Generic Hero BannerGeneric Hero Banner
Latest Market News

Deforestation in Brazil's Amazon plunges 31pc

  • Spanish Market: Emissions
  • 07/11/24

Deforestation in Brazil's Amazon biome plunged by around 31pc over the 12 months ending in July — the sharpest decline in over 15 years — bringing the country closer to meeting its target of eliminating deforestation in the region by 2030.

Brazil lost 6,288km² (2,404mi²) of Amazon rainforest from August 2023-July 2024, a 31pc decline from 9,064km² in August 2022-July 2023, according to the science and technology ministry's national space institute INPE. The fall in deforestation marks the third consecutive decline in deforestation in the Amazon, after devastation in the region reached a multi-year high of 13,038km² in 2020-21.

With the decline, deforestation in the biome reached its lowest level since 2015, when the region recorded losses of 6,207km².

Deforestation fell steeply in all of the largest states in the legally defined Amazon region — known as Legal Amazon — except for Roraima, according to data compiled by the Amazon deforestation satellite monitoring system (Prodes).

The Legal Amazon contains the nine states in the Amazon basin: Acre, Amapa, Amazonas, Para, Rondonia, Roraima and Tocantins, as well as most of Mato Grosso and Maranhao states. It contains all of Brazil's Amazon biome, 37pc of the cerrado tropical savanna biome and 40pc of the pantanal biome.

Para state continued to lead in deforestation with 2,362km², accounting for 37.5pc of total deforestation in the biome. But this year's figure was 28pc lower than the 3,299km² in the prior period.

Amazonas state posted the second largest deforestation in the period, with losses reaching 1,143km², accounting for 18pc of the total area of forest lost. Deforestation there fell by 29pc in the 2023-24 cycle from a year earlier.

Mato Grosso, Brazil's largest grain-producing state, cut 1,124km² of forests, down by 45pc from the 2,048km² in the previous cycle.

The government attributed the decline to increased oversight in the region, with the number of fines issued for illegal deforestation nearly doubling from 1 January 2023 — when president Luiz Inacio Lula da Silva took office — and October this year, compared with the period between January 2019-December 2022.

The government also highlighted that deforestation was down in 78pc of the 70 municipalities that were declared priority regions by the administration earlier this year. The government announced R730mn ($129mn) in funding to reduce environmental devastation in these municipalities in April.

The government also reduced deforestation in the cerrado by nearly 26pc to 8,174km² in the period. That is the lowest level since 2019 and the first time deforestation in the biome has declined in four years.

With the reduction in deforestation, Brazil's 2023 emissions fell by 12pc to 2.3bn tons of CO2 equivalent (t CO2e) from 2.6bn t CO2e in 2022, according to Brazilian climate think tank Observatorio do Clima.


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.

15/07/25

New Zealand releases national fuel security plan

New Zealand releases national fuel security plan

Sydney, 15 July (Argus) — New Zealand's centre-right coalition government has released a draft plan to make its fuel supply chains resilient and invited feedback from the local stakeholders and industry on the proposals. New Zealand wants to guard against supply disruptions, improve domestic infrastructure, develop low-carbon fuel alternatives locally and transition to new energy technologies in the next decade. Public submissions on the plan open 15 July and run until 25 August. Special economic zones have been mooted to provide tailored regulatory areas for developers of biofuels and other alternatives such as hydrogen to ease investment hurdles. The draft comes after New Zealand pledged to increase legally required fuel reserves and mandate that more jet fuel is kept at Auckland airport — the nation's busiest. Earlier this year, a government study found that reopening the shuttered 135,000 b/d Marsden Point refinery to ensure fuel supply could cost the country billions of dollars and take years to complete. Instead, it was recommended that the government find alternative solutions to securing supply like increasing in-country reserves and developing biofuels. The Marsden Point refinery supplied about 70pc of New Zealand's fuel requirements before it was transformed into an oil products import terminal in 2022. As New Zealand's transport sector starts adopting electric vehicles, gasoline consumption will diminish. Diesel demand will taper off by 2035 while the jet fuel market is expected to grow for the foreseeable future due to a lack of alternatives currently, the draft said. Sustainable aviation fuel (SAF) could eventually form part of New Zealand's energy mix. New Zealand's gasoline imports totalled 53,000 b/d in January-March , diesel imports were 71,000 b/d and jet fuel 33,000 b/d, according to the country's business, innovation and employment ministry. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump amplifies attacks on renewable energy


14/07/25
14/07/25

Trump amplifies attacks on renewable energy

Washington, 14 July (Argus) — President Donald Trump is ratcheting up criticism of wind and solar projects he says are a "blight", adding uncertainty for investors deciding which projects can still move forward despite the coming end to most of the industry's clean energy tax credits. Trump mounted one of his most expansive attacks yet on the renewable sector last week. For years, Trump has detailed his disgust for wind farms he sees as unsightly and too expensive, whereas he said he was a "big fan of solar" in last year's presidential debate. But Trump's perspective appears to have shifted. He now believes large solar projects are hated by farmers, "very, very inefficient and very ugly too", and should no longer be built. "We don't want wind, and we don't want solar, because they're a blight on our country," Trump said during a cabinet meeting on 8 July. "They hurt our country very badly." That stance offers another troubling sign for investors in wind and solar projects hoping to qualify for the 45Y and 48E clean energy tax credits before they are terminated under Trump's recently signed tax and energy law . Trump already signed an executive order last week seeking a "strict" interpretation of the end of those tax credits, such that fewer projects will meet a safe harbor deadline that will arrive as soon as 31 December. The administration has other potential tools to undermine wind and solar projects, many of which are depending on new electric transmission lines to connect to load centers. Last week, US senator Josh Hawley (R-Arkansas) said he had received assurances from US energy secretary Chris Wright that the administration would be "putting a stop" to the 800-mile Grain Belt Express transmission line, which would connect wind farms in Kansas to the eastern US. Last month, Wright said he sees intermittent power sources as a "parasite on the grid". The Energy Department did not respond to a request for comment. The Energy Department, in a document released this month, indicated it did not plan to spend $383mn that had already been appropriated for wind and solar projects this fiscal year under a bipartisan funding law Trump signed, a unilateral spending reduction that US senator Patty Murray (D-Washington) and US representative Marcy Kaptur (D-Ohio) said was "outrageous" and unlawful. The Trump administration also temporarily halted construction of the fully permitted Empire Wind project off the coast of New York, before allowing work to continue in May. US interior secretary Doug Burgum last month said in congressional testimony that the administration was reviewing "all offshore wind projects" and said there was "no appetite" for adding more "intermittent, unreliable [power] to the grid." Threat to dominance Democrats say attempts to undermine wind and solar will be counterproductive to Trump's own priorities of "energy dominance" because they are among the limited types of projects that can be brought on line quickly. US utility executives and data center developers have said they are facing wait times of three years or more for delivery of turbines for gas-fired turbine, given a surge of global demand for electricity needed for artificial intelligence. "There's a backlog of gas turbines, and geothermal and nuclear takes many years. Nothing else is ready," US senator Brian Schatz (D-Hawaii) said in a social media post last week. "Republican energy policy is to create shortages because they think solar is liberal." Clean energy groups are hoping that Republican lawmakers will pay a political price for voting to cut clean energy tax credits through Trump's recently signed tax and energy law. The industry group Clean Energy for America last week said it launched a billboard advertising campaign that it said was targeted against seven House Republicans who voted for the law. "We're making it clear who is responsible when constituents lose their jobs and find that their monthly electricity bill is higher than they can afford," Clean Energy for America president Andrew Reagan said. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

UK temperatures on clear upward trajectory: Met Office


14/07/25
14/07/25

UK temperatures on clear upward trajectory: Met Office

London, 14 July (Argus) — UK temperatures are on a "clear upward trajectory", having continuously risen at a rate of about 0.25°C per decade from the 1980s, or 1°C in 40 years, the country's weather agency the Met Office said today. The past 10 years — 2015-24 — were 0.41°C warmer than 1991-2020 and 1.24°C hotter than 1961-1990, the Met Office found. Over a longer timeframe, historical data show that the 21st century "so far has overall been warmer than any period of equivalent length within the previous three centuries", the Met Office said. The period 2001-2024 was 1.0°C hotter than 1901-2000, and 1.3°C above 1801-1900 and 1701-1800, its data show. The agency has comprehensive temperature and rainfall data extending back to the 19th century, as well as the Central England Temperature series, which dates back to 1659 and is the world's longest continuous instrumental temperature record. Weather extremes have also become "increasingly commonplace" in the UK, particularly for heat and rainfall, the Met Office said. The UK has experienced a steady increase in rainfall since the 1980s, while the hottest summer days have warmed "around twice as much as average summer days", from 1961-1990 to 2015-24, it found. And sea level rise around the UK "is accelerating", the Met Office noted. The sea level around the UK has risen by about 19.5cm since 1901, "with two-thirds of this rise happening in just over the last three decades", it said. "This pace of change and clustering of consecutive records is not a natural variation in our climate. Numerous studies have shown how human emissions of greenhouse gasses are warming the atmosphere and changing the weather we experience on the ground," Met Office climate scientist Mike Kendon said. The UK government "remains steadfast in its commitment" to several multilateral climate and environment agreements, it said today. The government reiterated the steps it is taking to tackle climate change — largely based around cutting emissions and restoring nature. UK warming is consistent with the global increase in surface air temperatures, the Met Office said. The World Meteorological Organisation said in May that record-high global temperatures are likely to continue . By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil's Bndes eyes carbon certificate program


14/07/25
14/07/25

Brazil's Bndes eyes carbon certificate program

Sao Paulo, 14 July (Argus) — Brazil's Bndes development bank is working to create a carbon certificate program in Brazil, president Aloizio Mercadante said on 10 July. "If we are a large provider of funds for strategic resources, we must fight and work for a certificate," Mercadante said, without giving details of what type of carbon credit the program would certify. Bndes is a large investor in energy transition and decarbonization initiatives. The bank has funded several reforestation startups to recover degraded areas in some of Brazil's largest biomes, such as the Amazon rainforest and the Atlantic forest . In March the bank and state-controlled Petrobras launched a carbon credit hiring program to boost reforestation initiatives in Brazil. Reforestation is one of Brazil's flagship themes for the UN Cop 30 summit, which the country will host in November. Regulations required to put Brazil's regulated carbon emissions market into force have advanced slowly since congress passed legislation in late 2024, but this year may speed several key pieces . Many participants are asking for specific regulations suitable to regional dynamics and say they will take advantage of both technology- and nature-based credits. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

DOE to halt wind transmission line: US senator


11/07/25
11/07/25

DOE to halt wind transmission line: US senator

Houston, 11 July (Argus) — President Donald Trump's administration has pledged to halt an 800-mile transmission line designed to deliver wind power from Kansas to eastern states, according to a US senator. US energy secretary Chris Wright has said he "will be putting a stop" to the Grain Belt Express transmission line, senator Josh Hawley (R-Missouri) said on Thursday via the X social media platform. Hawley has made repeated calls for the Department of Energy (DOE) to cancel a $4.9bn conditional loan awarded to the project in the waning days of former president Joe Biden's administration. The senator has called the project an "elitist land grab harming Missouri farmers and ranchers". Whether Wright pledged to rescind the loan or take other action to stop work on Grain Belt Express was not immediately clear from Hawley's statement. Neither the senator's office nor DOE immediately responded to requests for additional information. Hawley's statement is "bizarre", according to Invenergy, the Chicago-based developer behind the project. The company said that the transmission line has already received approvals from all four states that it will traverse, acquired 1,500 agreements with landowners tied to construction and announced "significant" supply chain agreements for materials sourced domestically. "Senator Hawley is attempting to kill the largest transmission infrastructure project in US history, which is already approved by four states and is aligned with the president's energy dominance agenda," the company said. The Grain Belt Express would deliver wind power from Kansas to converter stations in Missouri and Indiana, with the Missouri station connecting to grids overseen by the Associated Electric Cooperative and Midcontinent Independent System Operator (MISO), while the Indiana station links with the PJM Interconnection. Invenergy plans to build the project in two phases, with the first delivering 2,500MW into Missouri and the second ferrying another 2,500MW to the PJM region, which includes the District of Columbia and 13 states in the Midwest and mid-Atlantic. DOE in November 2024 awarded the project a conditional loan of up to $4.9bn to help finance the initial stage as part of Biden's larger push to decarbonize the electricity sector. Invenergy intends to start construction on the first phase next year. Ultimately, the line would supply 15mn MWh/yr to Missouri, with 60pc of the capacity allocated to MISO and the remainder to the Associated Electric Cooperative. Another 15mn MWh/yr would flow into the PJM markets. Altogether, the line would supply enough electricity to cover the demand of more than 2.8mn households. Landowner groups in Missouri have long targeted the Grain Belt Express, but have failed to stymie the project through a challenge to its use of eminent domain . Opponents have since continued their efforts against the project, and Missouri attorney general Andrew Bailey, a Republican, last week called on state utility regulators to rescind the line's permit on grounds that Invenergy relied on "deceptive" information to secure its approval. By Patrick Zemanek Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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