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US could undermine global climate co-operation: Podesta

  • : Electricity, Emissions
  • 25/05/22

The global climate community will have to pay close attention to the fact that the administration of US president Donald Trump "may do whatever they can to undermine global co-operation in the energy transition" in forums such as the G7 and the UN Cop 30 climate summit, former US government climate advisor John Podesta told the Financial Times Climate and Impact Summit Europe today.

"I hope people will resist them," he said, after pointing out that during Trump's first term, the US administration was "essentially… passive" on the climate on a global stage.

Podesta said that through Trump's attacks on former president Joe Biden's clean energy-supporting Inflation Reduction Act, the US has "handed a victory particularly to China". The act had become an energy transition model around the world, Podesta said, pointing to the EU's Green Industrial Deal. "The way to decarbonise and deal with climate change is through investment, innovation and technology… and what we have done is thrown in the towel and thrown in the hand", he said.

"There was I think, bi-partisan consensus in the US and consensus in Europe that we need to react to [China's domination in the green industry sector]," he added, saying that there is an economic security dimension with leaving China in a dominant position.

Clean energy deployment in the US is likely to stay robust in the short term, he said. Some Republican state governors have raised objections to the administration's rollback of clean energy support, but business investing in that area is keeping its collective head down, Podesta said, largely because "the administration has been engaged in a process of intimidation". Podesta said that there remains significant sub-national action in the US, but warned that the Trump administration is trying to undermine that too.

The administration has moved to "attack the underlying science" and the "human capital" in institutions such as US climate and weather agency the National Oceanic and Atmospheric Administration, Podesta said. "If you eliminate all the information sources maybe the problem goes away", he added.

The government has already pulled the US out of the Paris climate agreement and could withdraw from the UN Framework Convention on Climate Change (UNFCCC) — the UN's climate body. But there are legal issues around this, including whether the government may need a "supermajority" in the Senate, Podesta said.

"The law has not been a constraint on this government," Podesta added.


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25/07/11

Cercarbono launches ELV recycling carbon methodology

Cercarbono launches ELV recycling carbon methodology

Bangkok, 11 July (Argus) — Global environmental certification standard company Cercarbono announced a world-first methodology for generating carbon credits from end-of-life vehicle (ELV) recycling at the Asia Climate Summit in Bangkok on 9 July. The methodology establishes the criteria for quantifying greenhouse gas (GHG) emission reductions from the recovery and recycling of post-consumer materials in formal sector facilities. The methodology covers only post-consumer ELV materials, including metals, plastics and glass, recovered as raw materials that match the quality of virgin materials, the methodology documents show. Projects must comply with Cercarbono's additionality guidelines. It calculates emission reductions as the baseline production from virgin raw materials minus the project's production from recycled materials. Projects must also follow all legal, environmental, labour, health and safety regulations, apply Cercarbono's Safeguarding Principles and report contributions to the Sustainable Development Goals (SDGs) using the SDGtool assessment mechanism. Cercarbono and Mumbai-based Meta Materials Circular Market (MMCM) jointly developed the methodology. MMCM specialises in developing a digital ecosystem for the circular economy in the automotive industry. This innovative methodology will enable ELV recycling systems to benefit from carbon pricing, MMCM said. The initiative has the potential to unlock 10bn rupees ($116mn) in carbon funding over the next decade, MMCM chief executive Nitin Chitkara said. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US biofuel support clears way for new crush capacity


25/07/10
25/07/10

US biofuel support clears way for new crush capacity

New York, 10 July (Argus) — North American oilseed crushers told Argus that projects to increase processing capacity are on track for the next year, potentially enabling more renewable fuel production. After a difficult start to the year for biofuel producers, US policymakers are increasingly making clear that they want refiners to up their output in future years and rely more on domestic feedstocks like soybean oil. That could pave the way for more oilseed crush capacity to come online, after some facilities delayed or cancelled plans over the last year on stagnant demand. Companies confirmed to Argus that more than 620,000 bu/d of new soybean and canola crush capacity were on track to come online in North America in the next year, and other facilities that did not respond to requests for comment have plans in the coming years too. Greater vegetable oil supply also could at least partly address concerns from oil and biofuel refiners that Republicans' protectionist approach to biofuels threatens feedstock shortages and price spikes. A multi-seed crush facility under construction in Mitchell, South Dakota — which will be able to process up to 96,000 bu/d of soybeans — is scheduled to start up this October, South Dakota Soybean Processors chief executive Tom Kersting told Argus. US crush company Ag Processing similarly said that a new 137,000 bu/d soybean crush plant in David City, Nebraska, will open "later this year". In Canada, Cargill confirmed that a 121,000 bu/d canola processing plant in Regina, Saskatchewan is also on track to open this year. In the first half of next year, French agribusiness Louis Dreyfus said it plans to complete two major projects in North America. The company plans to open a 151,000 bu/d soybean crush plant in Upper Sandusky, Ohio, and to double capacity to more than 240,000 bu/d at a canola crush facility in Yorkton, Saskatchewan. US soybean oil futures have climbed by 12pc in the past month on recent policy shifts, providing more incentive for processors — already crushing more soybeans than ever before — to expand production. The US recently proposed record-high biofuel blend mandates for the next two years, projecting that domestic soybean oil production could increase by 250mn USG/yr. And President Donald Trump over the weekend signed legislation that retools a crucial US tax credit to increase subsidies for crop-based fuels. Canadian canola processors, which depend on US incentives because Canada's biofuel sector is far smaller, benefit less from some of these policy shifts. While US fuels made from Canadian feedstocks can still claim the tax incentive next year, the Trump administration has proposed halving credits generated under the biofuel blend mandate for fuels made from foreign feedstocks. That makes US soybean oil a far more attractive input for US refiners than Canadian canola oil. A Canadian farm cooperative earlier this year paused plans for a combined canola crush and renewable diesel plant in Regina, Saskatchewan, citing "regulatory and political uncertainty". And Bunge was vague about its plans for building the world's largest canola crush plant in the same city, which was initially envisioned to start up last year. The US-based agribusiness, which recently took over the project with its acquisition of Viterra, told Argus it was "focused on integration to ensure a smooth transition for our customers" and "may be able to provide an update in the near future". Even then, canola oil stands to benefit from increased demand from food companies if more US soybean oil is diverted to fuel markets. And despite recent struggles for other Canadian biorefineries, ExxonMobil subsidiary Imperial Oil has plans to soon open a 20,000 b/d renewable diesel plant in Alberta that will draw on canola oil. Canadian policymakers have taken steps to assuage local feedstock suppliers and refiners, including a domestic renewable fuel mandate in British Columbia and a proposed mandate in Ontario. Biofuel production and oilseed crush margins also will depend on interactions with other policies, including a temporary tax break through 2026 in the US for small biodiesel producers — historically more reliant on vegetable oils than more versatile renewable diesel plants — as well as low-carbon fuel standards in the US west coast region and Canada. The perennial risk for any company is that policy, especially around biofuels, often swings unexpectedly. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU ministers discuss 2035, 2040 climate target setting


25/07/10
25/07/10

EU ministers discuss 2035, 2040 climate target setting

Brussels, 10 July (Argus) — The EU needs to set its 2040 climate target and derive its 2035 nationally determined contribution (NDC) — climate plan — to the Paris climate agreement from it, European climate commissioner Wopke Hoekstra reiterated today. But France and Hungary's environment ministers have suggested focusing on the EU's 2035 climate target first. European climate commissioner Wopke Hoekstra has repeated the need to first have a "conversation" on setting the bloc's 2040 climate target and only then deriving the EU's 2035 NDC. "That is the way we will approach it," Hoekstra said before an informal meeting of environment and climate ministers in Denmark. This comes after members of the European Parliament rejected the idea of a fast-track procedure for the 2040 target on 9 July . France's environment minister, Agnes Pannier-Runacher, said that the first topic to discuss was the EU's NDC, ahead of the UN Cop 30 climate talks in Belem, Brazil, in November. There is "the question as well of our [2040] objective under the renegotiation of the climate law", she said. Asked about a two-step approach for the setting of the 2040 target and the 2035 goal, Pannier-Runacher said she was "open to all discussions as long as the agenda on competitivity is clear" and goes beyond words. This comes after French president Emmanuel Macron said at the end of last month that setting an EU target for 2040 is not a must for the Belem climate talks. Pannier-Runnacher said that the 2035 target was between 66.5pc, if derived from current efforts to reduce greenhouse gas (GHG) emissions, and 71.5pc, if taking into account the European Commission's proposal to cut GHG emissions by 90pc by 2040 from 1990 levels, accounting for "flexibilities". The commission's proposal includes several flexibilities for the 2040 target, including allowing a "limited" contribution of international carbon credits issued under Article 6 of the Paris agreement to count towards the goal from 2036, and the use of domestic permanent carbon removals in the EU emissions trading system. Hungary's environment state secretary Aniko Raisz said discussions on the NDC and the 2040 climate goal should be separated, because the latter "cannot be rushed" and "the issue won't be finished by the end of September as it needs a "thorough impact assessment". NDCs need to be submitted to the UN by September to be counted in a synthesis report set to ground climate discussions in Belem. Drawing a line between the EU's 2030 and 2050 targets, the 2035 goal for emissions reductions could be over 66pc, Raisz said, adding that NDCs were non-binding commitments. German climate action minister Carsten Schneider did not seem phased by a short timeline to reach an agreement on a 2040 goal and an NDC, which is Berlin's preference. "If the time is long, decisions are postponed," he said. "If Europe is not able to manage that nobody will," he said, citing China, Brazil, India and the US. "We think there's a logic in setting the 2040 target and out of that extracting the 2035 target," Danish climate minister Lars Aagaard Moller said. "That is still the basis for the discussion." Moller chairs meetings of EU climate ministers until the end of December. By Dafydd ab Iago and Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Japan’s Sumitomo to invest $10bn in UK clean energy


25/07/10
25/07/10

Japan’s Sumitomo to invest $10bn in UK clean energy

Tokyo, 10 July (Argus) — Japanese trading firm Sumitomo has agreed to invest a total of £7.5bn ($10.2bn) by 2035 in key clean energy projects in the UK. The agreement was made with the UK's Department for Business and Trade's Office for Investment on 9 July. The £7.5bn total includes investments Sumitomo made before this deal. The investments will be focused on key offshore wind and hydrogen projects. Sumitomo is also actively exploring the commercialisation of next-generation technologies such as fusion energy and energy management with storage solutions, the firm said. Sumitomo did not disclose more details on what projects it will invest in, when requested for comment. Sumitomo is currently involved in a low-carbon hydrogen production project at the Bacton gas terminal in north Norfolk, CO2 storage in the North Sea and the Peak Cluster CO2 shipping project. The trading house has also invested in offshore wind power businesses. Sumitomo chose to partner with the UK because of the government's support for clean energy businesses, said the firm, and it intends to enhance its collaboration with the UK to develop its clean energy portfolio. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

LNG imports feasible, New Zealand utilities say


25/07/10
25/07/10

LNG imports feasible, New Zealand utilities say

Sydney, 10 July (Argus) — Importing LNG to cover New Zealand's shortfall of gas is technically feasible but more challenging than expected, according to two new reports commissioned by five energy companies. Conventional-scale LNG imports would help meet power demand in years when hydroelectric inflows are low, but the total cost to end users is estimated at NZ$170-210mn/yr ($102-126mn/yr) including costs of $10.12-10.37/MMBtu on a landed basis — or approximately NZ$17.83-18.27/GJ, based on a forward exchange rate of NZ$1.67:$1 — according to reports sponsored by New Zealand utilities Clarus, Contact Energy, Genesis Energy, Meridian Energy, and Mercury. Major works to establish infrastructure such as port or pipeline upgrades have been estimated at NZ$190mn-1bn, a level of investment that holds risks given uncertainty about the country's future energy mix and need for imports. Smaller-scale options using existing ports and involving imports from Australia via 15,000m³ vessels could provide an additional 7-10 PJ/yr (187mn-267mn m³/yr) or about one month's supply, but this could cost 25pc more than the large-scale option at about $11.41-11.92/MMBtu, or NZ$20.10-21/GJ . Smaller-scale LNG infrastructure capital costs could be NZ$140mn-295mn, but securing offtake and a solution for storing imported LNG would need to be finalised first, the study said. New Zealand's gas supply has plummeted after years of underinvestment in the Taranaki basin, the country's main source. Just 25.93PJ was produced in January-March, down by 19pc on the year, according to government data. High prices are impacting the production of fertilizers and other industries . Wellington is looking to lure upstream producers via a NZ$200mn co-investment to buy stakes in new gas fields, while also working towards potential LNG import plans . By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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