Cop 30 presidency advances climate finance roadmap

Spanish Market: Emissions
10/04/26

The UN Cop 30 climate summit's presidency is advancing its Baku to Belem climate financing roadmap along with several multinational partners, aiming to mobilize action towards a goal of $1.3 trillion/yr by 2035.

The roadmap sets out paths to scale climate finance for developing countries. The Cop 30 presidency, held by Brazil, will prioritize developing a framework and monitoring tool to evaluate and keep track of global finance mobilization, it said.

Stronger and more coordinated contributions among governments will be the next step to reach a global response to climate change, focusing on implementation of already-settled nationally determined contributions and adaptation plans.

The Cop 30 presidency wants to deliver a first implementation update on global financing progress towards the $1.3 trillion goal by the Cop 31 summit, to be held in Antalya, Turkey, in November. It is an initial step to be continued in further climate-focused efforts.

The roadmap also includes clarifying policy interventions and future pathways needed to scale finance across public and private resources.

The Cop 30 presidency is also working on separate roadmaps to phase out fossil fuels and reduce deforestation. It has asked for public contributions on both.

By João Curi

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10/04/26

EU could face jet fuel shortages in three weeks: ACI

London, 10 April (Argus) — EU airports could experience jet fuel shortages in the next three weeks, airports association ACI Europe has said. "If the passage through the strait of Hormuz does not resume in any significant and stable way within the next three weeks, systemic jet fuel shortage is set to become a reality for the EU", the organisation said in a letter to the European Commission. The letter follows a special meeting of the commission's Oil Co-ordination Group earlier this week, which ACI attended. Around 40pc of Europe's jet fuel imports transit the strait of Hormuz, but no jet cargoes bound for Europe have passed the strait since before the war between the US, Israel and Iran broke out on 28 February. The final cargo to have done so discharged earlier this week, in the Netherlands and Denmark, from the STI Supreme . Europe has adequate jet fuel supply at present, but traders and suppliers are extremely concerned about the coming weeks, and at least one European airline said suppliers could soon declare force majeure. These market participants broadly agree the effects will materialise by May , because Europe will be unable to fully replace lost Mideast Gulf supply. The fragile two-week ceasefire in the Gulf has done little to alleviate these concerns. Mideast Gulf loadings are unlikely to return to pre-war levels anytime soon, given high costs, the difficulty of securing insurance and the risk of continued attacks. This is in addition to major damage to regional energy infrastructure. It would also take at least four weeks for cargoes to arrive in Europe even if shipping resumes immediately. Stock levels in European countries vary, meaning some could face shortages sooner than others . In the most extreme scenario, the UK could run out of kerosine in three months, Portugal in four months and Hungary in five, Argus analysis shows, if Mideast Gulf supply cannot be replaced and if the impact spreads proportionally across importers. ACI Europe proposed measures the commission could adopt, including lifting restrictions and regulatory constraints — such as clarifying the EU Methane Emissions Regulation — collective purchasing of jet fuel, targeted refinery obligations and allowing producers to earmark part of their fuel sale premiums for financing sustainable aviation fuel (SAF). The organisation also called on the commission to develop EU-wide mapping, assessment and monitoring of jet fuel production and availability. European refiners are maximising jet production , Argus understands, and importing more from the US . By Amaar Khan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Japan, Oman sign carbon offset deal

10/04/26

Japan, Oman sign carbon offset deal

Osaka, 10 April (Argus) — Japan has signed a joint offset agreement with Oman, aiming to achieve low-carbon growth in the Middle East country through investments and application of advanced technologies and infrastructure. The deal, which was signed on 9 April, calls on both countries to create a joint crediting mechanism (JCM) to promote investment and use of decarbonising technologies, products, systems, services and infrastructure in Oman. This is also aimed at implementing mitigation actions to reduce or remove greenhouse gas (GHG) emissions along with sustainable development. Verified carbon reductions or removals under the JCM can be quantified on an international basis. Some of the JCM credits issued from such mitigation efforts will be used to achieve Japan's nationally determined contributions (NDCs), while ensuring that double counting is avoided on the basis of corresponding adjustments between countries and consistency with the guidance on co-operative approaches referred to in Article 6.2 of the 2015 Paris climate agreement. The latest deal is Japan's 32nd bilateral carbon offset agreement since the JCM scheme was launched in 2013. Tokyo aims to secure accumulated international emission reductions and removals at around 100mn t-CO2 by the April 2030-March 2031 fiscal year and 200mn t-CO2 by 2040-41 through public-private collaboration under the JCM mechanism. Japan aims to reduce GHG emissions by 46pc by 2030-31, 60pc by 2035-36 and 73pc by 2040-41, compared to 2013-14 levels, before achieving net zero in 2050. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

UN, BB Energy partner on carbon finance in Africa

09/04/26

UN, BB Energy partner on carbon finance in Africa

London, 9 April (Argus) — The UN High Commissioner for Refugees has partnered with two consortia to develop clean cooking and reforestation projects in Africa as part of the Refugee Environmental Protection Fund, the first large-scale refugee-led carbon finance platform designed to mobilise voluntary carbon markets in displacement settings. Trading firm BB Energy will lead the development and management of two carbon initiatives in Rwanda and Uganda alongside carbon consultancy Hamerkop, non-profit organisation Fairventures and consultancy Innovest, it announced today. BB Energy will manage the clean cooking component in the Kigeme camp in Rwanda, distributing wood and charcoal-efficient stoves, as well as LPG stoves, it said. It will also lead project activities in the Bidibidi settlement in Uganda, it said. The company will pursue approval under the first phase of the Carbon Offsetting and Reduction Scheme for International Aviation (Corsia) in both countries and is already engaging with the government of Uganda, the firm's head of environmental projects Philip Hardwick told Argus . It is also eyeing the Integrity Council for the Voluntary Carbon Market's high-integrity Core Carbon Principles tag for its clean cooking credits, Hardwick said. Meanwhile, the reforestation credits will target "the kind of buyer that's got an interest to do a really meaningful, nature-based project with very high humanitarian impact", he said. "For us at this stage, it's about keeping our powder dry and retaining optionality on which roads we can go down in the future," he said. It will list its projects on different registries, with the forestry initiatives and the LPG component of the clean cookstove project to be submitted to Verra, and the rest of the clean cooking activities on Gold Standard. There is no clear estimate of the amount of credits to be issued yet. But the initial desired round of funding for the UN is $30mn of investments. Separately, a consortium with NGO Farm Africa, development charity Tree Aid and research centre World Agroforestry will lead activities in the Kyangwali settlement in Uganda and will co-lead reforestation activities at the Kigeme camp. By Alexandra Luca Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Malaysia's PSP joins Shell’s carbon offset programme

09/04/26

Malaysia's PSP joins Shell’s carbon offset programme

Mumbai, 9 April (Argus) — Malaysia-based PSP Energy Berhad has formalised its participation in Shell's Carbon Compensation Programme (CCP) 2026, under which lifecycle emissions associated with fuel purchases can be compensated through carbon credit retirement, the company said on 8 April. Shell calculates well-to-wheel CO2 equivalent (CO2e) emissions, representing the total greenhouse gases produced from fuel extraction (well-to-tank) to consumption in a vehicle (tank-to-wheel), covering the entire lifecycle. It procures carbon credits from a portfolio of independently certified projects, primarily nature-based. The credits are retired annually, with certification issued to participating customers. PSP Energy is active in commercial fuels, bunkering and lubricants, where fuel substitution options remain limited, it said. The company previously took part in Shell's programme, with 729 carbon credits retired in January 2024 against fuel purchases made in 2023. Shell's CCP is positioned as a voluntary mechanism for managing unavoidable emissions and operates alongside fuel supply, without linking compensation to changes in fuel use or procurement volumes. By Shribalaji Shenbagaraj Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Brazil expects first CGOB issuance in May

07/04/26

Brazil expects first CGOB issuance in May

Sao Paulo, 7 April (Argus) — Brazil's hydrocarbon regulator ANP expects the first issuance of biomethane guarantee-of-origin certificates (CGOBs) to take place in May, a milestone that would trigger compliance obligations under the Fuel of the Future law. Speaking at a panel during the I-REC Day Brazil event in Sao Paulo on Tuesday, ANP director Maria Auxiliadora Nobre said 2026 obligations will be adjusted to reflect the timing of the first issuance. Instead of applying the annual mandate in full, the target will be calculated on a pro-rata basis, meaning only the remaining months of the year after the first CGOB issuance will count toward compliance. Under this structure, CGOB demand in 2026 is expected to be lower than under a full-year mandate, aligning compliance volumes with initial supply availability. Nobre said the agency will formally notify the market once the issuance platform is fully operational. The panel also discussed how the timing of the first issuance could shape early supply-and-demand dynamics and delay price formation. Luis Felipe Poli, business development manager for gas and energy at Petrobras, said buyers already see economic value in the environmental attribute associated with gas, although clearer pricing signals are expected only once issuance begins. On the supply side, Tayane Vieira, head of ESG and government relations at biomethane producer Gas Verde, said 2026 is likely to be a transition year, with market participants testing volumes, certification procedures and demand patterns as the regulated market starts operating alongside voluntary schemes. From the demand perspective, Adrianno Lorenzon, natural gas director at industrial consumers' association Abrace Energia, cautioned that the regulated mandate should not crowd out voluntary demand in the early phase, warning that distortions could affect liquidity and price discovery. Luciano Figueredo, project manager at certification body Instituto Totum, said discussions around certificate fungibility and differentiation by carbon intensity could initially fragment liquidity, with pricing premiums only emerging once trading gains scale. The panel concluded that, while regulatory uncertainty remains, the first CGOB issuance will mark the shift from policy design to market execution, with early prices likely reflecting limited supply and cautious demand from obligated parties. By Rebecca Gompertz Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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