Carbon markets
Overview
Carbon markets are developing as a crucial economic lever in the challenge of reversing the accumulation of greenhouse gases in the Earth’s atmosphere, while CO2 remains a key factor in a range of industrial sectors.
National governments are embracing carbon markets, with a proliferation of carbon pricing policies worldwide. The private sector is channelling finance into projects that generate carbon emissions reductions and removals to mitigate their hard-to-abate emissions.
And the United Nations is making progress in building a global marketplace for carbon emissions reductions that will facilitate nations’ attempts to meet their obligations under the Paris Agreement.
Industrial sectors remain a key source of CO2 emissions and consumption, with innovation looking towards sustainable methods of production and utilisation.
Argus is setting the stage for an extended period of growth, evolution and interconnection of carbon market participants and initiatives.
Latest carbon markets news
Browse the latest market moving news on carbon markets.
Australia’s NSW to propose new net zero plan in FY26
Australia’s NSW to propose new net zero plan in FY26
Sydney, 1 July (Argus) — Australia's New South Wales (NSW) plans to announce a new net zero plan in the July 2025-June 2026 financial year to reach the state's existing 2030 and 2035 emissions reduction targets. This comes on the back of concerns on ongoing progress raised by the Net Zero Commission. The new plan will be developed over the next 12 months, a spokesperson from the NSW Department of Climate Change, Energy, the Environment and Waster (DCCEEW) told Argus . The plan will include all sectors but will prioritise transport and built environments. NSW's total emissions decreased by only 27pc over 2005-22, according to the Net Zero Commission 2024 annual report released in November 2024. This has been followed by a parliamentary inquiry report released in March 2025. NSW is targeting to cut emissions by 50pc from 2005 levels by 2030 and by 70pc by 2035 , but meeting these targets is not guaranteed and NSW will need to increase and accelerate its efforts to remain on track, the reports said. The new net zero plan is part of a government response to the annual report as well as the parliamentary inquiry report by the Joint Standing Committee on Net Zero Future. NSW also introduced its Energy Security Corporation (ESC), which became fully operational on 1 July, to support decarbonising the state's electricity grid. The ESC is a government-backed investor with A$1bn ($660mn) of seed funding to invest in renewable electricity, large-scale storage and power networks, according to a joint ministerial media release on 1 July. There has been criticism from the energy industry about the lack of a viable transition from coal-fired power to renewable energy, according to the National Electricity Market review . The Net Zero Commission is "concerned about the risks to the state's targets" that the resources sector poses. The government is establishing a regional monitoring network for greenhouse gas (GHG) emissions in response to the commission's concerns. NSW is also reviewing its position on coal mining exploration. The state will reach a 46pc reduction of emissions by 2030 and 62pc by 2035 if it continues to comply with the first stage of its net zero plans, according to the Central Resources of Sharing and Enabling Environmental Data NSW's Net Zero emissions dashboard. The role of biofuels is not specifically outlined but will be part of a Renewable Fuel Strategy to be published in mid-2025, according to the NSW government. The Net Zero Commission expects the transport sector to be the largest emitting sector by 2030. By Susannah Cornford Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EcoCeres, British Airways sign SAF supply agreement
EcoCeres, British Airways sign SAF supply agreement
Singapore, 1 July (Argus) — Hong Kong-based biofuels producer EcoCeres has signed a multi-year agreement to supply UK's British Airways with sustainable aviation fuel (SAF), it announced on 30 June. The SAF is expected to help the airline reduce life cycle carbon emissions by approximately 400,000t, compared with using the same volume of conventional jet fuel, EcoCeres said in its press release. This reduction is also equivalent to the total emissions from flying around 240,000 economy class passengers on return flights between London and New York. EcoCeres declined to share the SAF volumes or time period agreed in the supply deal. British Airways has committed to fuelling 10pc of its flights with SAF by 2030. SAF accounted for 2.7pc of its total fuel use in 2024, and has contributed to a 13pc reduction in carbon intensity since 2019, said the company's director of sustainability Carrie Harris. EcoCeres operates a 350,000 t/yr SAF and hydrotreated vegetable oil (HVO) plant in Jiangsu, China. Its planned SAF and HVO plant in Johor, Malaysia, has a maximum production capacity of 420,000 t/yr and is expected to come on line in the fourth quarter of 2025, market participants said. EcoCeres also manufactured the 500,000 litres of used cooking oil (UCO)-based SAF delivered to Air New Zealand in June 2024 . The SAF was supplied and blended by ExxonMobil. By Sarah Giam Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
UK unveils plan to triple solar capacity by 2030
UK unveils plan to triple solar capacity by 2030
London, 30 June (Argus) — The UK government has unveiled a plan to nearly triple solar photovoltaic (PV) capacity to 45-47GW by 2030. The roadmap — co-chaired by energy secretary Ed Miliband and industry body Solar Energy UK chief executive Chris Hewett — outlines a series of measures to address challenges in planning, grid connections, supply chains and skills. It estimates that solar could power about 9mn homes by 2030, up from 2mn currently, and suggests that up to 0.4pc of UK land would be required for ground-mounted solar to achieve these targets. Total PV capacity in the UK at the end of May was 18.9GW across about 1.8mn installations , provisional government data show. Additions totalled nearly 1.4GW over the 12 months to May, slowing slightly from the 1.5GW added a year earlier. Installations need to ramp up significantly to more than 4.7 GW/yr of new capacity if the UK is to reach the lower end of the 45-47GW target range for 2030. A key focus of the plan is expanding rooftop solar, with the forthcoming future home standard set to mandate solar panels on most new homes from this autumn. The "warm homes plan", backed by £13.2bn over the spending review period, aims to support households in adopting solar panels and other energy-saving measures to reduce energy bills. The government is also exploring reforms to the Consumer Credit Act to facilitate financing for domestic solar installations, while state-owned company Great British Energy will fund solar projects for about 200 schools and 200 hospitals in England in 2025-26. For commercial rooftops, the roadmap highlights the potential of warehouse roofs, which could support 15GW of capacity, and proposes streamlined contractual agreements to ease installations on leased buildings. The government is also considering the potential of solar canopies on car parks and plug-in solar systems for households, with a safety study planned to explore the latter. Planning reforms include doubling the threshold for nationally significant solar projects to 100MW from 50MW, enabling more mid-sized projects to be decided locally, and updating the national planning policy framework to prioritise renewable energy. A £46mn investment will enhance local planning authorities' capacity, while a new "solar council" will monitor progress. By Timothy Santonastaso Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EU eyes Article 6 for up to 3pc of 2040 climate target
EU eyes Article 6 for up to 3pc of 2040 climate target
London, 30 June (Argus) — The European Commission is planning to propose a "possible limited contribution" of international carbon credits issued under Article 6 of the Paris climate agreement to the EU's 2040 climate target, leaked elements of the legal text indicate. Alongside an emissions cut target for 2040 of 90pc compared with 1990 levels, the proposed amendment to the EU climate law includes using Article 6 credits from 2036 amounting to a maximum 3pc of the EU's net 1990 emissions, the text notes. The origin, quality criteria and other conditions of the credits would be regulated by EU law under the proposal, the draft reads. The commission will also lay out the possible use of domestic permanent carbon removals within the EU emissions trading system, as well as "enhanced flexibility across sectors" for meeting climate targets, the source said. Commission climate director-general Kurt Vandenberghe suggested earlier this month that its 2040 target proposal could offer more flexibility , without providing details. And some EU member states had expressed interest in using Article 6 credits towards the 2040 goal. But the approach has been criticised by others for potentially weakening the bloc's climate action. "These so-called flexibilities are nothing but a backdoor to less climate action. Those who rely on international offsets are not investing in our industry, not in our energy independence and not in our future," the shadow rapporteur for the 2040 target in the European Parliament, Greens MEP Lena Schilling, said today. Her comments echoed earlier findings by research body the Oeko-Institut on the potential risks of using Article 6 credits in the EU. The commission is scheduled to present its 2040 climate target proposal on 2 July. French president Emmanuel Macron last week called for discussions on the subject to be separated from those on the EU's 2035 climate target under its nationally determined contribution to the Paris deal, which must be decided ahead of the UN Cop 30 climate conference in Belem, Brazil, in November. Danish ambassador to the EU Carsten Gronbech-Jensen confirmed today that some member states are calling for the decoupling of the two discussions. Denmark takes over the presidency of the EU council from tomorrow. But there is not much time to prepare for discussions leading up to Cop 30, Gronbech-Jensen warned. "I think it might be somewhat complicated, given the discussion that took place last week," he said. "We'll do all we can to get to a good result." By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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