Farmers caution on EU fertilizers carbon tax
A carbon-border adjustment mechanism covering fertilizers but not EU agriculture would be "intolerable", European farmers' association Copa said ahead of a vote in the European Parliament tomorrow.
Parliament's environment committee last month suggested including fertilizers in a carbon-border mechanism, alongside other energy-intensive sectors such as power, refineries, metals and petrochemicals.
The European Commission is expected to propose a carbon measure by the end of June. Officials have not yet indicated whether fertilizers will be among the first sectors covered.
"If a border adjustment mechanism were to be added to this, the price of fertilizers would skyrocket, further increasing the cost of agricultural production in Europe, while making the use of imported food more competitive and attractive," Copa president Christiane Lambert said.
Fertilizers are more expensive in Europe than elsewhere because of EU customs duties and anti-dumping measures that cost European farmers €600mn/yr ($715mn/yr), Lambert said. Including fertilizers but not agriculture in a carbon-border adjustment mechanism would lead to "massive" carbon leakage from European agriculture, she added.
Industry body Fertilizers Europe, together with the steel and cement industries, has called on the commission to propose a carbon border but also to continue existing aid measures aimed at helping European energy-intensive industries cover the cost of carbon payments that their international competitors do not pay.
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Mosaic plant sustains minor damage from fire
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Houston, 28 March (Argus) — Florida-based phosphate and potash fertilizer producer Mosaic anticipates limited damage to a production plant near Tampa and minimal disruption to operations in the coming weeks following a brushfire on Monday. The brushfire ignited Monday evening during routine maintenance near Mosaic's Riverview phosphate production facility and was initially contained before rekindling Tuesday morning because of heavy winds. The fire was fully under control by Tuesday afternoon, according to local first responders. Mosaic told Argus on Tuesday the fire was not considered a threat to the facility initially, but now expects the plant sustained "limited damage to ancillary operations" and the impact could last between four to six weeks. The Riverview plant has a production capacity of 1.8mn metric tonnes (t) of processed phosphate products, and produces 30,000 t/week, according to Mosaic. The facility was producing phosphates primarily for exports to Brazil at the time of the fire, the company added. Smoke was observed Monday from the fire as a result of foam retardants used by local fire officials to cool the high-density polyethylene pipes. Polyethylene gas piping is often used for natural gas distribution. Natural gas flows delivered to the plant fell slightly Wednesday at 2.42mn cf/d, down from 2.45mn cf/d on Monday, once the fire was extinguished, according to data from Florida Gas Transmission. Flows at the plant on Thursday rebounded to 2.45mn cf/d, in line with expectations that affected phosphate output at the plant should only be temporary. By Taylor Zavala Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Australia to delay mandatory climate reporting to 2025
Australia to delay mandatory climate reporting to 2025
Sydney, 28 March (Argus) — Australia's biggest companies will likely face mandatory climate reporting from 1 January 2025, six months later than originally planned, according to a bill the Australian federal government introduced in parliament. Under the revised proposal, the country's largest companies and financial institutions will need to start disclosing their climate-related risks and opportunities, including scope 1 and 2 greenhouse gas (GHG) emissions, within their annual sustainability reports from 1 January 2025 instead of 1 July as previously intended . Scope 3 emissions disclosure will continue to be required from the second year of reporting. Companies will be arranged in three groups, with group 1 entities including companies meeting at least two of three criteria: more than A$500mn ($324mn) of annual revenues, over A$1bn of gross assets, 500 or more employees. Group 2 companies will have lower thresholds — above A$200mn of revenues, $500mn of assets and 250 employees — and will start reporting from the financial year starting on 1 July 2026. Reporting for group 3 entities — those with more than A$50mn of revenues, $25mn of assets and 100 employees — will begin from 1 July 2027. The 1 January 2025 start date might be pushed further to 1 July 2025, if the bill does not become law before 2 December. It will now be debated in parliament and needs to pass both houses, the Senate and the House of Representatives, before receiving royal assent. Its approval will support more investment in renewable energy as well as help companies and investors manage climate risks, the government said. Companies are currently not required to report their scope 3 emissions under Australia's National Greenhouse and Energy Reporting Act, which is used to measure and report GHG emissions and energy production and consumption. Scope 3 can include emissions within supply chains that occur inside or outside Australia, such as emissions from the combustion of Australian coal or LNG exported to other countries. By Juan Weik Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Brazil, France launch €1bn program to protect Amazon
Brazil, France launch €1bn program to protect Amazon
Sao Paulo, 27 March (Argus) — Brazil and France launched a four-year, €1bn ($1.1bn) investment program to protect the Amazon rainforest using private and public funds, the countries said on Tuesday as French president Emmanuel Macron is visiting the South American nation. "Gathered in Belem, in the heart of the Amazon, we, Brazil and France, Amazonian countries, have decided to join forces to promote an international roadmap for protection of tropical forests," the two countries said. Under the program, Brazil's public banks — such as the Bndes development bank — and the French development agency will form "technical and financial partnerships." The two countries also agreed to develop new research projects on sustainable sectors and create a research hub to share technologies to develop the bioeconomy. Macron and Brazilian president Luiz Inacio Lula da Silva visited Belem — near the mouth of the Amazon and the host city of Cop 30 — on 26 March. During the trip, indigenous leader and environmental campaigner Raoine Metuktire, of the Kayapo tribe, urged Lula to prevent construction of the 900km (559-mile) Ferrograo railroad , which could lower costs of transporting grains from Mato Grosso state, Brazil's largest agricultural producer. Macron will also visit Rio de Janeiro, Sao Paulo and capital Brasilia. This is his first trip to Brazil, as he had cut ties with the South American country during former president Jair Bolsonaro's administration. Bolsonaro put little focus on environmental protections during his term, policies that his successor has reversed. Brazil now aims to reach zero deforestation by 2030. It reduced deforestation in the Amazon by almost 50pc last year, according to government data. Deforestation in the region hit 196km² in January-February, a 63pc drop from the same period in 2023 and a six-year low, according to NGO Imazon, which focuses on research to promote climate justice in the Amazon. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Bridge collapse disrupts Baltimore UAN imports
Bridge collapse disrupts Baltimore UAN imports
Houston, 27 March (Argus) — UAN distributors near Baltimore, Maryland, are holding off from issuing new offers until it becomes clearer when the port there will reopen following its closure from a major bridge collapse. There is limited spot availability for UAN in Baltimore, market participants told Argus . At least one UAN vessel was due to arrive in Baltimore in April. Vessels delivering to Baltimore could be diverted elsewhere, possibly to ports like Chesapeake, Virginia, Philadelphia, Pennsylvania, or Wilmington, North Carolina. The east coast terminal UAN price — encompassing the US eastern seaboard — has risen by 13pc since the beginning of the year because of seasonal demand to $300/st fot on 29 February, where the price has held since. When offers for UAN in Baltimore do re-surface they will likely do so at higher levels because of restricted supply to the port. By Calder Jett Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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