Climate policy and UN Cop meetings
Overview
Argus provides key insights on how global climate policies will affect the global energy and commodity markets. We shine a light on decisions made at UN Cop meetings, which have far-reaching effects on the markets we serve. Progress at Cop 30 in Brazil will be crucial in transforming ambitions into actions aligned with the goals of the Paris Agreement. Countries must produce new climate plans this year.
Follow the key developments in energy transition field with our Net zero page and keep up to date with ongoing coverage of these issues by following Argus Media on LinkedIn and on X.
News
Australia’s Boral set to stay below emissions baseline
Australia’s Boral set to stay below emissions baseline
Sydney, 28 March (Argus) — Australian building materials firm Boral expects to remain below its emissions baseline under the safeguard mechanism, it said today as it announced further decarbonisation investments for its flagship cement manufacturing operations. Boral is "on track" to remain below the baseline safeguard mechanism requirements, chief executive officer Vik Bansal said on 28 March. This is because of the new kiln feed optimisation project and previous investments in decarbonisation projects, he noted. Boral's Berrima cement plant in New South Wales (NSW) state will invest in a new cement kiln infrastructure project that will reduce the facility's scope 1 emissions by up to 100,000 t/yr of CO2 equivalent (CO2e) from 2028, it said on 28 March. The project was awarded A$24.5mn ($15.4mn) under the Australian federal government's A$1.9bn Powering the Regions Fund (PRF). Grants will come from the PRF's A$600mn Safeguard Transformation Stream, aimed at decarbonisation projects at heavy industry facilities covered under the safeguard mechanism. The Berrima plant — Boral's only facility under the mechanism — reported 979,872t of CO2e in the July 2022-June 2023 compliance year, below its baseline of 1.075mn t of CO2e. The facility will be eligible to receive safeguard mechanism credits (SMCs) from the July 2023-June 2024 year onwards for any emissions below the baseline. The company also upgraded its carbon-reduction technology at Berrima last year, reducing fuel-based emissions through the use of alternative fuels at the kiln. The new kiln feed optimisation project will lead to a reduction in the so-called process emissions — the largest and hardest-to-abate emissions source in cement manufacturing. Approximately 35pc of Berrima's scope 1 emissions originate from fuel combustion, while the remaining 65pc are process emissions, according to the company. Australia's Clean Energy Regulator (CER) will publish 2023-24 safeguard data by 15 April . By Juan Weik Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Several countries have met fossil finance pledge: CSO
Several countries have met fossil finance pledge: CSO
London, 27 March (Argus) — Two-thirds of "high-income" signatories that pledged to end public finance for international fossil fuels have policies in place that realise their commitment, civil society organisation (CSO) Oil Change International said today. Of the 17 "high-income" signatories, 11 are compliant, Oil Change found. They total ten developed countries — Australia, Canada, Denmark, Finland, France, New Zealand, Norway, Spain, Sweden and the UK — as well as EU development institution the European Investment Bank (EIB). The policy details vary, "but all put a complete halt to investments in new oil and gas extraction and LNG infrastructure", Oil Change said. The pledge referred to — the Clean Energy Transition Partnership (CETP) — was launched at the UN Cop 21 climate summit in 2021. It aims to shift international public finance "from the unabated fossil fuel energy sector to the clean energy transition". Signatories commit to ending new direct public support for overseas unabated fossil fuel projects within a year of joining. Other countries have updated policy to restrict fossil fuel financing abroad, but Oil Change has deemed them not in line with the pledge made. Belgium's policy "breaches the end-of-2022 deadline, allowing support for projects that have received promise of insurance by July 2022 into 2023", Oil Change said. The Netherlands allows some projects that requested support in 2022 to be approved in 2023, while there are "energy security exemptions and exemptions for some continued support in low-income countries", Oil Change said. The CSO assessed Germany's policy as containing a number of "major loopholes", including not ruling out public finance for gas infrastructure and gas-fired power plants. And it noted that Italy's policy for its export credit agency "allows fossil fuel finance to continue virtually unhindered". Germany has provided $1.5bn across 11 projects since the 2022 deadline passed, while Italy approved nearly $1.1bn for four projects in 2023, Oil Change said. Oil Change classed Switzerland's policy as "severely misaligned", while Portugal has not submitted a policy and the US has withdrawn from the agreement. The US provided $3.7bn for 12 international fossil fuel projects between end-2022 and end-2024, while it approved $4.7bn for the Mozambique LNG project after leaving the CETP. The CETP now has 40 signatories including five development banks and 35 countries. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
France delays solar subsidy reductions
France delays solar subsidy reductions
London, 27 March (Argus) — Planned cuts in subsidies to building-mounted solar installations will not be made retroactive after the solar sector successfully lobbied the French government, but other changes will still go ahead. The government today published final legislation on changes to feed-in tariffs for new solar sites under 500kW capacity mounted on buildings or above fields or car parks. The legislation is intended to reduce the amount of capacity being built in this sector, as it is less cost-effective than larger sites, the government said. For the 100-500kW segment, for which the government proposed to reduce the tariff retroactively from 1 February, the drop to €95/MWh from €105/MWh will take place for all projects registered from now, rather than since the beginning of February. And a planned monthly reassessment of the tariff — to allow it be to be reduced if too many projects applied — will only kick in from 1 July. But sharp cuts remain on tariffs for smaller installations, and for self-consumption, although they too are no longer retroactive. Project developers on large installations will now also need to provide a €10,000 deposit, intended to reduce the drop-out rate from projects which do not advance to construction. The government intends to put in place a tender mechanism for the 100-500kW sector, replacing the current open window system. It hopes to set this up by September to take over when the cut in tariffs for this sector begin to kick in. Solar actors' reaction to the news was mixed. Renewables association SER welcomed the delay to cuts for the 100-500kW segment. But much uncertainty remains over the volume to be offered and the frequency with which the tenders to replace this sector will take place. There is a risk that the "cliff edge" the association had warned about has just been pushed back to 1 July from 1 February, SER president Jules Nyssen said, if the tenders are not ready to go in time. By Rhys Talbot Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
UK GHG emissions fell by 4pc in 2024
UK GHG emissions fell by 4pc in 2024
London, 27 March (Argus) — The UK's greenhouse gas (GHG) emissions fell by 4pc year-on-year in 2024, provisional data released by the government today show, driven principally by lower gas and coal use in the power and industry sectors. GHG emissions in the UK totalled 371mn t of CO2 equivalent (CO2e) last year, the data show, representing a fall of 54pc compared with 1990 levels. The UK has legally-binding targets to cut its GHG emissions by 68pc by 2030 and 81pc by 2035 against 1990 levels, and to reach net zero emissions by 2050. The electricity sector posted the largest proportional year-on-year fall of 15pc, standing 82pc below 1990 levels at 37.5mn t CO2e. The decline was largely a result of record-high net imports and a 7pc increase in renewable output reducing the call on coal and gas-fired generation, as well as the closure of the country's last coal power plant in September , which together outweighed a marginal rise in overall electricity demand, the government said. Industry posted the next largest emissions decline of 9pc, falling to 48.3mn t CO2e, or 69pc below 1990 levels, as a result of lower coal use across sectors and the closure of iron and steel blast furnaces. Fuel supply emissions fell by 6pc to 28.4mn t CO2e, 63pc below where they stood in 1990. And emissions in the UK's highest-emitting sector, domestic transport, fell by 2pc to 110.1mn t CO2e, 15pc below 1990 levels, as road vehicle diesel use declined. Emissions in the remaining sectors, including agriculture, waste and land use, land use change and forestry (LULUCF), edged down collectively by 1pc to 67.2mn t CO2e, some 50pc below 1990 levels. Only emissions from buildings and product uses increased on the year, rising by 2pc as gas use increased, but still standing 27pc below 1990 levels at 79.8mn t CO2e. UK-based international aviation emissions, which are not included in the overall UK GHG figures, rose by 9pc last year to reach pre-Covid 19 pandemic levels of 26.1mn t CO2e, the data show. But UK-based international shipping emissions edged down by 1pc to 6.2mn t CO2e. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Analysis
Aid cuts suggest a rocky period for climate finance
Aid cuts suggest a rocky period for climate finance
Western countries' potential retreat may open the field wider for countries such as China, writes Georgia Gratton London, 7 March (Argus) — A renewed focus on defence spending in Europe and swingeing aid cuts from major western donors create a gloomy outlook for international climate finance. It has been less than four months since developed countries settled a deal at the UN Cop 29 climate summit to ramp up climate finance to developing countries to $300bn/yr by 2035 — the highest ever agreed. Climate finance is unlikely to take centre stage at this year's Cop 30 in Brazil in November, but the topic underpins all climate talks and plays a large role in the speed at which the global energy transition proceeds. There have been steady, if modest, increases in climate finance in recent years. Developed countries delivered $115.9bn in climate finance to developing nations in 2022, the most recent OECD data show. This was a rise of just under a third on the year, and the first time developed countries hit their target of providing $100bn/yr in climate finance over 2020-25. But recently announced and expected cuts to aid are likely to slow progress. Official development aid typically encompasses climate finance. US president Donald Trump in January announced a pause to all US foreign aid through the country's international development agency, USAID, while UK prime minister Keir Starmer said last month that he would fund a rise in UK defence spending entirely through cuts to the country's aid budget from 2027. Starmer said the UK would continue to provide climate finance, as well as aid in other areas, but former UK international development minister Anneliese Dodds — who resigned over the cuts — said that it would be "impossible to maintain these priorities". Other European leaders are also focused on rapidly expanding defence spending — notably Germany's incoming chancellor Friedrich Merz — although there is no sign as yet that aid or climate finance will be diverted for this purpose. But both France and Sweden have indicated they will spend less on aid from this year, non-profit Donor Tracker says. The US, the UK, Germany, France and Sweden collectively provided $142.33bn in aid in 2023, OECD data show. Filling the finance gap Hitting the $300bn/yr climate finance goal by 2035 "is very much in reach", despite the challenging geopolitical landscape, research organisation World Resources Institute (WRI) says. The majority of climate finance is public — bilateral finance and funding from institutions such as multilateral development banks (MDBs). There are several options to ensure that financing from public institutions rises, WRI says. If countries pay in more capital to MDBs, it will increase the base amount against which they can lend. "While such increases may be unlikely today with current political dynamics, they could feasibly happen before 2035," WRI says. But significant private investment would be needed to move beyond the $300bn/yr goal and towards the wider roadmap for $1.3 trillion/yr in climate finance by 2035, as agreed at Cop 29. The retreat of wealthy western countries from contributing aid and climate finance is likely to erode some of the soft power these countries hold. This will allow other actors to step in. China portrayed itself as a reliable leader on climate at Cop 29, including making new concessions in the language used to describe its climate finance contributions. And the UAE committed $30bn to a new climate fund during Cop 28, which it hosted in 2023. UN biodiversity talks, which reconvened last week, proved a bright spot, as countries agreed on a strategy to boost biodiversity finance to $200bn/yr by 2030. But Brazil is well aware of the fractured developed-developing country relationship at climate talks, and of the divide it must bridge at this year's Cop 30. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Execs divided on Trump effect on energy investment
Execs divided on Trump effect on energy investment
London, 10 February (Argus) — The energy sector's first big gathering of the year showed that its executives, policy makers and observers remain conflicted in their views about how US president Donald Trump's second term will affect it, following his flurry of pronouncements and executive orders since he was sworn into office. While some see a sharp reversal in attitude from Washington towards the previous administration's Inflation Reduction Act (IRA), others hold out hope that, despite negative comments from Trump about certain types of renewable energy, he will eventually come to recognise that they deserve a place in the energy mix. Speaking on the first day of energy technology firm Baker Hughes' annual conferencein Florence, Italy, last week, Trump's former US energy secretary Dan Brouillette said that tearing up the IRA was not possible under the US system of government, as the president cannot "undo a federal statute at a stroke". "Executive orders do not apply to federal statutes," he said, adding that he thinks there will be more, not less, investment in renewable power under Trump. Brouillette noted that the US has been retiring firm base-load power faster than it has been able to add new generation capacity, and the country will be some 25-30GW short of electricity within a few years — approximately five times the capacity currently needed to power New York City's grid. "We are short on electrons. We are short on infrastructure. We are short on power," he said. While acknowledging that his erstwhile boss is not currently supportive of offshore wind and some other types of renewable power, Trump "understands clearly that we need more electrons. And, candidly, an electron, once it's created, doesn't know where it came from, whether it was created by a nuclear facility or a windmill". In contrast, investment bank RBC Capital Markets' head of global commodity strategy, Helima Croft, said at the conference that "the landscape in Washington has fundamentally shifted" with respect to the IRA since Trump returned to office.She pointed out that the first acts of former president Joe Biden's administration four years ago included taking the US back into the Paris Agreement and announcing a pause on new oil and gas leasing on federal land. The US is undergoing "an absolute inversion" of those moves, Croft said. "One of the first acts is to leave the Paris climate accords. We now have a pause on projects related to wind and solar on federal lands, while at the same time we're opening up drilling on federal lands for oil and gas. So you can't overstate the sea change in Washington," she said. Crunch time for low carbon And Croft is sceptical about the future for wind and solar energy in the US. There had been an expectation that much of the IRA would be future-proof as many Republican states are beneficiaries of renewable energy investments, but "everything we've seen so far in wind and solar would indicate that this is not a bulwark against some dismantling", she said. The question now is which low-carbon technologies have bipartisan appeal. Carbon capture, utilisation and storage, nuclear energy and geothermal energy have broad bipartisan support, according to Croft. Sharing the stage with Croft was commodities trading company Trafigura energy transition head Margaux Moore, who argued that the energy sector and industry more widely must come together now to decide on which energy technologies to invest in today, rather than wait for policy makers. An approach whereby industry invests limited sums in multiple low-carbon technologies to learn how they will mature is "becoming synonymous with inaction", Moore said. But investment decisions made today will have long-lasting consequences. "The choices we're making now are going to have an impact on what we see in 2050, right? We cannot afford to wait and see," Moore said. By Jon Mainwaring Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Ambition focus as nations to fail new GHG goal deadline
Ambition focus as nations to fail new GHG goal deadline
Edinburgh, 6 February (Argus) — Most countries and major emitters that are party to the Paris Agreement will fail to meet a 10 February deadline for sharing new climate plans. Climate policy observers have stressed that higher ambitions beat timeliness when it comes to new 2035 greenhouse gas (GHG) emissions cut targets, but challenges abound ahead of the UN Cop 30 climate summit in Brazil. Only 10 countries, including G20 members Brazil and the UK, have submitted new climate plans — or Nationally Determined Contributions (NDCs) — so far. Around 200 countries and jurisdictions such as the EU have signed the Paris agreement. They need to submit their 2035 targets to the UN climate body UNFCCC by February as part of the so-called ratchet mechanism, which requires them to review and revise plans every five years. "There have not been any signals that any major emitters will submit their NDCs before the deadline, but we may see a handful of smaller emitters trickling in," think-tank International Institute for Sustainable Development (IISD) energy policy advisor Natalie Jones said. Non-profit the World Resources Institute (WRI) associate Jamal Srouji expects around 20 countries to submit by the deadline. But most climate plans should come in the second half of this year, with the UN general assembly in September emerging as a new potential milestone followed by Cop 30 in Belem, Brazil. Countries missing their NDC deadline is not new. They were slow to submit plans in the previous 2020-21 round — although they were grappling with a pandemic — and after Cop 26, when it came to strengthening 2030 targets. Jones described the UNFCCC's non-enforceable February deadline as "arbitrary". "It is much more important to have good quality plans than NDCs handed in on a forced deadline, although of course there is no guarantee that the plans that will come later will be necessarily better," Jones said. Srouji concurred: "Higher ambitions from major countries are far more critical because we know that we are off track for meeting the Paris goals". US exit The US submitted its new NDC in December under then president Joe Biden, knowing that the new president Donald Trump would pull out of the Paris accord again. This will take effect on 27 January next year. It was important for the US to submit this NDC, Srouji said, as it will serve as "a guiding post" for what the country could achieve, at sub-national levels in particular. But the US' Paris exit could dampen momentum on global NDCs, with some fearing a spillover effect . Indonesia, which earlier signalled it would submit by February, is unlikely to do so now, after the country's climate envoy Hashim Djojohadikusumo expressed discontent. "If America does not want to comply with international agreements, why should Indonesia comply?" he asked. Argentina pulled its delegation from Cop 29 last year and may consider leaving the Paris agreement. Among other major emitters, Canada set a new 2035 climate goal in December. The country was planning to submit its new plan by February, but the resignation of prime minister Justin Trudeau and a new election due this year could put the country's climate ambitions at risk. All eyes will of course be on China, the world's largest emitter, and whether it pledges stronger targets. The country is unlikely to submit its new plan by the deadline, according to observers. Expectations are high, but "targets will likely fall short of achieving the 1.5°C goal, leaving much work to be done to accelerate emissions reduction," think tank Asia Society Policy Institute director Li Shuo said. China signalled at Cop 29 that its NDC will be "economy-wide" and "cover all greenhouse gases", while continuing to strive to achieve carbon neutrality before 2060, without providing further details. "There is a big question mark, in the absence of US leadership, if will we see China along with the EU engaging and stepping up, or if will we see the country retreating like the US," IISD's Jones said. EU climate commissioner Wopke Hoekstra, who said the bloc's NDC will come in time for Cop 30, said that Europeans will need to show more leadership. But the EU's 2035 goal will be derived from its 2040 target and German MEP Peter Liese pointed to a deadlock in discussions . The European Commission has proposed a greenhouse gas (GHG) emissions reduction target of 90pc by 2040, from 1990 levels, which Poland said is "very difficult to accept". Challenges Cop 30 host Brazil, along with the UAE Cop 29 presidency, stuck to their promise of being early movers by submitting updated goals last year, although these were met with mixed reactions. Cop 29 host Azerbaijan did not submit a new NDC in Baku, with its president signalling challenges for some developing countries in establishing new plans. Some southeast Asian countries have highlighted challenges in providing new targets , such as the lack of common models between sectors, financing and economic growth. Chile said that it will submit an emissions reduction plan by the middle of this year, as a draft document is under consultation . There are many reasons for delays. "The UNFCCC timeline is not necessarily aligned with national decision-making processes and many developing countries face resource and capacity constraints," Srouji said, adding that parties are also expected to submit other documents such as adaptation plans and long term climate strategies. The IEA can provide support on national energy transition plans. The energy watchdog has recently supported Uganda and Vietnam on transition plans, and is in the early stages of transition advisory work with Colombia and Tanzania, it said. Colombia indicated that it will submit its NDC by June as the country seeks to address the "divisive issue" of fossil fuels, on which its economy is dependent. Mixed bag The climate plans submitted so far accounted for around 16pc of global emissions as of 5 February, including commitments from the UK and Brazil, according to WRI. IISD's Jones described the current NDCs as a "mixed bag", in terms of targets and the level of details, saying that the UK emerged as a leader with commitments on oil and gas licensing, while New Zealand has put forward a weak target and no plans. The UK's plan sets out the government's manifesto pledge to phase out sales of new cars "relying solely on internal combustion engines" by 2030, and notes that it will consult on issuing no new oil and gas licences to explore new fields. But none of the countries which posted new NDCs so far — apart from St Lucia — seem to have raised their 2030 targets, despite agreeing to "revisit and strengthen" them in the Cop 28's global stocktake (GST). How countries will respond to elements of GST — which also resulted in all parties agreeing to "transition away" from fossil fuels — will be a key issue to watch, especially after they failed to build on their commitments at Cop 29 in Baku. "While NDCs may show progress on the commitments of the Paris agreement and the commitments of a lot of countries on climate action, it is not clear what they will deliver in terms of the ability to keep 1.5°C in reach", Srouji said. "This is how Cop 30 comes into play, to make sure countries respond adequately and keep on track, he said. By Caroline Varin Countries GHG 2035 reduction targets Countries Headline 2035 target Baseline UAE Cutting GHG emissions by 47pc by 2035 2019 Brazil Cutting GHG emissions by 59-67pc by 2035 2005 US Cutting GHG emissions by 61-66pc by 2035 2005 Uruguay Cutting GHG emissions by 30pc by 2035 2020-22 Switzerland Cutting GHGemissions by 65pc by 2035 1990 UK Cutting GHG emissions by 81pc by 2035 1990 New Zealand Cutting GHG emissions by 51-55pc by 2035 2005 Andorra Cutting GHG emissions by 63pc by 2035 2005 Ecuador Cutting GHG emissions by 7pc by 2035 2010 St Lucia Cutting GHG emissions by 22pc in energy sector by 2035* 2010 Canada** Cutting GHG emissionsby 45-50pc by 2035 2005 Source countries' NDCs *conditional target **Canada only submitted its headline target, not its NDC Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US Paris exit sparks concern but also climate unity
US Paris exit sparks concern but also climate unity
London, 24 January (Argus) — Governments, companies and scientists have expressed concern at President Donald Trump's decision to withdraw the US from the Paris climate agreement, but have committed to continue with plans to decarbonise and drive forward the energy transition. "It's not a complete halt of the efforts but it's definitely a concerning moment," director of the Potsdam Institute for Climate Impact Research Johan Rockstrom told delegates this week at the World Economic Forum (WEF) in Davos, Switzerland. "The nervousness is what spillover effects this can have on other countries in the world and that in turn can end up in a serious slowdown of efforts. I'm thinking of Saudi Arabia, I'm thinking of Argentina, I'm thinking of some of the more populist governments now in Europe," Rockstrom added. Action on climate change is competing for space on policymakers' agendas with geopolitical turmoil — war in Ukraine and the Middle East — as well as economic challenges. "We're in a state of crisis fatigue… we only seem to have an attention span for one crisis at a time, so as this polycrisis environment that we've been in for the last few years… climate has been pushed down that crisis priority list, but… science behind climate hasn't changed. The impacts actually have changed in that they're simply getting worse", executive secretary of UN climate body the UNFCCC Simon Stiell said in Davos. In response to Trump's decision to pull the US out of the Paris accord , the EU and China immediately committed to continue with their action on climate change , and both underlined the importance of multilateralism. "I want to be very clear with my message. Europe stays the course, and we stand ready to work with all global actors to accelerate the transition to clean energy," European Commission president Ursula von der Leyen said. Transition is ‘unstoppable' Many speakers in Davos noted that the energy transition to renewables is well underway, and has advanced rapidly since Trump's first term in office. "The world is undergoing an energy transition that is unstoppable," Stiell said. Several private-sector representatives attending the WEF embraced the energy transition, pointing to increased efficiency and cost savings. "I haven't found one single area where climate smart wouldn't be resource smart and cost smart," Ikea chief executive Jesper Brodin said. "Technology will win the day in the end", Volvo Cars chief executive Jim Rowan said. The consensus from a CEO lunch during the WEF was that "we are not deviating from the plans we have. We're staying on track. We're moving on a decarbonisation path, we're electrifying our industry, we're not going to be shaken up by what's happening," Rockstrom said. Within the US, action to decarbonise looks set to consolidate beyond federal level. A group of 24 US state and territorial governors have assured the UNFCCC of their continued climate action. And Bloomberg Philanthropies this week said it would step in to cover the US' financial obligations to the UNFCCC, as well as support the country's climate reporting. The long-term realities of a heating world overshadow the relatively short-term politics. "It is one of the most challenging things we will be facing in the decades to come, and the effects are devastating," EU climate commissioner Wopke Hoekstra said this week. Extreme heat is projected to cause $2.4 trillion/yr in productivity losses by 2035, as well as $448 bn/yr in fixed-asset losses for publicly listed companies, financial services provider Allianz said. The US in particular has been hit hard by catastrophic weather events — proven to be exacerbated by climate change — in recent months. California governor Gavin Newsom pointed to wildfires, which have this month devastated swathes of Los Angeles. "If you don't believe in science, believe your own damn eyes," Newsom said. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Country focus
Trump tries again at faster energy permitting
Trump tries again at faster energy permitting
Washington, 27 January (Argus) — President Donald Trump is moving early in his second term to fast-track federal permitting by tapping into emergency powers he hopes will expedite approval of oil and gas infrastructure projects and electric transmission lines. Trump spent his first term promising a "massive" permitting overhaul that never materialised, after he was unable to achieve comprehensive updates through regulatory changes or a legislative deal in Congress. But in an executive order he signed on his first day in office that declares a "national energy emergency", he directed his administration to use emergency powers usually used to respond to issues such as natural disasters or short-term fuel shortages, to make it easier to build oil and gas pipelines, refineries and power plants. Trump's order argues that swift government action is needed because former president Joe Biden's policies have created an "emergency" under which energy supplies have become "precariously inadequate and intermittent" and the electric grid is "increasingly unreliable". It directs government agencies to use emergency powers to expedite issuance of water permits under the Clean Water Act and fast-track project reviews under the Endangered Species Act. It also asks regulators to "use all lawful emergency" powers to support the supply, refining and transportation of energy in the US west coast, northeast US and Alaska. But the White House will not offer expedited permitting for wind farms, which Trump detests and says should no longer be built. His administration has issued orders to stop leasing federal lands for wind farms, prompting an outcry from offshore wind group Turn Forward, whose executive director Hillary Bright sees a disconnect between declaring an energy emergency while impeding the buildout of wind power capacity, which is on track to grow by 60pc by 2028. Trump also rescinded a 1977 executive order supporting binding government-wide regulations for issuing environmental reviews of projects under the National Environmental Policy Act (NEPA). This provides a chance to overhaul processes under NEPA, a decades-old law that often requires time-consuming reviews of projects that can take years to prepare and are regularly challenged in court. Where's the emergency? But tapping emergency powers to expedite permitting and overhaul NEPA processes could face substantial risks in court. Energy projects approved using novel processes would almost certainly face a barrage of lawsuits from environmentalists, who see no legal justification to jettison standard permitting rules that have been in place for decades. "There is no energy emergency. There is a climate emergency," environmental group NRDC's president, Manish Bapna, says. Republicans in Congress are considering ways to expedite permitting using a filibuster-proof manouevre called ‘budget reconciliation', which they also intend to use to cut taxes, expand fossil fuel leasing and push through other parts of Trump's agenda. Arkansas Republican representative,and chairman of the House of Representatives Natural Resources Committee, Bruce Westerman says "certain parts of permitting" could qualify for that bill, so long as they affect the federal budget. Industry officials are urging lawmakers to create durable energy policy. But Trump's efforts to roll back wind, solar and other clean energy projects — one executive order pauses disbursement of all funds enacted under Biden's signature climate laws — could threaten the bipartisan support required to pass comprehensive permitting changes. Democrats last year were willing to support permitting changes to help pipelines, in exchange for fast-tracking the electric grid buildout needed to deploy vast amounts of renewable energy. Blocking clean energy projects would remove an incentive for compromise. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Trump puts US climate risk disclosures on the outs
Trump puts US climate risk disclosures on the outs
Houston, 21 January (Argus) — US President Donald Trump revoked an executive order by his predecessor on Monday that required federal agencies to take steps to assess climate-related risks to the country's economy. The order revocation comes as part of a flurry of repeals and executive orders from Trump in his first days in office. The move, along with withdrawing the US from the Paris Climate Agreement, is in line with Trump's plans to distance his administration from former president Joe Biden's environmental goals, following campaign promises to focus on a deregulatory agenda and increase US oil production. "Climate extremism has exploded inflation and overburdened businesses with regulation," the executive order said. Biden issued his executive order in 2021 directing the federal government to take steps to assess climate risk impacts on the financial system, homeowners and businesses and then help inform the government and investors of those risks. It also required the identification of public and private financing needs to meet the Biden administration's net-zero emissions target for the US economy by 2050. But some of Biden's plans were already on their way out in the final days of his administration, while others are likely to be revisited by the government under Trump. The US Department of Defense (DOD), National Aeronautics and Space Administration (NASA), General Services Administration (GSA) on 13 January withdrew their proposed rule to amend the Federal Acquisition Regulation, which would have required major federal suppliers to publicly disclose GHG emissions and climate-related financial risk along with setting science-based GHG reduction targets in line with the executive order. The agencies cited a lack of time to finalize the rule, first proposed in 2022, before the end of the Biden administration. The lack of Trump support for federal climate-change disclosures is likely to slow progress on creating a national framework for measuring the impact of climate-change on US financial systems, investments, and housing among other sectors. The impact is likely to leave federal agencies unprepared to handle the aftermath, according to non-profit group Ceres. "Without comprehensive data and planning frameworks in place, federal agencies will be ill-equipped to protect taxpayer investments, ensure continuity of critical services, and build resilience against growing climate-related threats," said Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets. With the departure of US Securities and Exchange Commission's (SEC) chairman Gary Gensler on Monday, Trump's Republican replacement, acting chairman Mark Uyeda, will likely revisit the SEC's related disclosure requirements . Under a rule finalized last year, companies publicly listed in the US must begin disclosure of climate-related information by March 2026. But state-level action will continue even if the federal government unravels the previous administration's disclosure requirements. California has already mandated these disclosures. SB 261, signed by governor Gavin Newsom (D) in 2023 , requires companies operating in the state with revenues of $500mn/yr or more to biennially report, starting in 2026, the immediate and long-term climate-related financial risks within their operations and supply chain. The California Air Resources Board is taking public feedback to develop the regulations through July, with disclosures beginning in 2026. New York is also considering similar requirements. By Denise Cathey Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Trump to declare energy 'emergency': Update 2
Trump to declare energy 'emergency': Update 2
Updates with details throughout Washington, 20 January (Argus) — President Donald Trump today signed an executive order declaring a "national energy emergency" and said he plans to impose 25pc tariffs on imports from Canada and Mexico on 1 February. Returning to the White House for a second term, Trump signed a series of executive orders on energy and trade that he said will restore "common sense" to US policy. His orders aim to expedite permitting of energy infrastructure, tackle inflation, roll back climate programs put in place under former president Joe Biden and pursue a "drill, baby, drill" energy policy. In declaring a national energy emergency, Trump's order contends the Biden administration left a "precariously inadequate and intermittent energy supply, and an increasingly unreliable grid" that required swift action. Trump also froze all federal regulations, placed a temporary hold on hiring non-military federal workers, rescinded 78 Biden executive actions and memoranda and began rolling back Biden's climate legacy. "I'm immediately withdrawing from the unfair, one-sided Paris climate accord rip-off," Trump said at a rally held after his second inaugural ceremony. Trump's declaration of an "energy emergency" could bolster the legal rationale for some of energy policies and plans to expedite permitting. Trump also said he plans to end the "Green New Deal" — a reference to climate programs enacted under Biden — and revoke an "electric vehicle mandate" he said is threatening the US auto manufacturing sector. Trump also vowed to begin an "overhaul" of the US trade system to protect domestic workers and reiterated his support for tariffs, which he sees as a way to raise government revenue and support domestic manufacturing. "Tariffs are going to make us rich as hell," Trump said. They are "going to bring our country's businesses back that left us". While Trump is reiterating his threat to impose tariffs on Canada and Mexico, oil industry officials have warned such a move could disrupt the nearly 4mn b/d of crude the US imports from Canada. Trump stopped short of promised to erect tariffs on all US imports, saying: "We're not ready for that." On foreign policy, Trump said the US would "reclaim its rightful place" as the most powerful country in the world and reiterated plans to rename the Gulf of Mexico as the Gulf of America. Trump also promised still-unspecified actions to take control of the US-built Panama Canal in response to what he says has been unfair treatment of US ships, a claim that Panamanian president Jose Raul Mulino has rejected. "We gave it to Panama, and we're taking it back," Trump said during his second inaugural address. Trump signed an order to ease drilling restrictions in the Arctic National Wildlife Refuge and the National Petroleum Reserve in Alaska, while also prioritizing the development of the proposed 20mn t/yr Alaska LNG export terminal. Trump also said he wants to refill the US Strategic Petroleum Reserve (SPR), which is at 55pc of its capacity with 394mn bl of crude in storage, "right to the top". Refilling the SPR would require the US Congress to appropriate $32bn at current prices, to offset the costs of canceling 100mn bl of upcoming mandatory crude sales and buying about 300mn bl of crude. Trump signed an order to rescind a series of climate-related orders Biden had issued, measures the new administration says places "undue burdens" on energy production. And he imposed a temporary moratorium on leasing acreage in federal waters for wind projects. "We're not going to do the wind thing," Trump said. That drew an outcry from offshore wind advocacy group Turn Forward, whose executive director Hillary Bright said an emergency should require unleashing "all necessary sources of American energy — including offshore wind". During his campaign, Trump promised to cut the price of energy by 50pc within 12 months of taking office. But with regular grade gasoline averaging close to $3/USG and Henry Hub natural gas prices less $4/mmBtu this month, such a dramatic cut in prices would be difficult to achieve without causing major disruptions to industry. Environmentalists and Democratic-led states are also preparing to file lawsuits challenging Trump's deregulatory actions, a strategy they used during his first term with mixed success. Trump was sworn in in a relatively small ceremony inside the US Capitol, after calling off a more traditional, outdoor inauguration because of temperatures that were hovering around 23° F. Among those in attendance was Telsa chief executive Elon Musk, who spent more than $250mn to help elect Trump and is chairing a cost-cutting advisory panel. After being sworn in, Trump formally nominated his cabinet members, leaving it up to the Republican-controlled US Senate to hold confirmation votes. Trump also named Republicans to lead 15 independent agencies. Trump named Mark Christie as chairman of the US Federal Energy Regulatory Commission; Mark Uyeda as acting chair of the US Securities and Exchange Commission; and Patrick Fuchs as chair of the US Surface Transportation Board. Caroline Pham became acting chairman of the US Commodity Futures Trading Commission through a vote of its members. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Trump to declare energy 'emergency': Update
Trump to declare energy 'emergency': Update
Updates with changes throughout Washington, 20 January (Argus) — President Donald Trump pledged today to declare a "national energy emergency" as one of the first acts of his second term in office and has signed a series of executive orders designed to bring down energy costs, including pulling the US out of the Paris climate agreement. The executive orders on energy, trade and other issues will restore "common sense" in US policy, Trump said during his second inaugural address, moments after being sworn in at the US Capitol. The executive orders and emergency declaration are intended to expedite permitting of energy infrastructure, tackle inflation, roll back climate programs put in place under former president Joe Biden and pursue what Trump says is a policy to "drill, baby, drill". Trump signed his first set of executive orders during a rally tonight with supporters and plans to sign more orders later tonight at the White House. The first executive orders will implement an "immediate regulation freeze", put a temporary hold on hiring workers and rescind 78 of Biden's executive actions and memoranda. Trump also signed a directive to federal agencies to take steps to reduce the cost-of-living, along with a separate order that will withdraw the US from the Paris climate accord for a second time. "I'm immediately withdrawing from the unfair, one-sided Paris climate accord rip-off," Trump said at a rally later in the day. "The United States will not sabotage their own industries while China pollutes with impunity." Trump's declaration of an "energy emergency" could bolster the legal rationale for some of energy policies and plans to expedite permitting. Trump also said he plans to end the "Green New Deal" — a reference to climate programs enacted under Biden — and revoke an "electric vehicle mandate" he said is threatening the US auto manufacturing sector. Trump also vowed to begin an "overhaul" of the US trade system to protect domestic workers and reiterated his support for tariffs, which he sees as a way to raise government revenue and support domestic manufacturing. "Tariffs are going to make us rich as hell," Trump said. They are "going to bring our country's businesses back that left us." But it remains unclear if Trump will move ahead with his threatened 25pc tariff against Canada that oil industry officials have said could disrupt the nearly 4mn b/d of crude the US imports from Canada. On foreign policy, Trump said the US would "reclaim its rightful place" as the most powerful country in the world and reiterated plans to rename the Gulf of Mexico as the Gulf of America. Trump also promised still-unspecified actions to take control of the US-built Panama Canal in response to what he says has been unfair treatment of US ships, a threat that Panamanian president Jose Raul Mulino has rejected . "We gave it to Panama, and we're taking it back," Trump said. Trump is expected to take action soon to restart licensing of US LNG export terminals and support drilling in the Arctic National Wildlife Refuge. Trump said he wants the US to take advantage of its vast oil and gas reserves, which he said would reduce energy prices and increase energy exports. Trump also said he wants to refill the US Strategic Petroleum Reserve (SPR), which is at 55pc of its capacity with 394mn bl of crude in storage, "right to the top". Refilling the SPR would require the US Congress to appropriate $32bn at current prices, to offset the costs of canceling 100mn bl of upcoming mandatory crude sales and buying about 300mn bl of crude. Trump has yet to specify which parts of Biden's climate legislation he will work to overturn, which also would require congressional action. But the White House said the administration would consider rescinding all federal rules that put "undue burdens" on energy producers and stop leasing federal land to wind farms. "We're not going to do the wind thing," Trump said. That drew an outcry from offshore wind advocacy group Turn Forward, whose executive director Hillary Bright said an emergency should require unleashing "all necessary sources of American energy — including offshore wind." During his campaign, Trump promised to cut the price of energy by 50pc within 12 months of taking office. But with regular grade gasoline averaging close to $3/USG and Henry Hub natural gas prices less $4/mmBtu this month, such a dramatic cut in prices would be difficult to achieve without causing major disruptions to industry. Environmentalists and Democratic-led states are also preparing to file lawsuits challenging Trump's deregulatory actions, a strategy they used during his first term with mixed success. Trump was sworn in in a relatively small ceremony inside the US Capitol, after calling off a more traditional, outdoor inauguration because of temperatures that were hovering around 23° F. Among those in attendance was Telsa chief executive Elon Musk, who spent more than $250mn to help elect Trump and is chairing a cost-cutting advisory panel. After being sworn in, Trump formally nominated his cabinet members, leaving it up to the Republican-controlled US Senate to hold confirmation votes. Trump also named Republicans to lead 15 independent agencies. Trump named Mark Christie as chairman of the US Federal Energy Regulatory Commission, Mark Uyeda as acting chair of the US Securities and Exchange Commission,and Patrick Fuchs as chair of the US Surface Transportation Board. Caroline Pham became acting chairman of the US Commodity Futures Trading Commission through a vote of its members. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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