared to 1990 levels, statewide by 2030, and net-zero emissions in 2045. By Denise Cathey Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Canada set to scrap oil and gas emissions cap
Canada set to scrap oil and gas emissions cap
Calgary, 4 November (Argus) — Canada is prepared to scrap its planned oil and gas emissions cap provided other technologies like carbon capture and storage (CCS) grow "at scale", the government said today. A proposed cap-and-trade system to reduce greenhouse gas (GHG) emissions from its oil and gas sector by 35pc compared to 2019 levels is likely to be abandoned, according to the federal government's 2025 budget released on Tuesday. The budget unveiled by finance minister Francois-Philippe Champagne in the House of Commons comes against a backdrop of significant uncertainty for the country. A lagging economy and punitive tariffs from the US have prompted Canadian politicians to rethink the country's industrial policy, including climate initiatives that the oil and gas sector says stifles investment. The oil and gas emissions cap would "no longer be required as it would have marginal value in reducing emissions" if there are effective carbon markets, enhanced oil and gas methane regulations and deployment at scale of technologies such as CCS, according to the budget. But as it stands, producers of oil, natural gas and liquefied natural gas will need to meet the emissions cap target by 2030-32, following a four-year phase-in from 2026-29. Alberta, Saskatchewan and Ontario provincial governments have long opposed the proposal, with Alberta premier Danielle Smith arguing that it would have capped production in the province. Smith said in 2024 that the province would pursue a constitutional challenge against the federal cap in its provincial court. The sector produces the lion's share of Canada's emissions, at 208mn metric tonnes of CO2 equivalent in 2023, according to the latest federal data available. If built, Pathways Alliances' C$16.5bn ($12bn) CCS project could sock away up to 22mn t/yr of CO2 by 2030 and make a meaningful step in offsetting greenhouse gas emissions by Canada's oil and gas sector. Prime minister Mark Carney has said decarbonizing Canadian oil — found mostly from Alberta — is a key component in getting another crude pipeline approved to the Pacific coast. But an existing tanker ban on the northwest coast of British Columbia represents yet another impediment for any company interested in building such a pipeline. The government also plans to update the controversial greenwashing law that came into effect in June 2024, according to Tuesday's budget. Oil and gas companies said the law is both vague, invites "meritless litigation" and prohibits discussion on their climate-related investments and plans. Carney's Liberal party hold a minority in the house — 169 of 343 seats — and will need support of other parties to pass the budget. By Brett Holmes and Denise Cathey Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
New Zealand announces ETS, climate law changes
New Zealand announces ETS, climate law changes
London, 4 November (Argus) — The New Zealand government announced on Tuesday draft changes to the emissions trading scheme (NZ ETS), including provisions that will help recognize carbon removal in the future, as well as changes to the climate change response act. Among the draft NZ ETS proposal are changes in how the government reviews companies' industrial allowance allocations, which is aimed at reducing barriers for firms to invest in decarbonization projects. The ETS settings decisions will become a biennial process going forward, instead of the current annual review, although this new rule will not affect the annual decision planned for 2026. The government is also removing a provision within the country's climate change act that requires NZ ETS unit volumes and price control regulations to accord with the nationally determined contributions under the UN's Paris Agreement on climate change. Changes to the operation of the ETS scheme include: adding the import of carbon dioxide in the NZ ETS; administrative changes to penalty repayment rules managed by the environmental protection authority; allowing flexibility for foresters to re-establish forests after significant disruptions such as severe weather events; and minor adjustments such as extending deadlines after major disruptions and allowing for discretion to waive ETS penalties in some instances. The government has also been "exploring opportunities to recognize and reward non-forestry removals" and is "progressing work" on releasing an assessment framework for carbon removals which will guide developers on the scientific evidence needed to gain removals credits and clarify the pathway for crediting new activities in the ETS. It is also working to amend the climate change law to add "carbon removal activities" as an activity that can be recognized under the NZ ETS — although this change would not outright grant recognition but rather pave the path for this happening in the future, it said. The government is also updating the guidance for the voluntary carbon markets in 2026 and stakeholders will be able to submit projects for assessment in the first half of 2026. The New Zealand government said on 4 November it was making these changes to "ensure" the climate change law "is working well and as intended." These follow the completion of a review earlier this year. It delayed the due date for government organizations to become carbon neutral to 2050, from 2025 which was "too soon" to meet this target. While buying offset credits could have been an alternative to achieve this, there are not enough such credits in the local market available to meet such demand, it said. The Climate Change Commission will no longer be required to advise the government on emissions reduction plans (ERPs), although the commission will continue to provide advice on the five-yearly emissions budgets and the annual emissions reduction monitoring report — with the latter's timing brought forward to April, to align it with the timing of the annual release of emissions projections. The new rules will also allow more flexibility on the process for amending or replacing ERPs and the related policies and strategies, by removing the requirement to consult on such changes. The amendment bill to the climate change act will be submitted in 2026, although the change to remove the requirement for ETS settings to accord with NDCs will be adopted by the end of the current year, the government said. A separate amendment bill will also be introduced and adopted before the end of 2025 to bring recently announced updates to the 2050 biogenic methane target into law, it said. By Erisa Senerdem Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.