Carbon markets
Overview
Argus carbon markets services provide essential insight into global industry trends, policy changes, and regulatory developments. They include access to analysis and price for the green markets assessments, including renewable energy certificates, voluntary carbon credits, CO2 permits, EU Emissions Trading systems (ETS), SO2 and NOX.
Key markets covered
- Europe
- EUA (EU ETS allowances)
- CER (certified emission reductions)
- ERU (emission reduction units)
- US & Canada
- RECs (renewable energy certificates)
- Carbon markets for California, RGGI (Regional Greenhouse Gas Initiative), and Canada
- California and Oregon LCFS (low-carbon fuel standard)
- Biofuel RINs (renewable identification numbers)
- SO2 and NOX
Latest carbon markets news
Browse the latest market moving news on carbon markets.
Cepsa rebrands to Moeve to reflect sustainability shift
Cepsa rebrands to Moeve to reflect sustainability shift
Madrid, 30 October (Argus) — Spain-based integrated energy company Cepsa has changed its name for the first time in its 95 years of existence, to Moeve (pronounced Moo-eh-vey). The change reflects Cepsa's transition "in which the majority of profits will come from sustainable activities by the end of this decade," said chief executive Maarten Wetselaar. Cepsa has sold nearly 70pc of its oil and gas production over the past two years, including its stakes in upstream assets in Abu Dhabi , in Peru and in Colombia . It has retained stakes in light crude and gas production in Algeria, which has a significantly lower carbon footprint. The company reported provisional working interest crude production of 36,000 b/d in July-September, down from 80,000 b/d in the same period of 2021. Since then it has announced an €8bn ($8.65bn) investment strategy to decarbonise much of its business through ventures such at the planned 2GW Andalusian Hydrogen Valley , announced at the end of 2022, together with second-generation biofuels, biomethane and renewables development. Cepsa, or Compañia Espanola de Petroleos SA, was founded in 1929. It has been been majority controlled by Abu Dhabi sovereign wealth investors IPIC and Mubadala Investment Company since 2011. US investment fund Carlyle acquired 37pc of the firm in 2019. By Jonathan Gleave Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Australia to support four new carbon credit methods
Australia to support four new carbon credit methods
Sydney, 30 October (Argus) — The Australian federal government will support the development of four new carbon crediting project methodologies proposed outside of government, federal energy minister Chris Bowen announced today. A total of 39 expressions of interest under the proponent-led model launched earlier this year were submitted to the Emission Reduction Assurance Committee (Erac), the statutory body responsible for ensuring the integrity of Australia's carbon crediting framework. The four selected proposals will now move on to the development phase. "Capturing opportunities across Australia remains a key priority for the government, and we've been working to deliver on the Chubb Review recommendation to bring forward more innovative ways to reduce emissions," Bowen told delegates at the Carbon Market Institute (CMI)'s Australasian Emissions Reduction Summit in Melbourne on 30 October. Two of the selected methods were proposed by state governments — the "improved native forest management in multiple-use public native forests (INFM)" method, put forward by the New South Wales (NSW) department of climate change, environment, energy and environment, and the "improved avoided clearing of native regrowth (IACNR)" proposed by the Queensland department of environment, science and innovation. The two others came from indigenous groups — the "extending savanna fire management to the northern arid zone" proposed by the Indigenous Desert Alliance, and the "reducing disturbance of coastal and floodplain wetlands by managing hooved animals" proposed by Northern Australian Indigenous Land and Sea Management Alliance. The successful proponents will now lead work on the drafting of the methods, with the Erac to publish the draft methods for public consultation before recommending them to the minister. A representative from the Department of Climate Change, Energy, the Environment and Water (DCCEEW) previously said that developing a new method under the proponent-led model could take 1-2 years. Delays with new methods The development of new Australian Carbon Credit Unit (ACCU) framework methods had been until now led by the federal government, but this has proved "too slow," CMI's chief executive John Connor previously said. Work on a remake of the Environmental Plantings (EP) method, which will make it easier for landholders to undertake projects, is expected to be finalised by the end of the year, Bowen said on 30 October. The method already expired on 30 September this year. And exposure drafts for three other priority methods will only be delivered in the first half of next year, Bowen noted, including the long-awaited government-led Integrated Farm and Land Management (IFLM) method that will combine activities of several existing soil and vegetation sequestration methods into a single method. This includes the key human-induced regeneration (HIR) ACCU method, which expired on 30 September 2023. The DCCEEW had previously indicated the IFLM exposure draft would be sent to Erac by the end of this year, which would then be followed by public consultation. The other exposure drafts are for new savanna fire management methods and for a reformed landfill gas method which could potentially lead to tighter supplies in the future . By Juan Weik Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Rodeo renewable jet unlikely in 4Q: Phillips 66
Rodeo renewable jet unlikely in 4Q: Phillips 66
Houston, 29 October (Argus) — Phillips 66's renewable fuels refinery in Rodeo, California, plans to start producing renewable jet fuel by the first quarter of next year and is now running higher carbon intensity (CI) feedstocks to produce renewable diesel (RD). "We're currently running off higher CI feedstocks for the plant as we prepare for the production tax credit next year," Phillips 66's executive vice president of marketing and commercial Brian Mandell said on an earnings call today, referring to the Inflation Reduction Act's (IRA) 45Z tax credit . He said it was not likely renewable jet fuel would be produced before year-end. The plant successfully produced sustainable aviation fuel (SAF) in September, chief executive Mark Lashier said on the call. "We will fully intend to be a supplier of sustainable aviation fuel to the marketplace," he said. The company's renewable fuels business logged a $116mn loss in the third quarter compared to a profit of $22mn in the same three months of 2023, according to earnings released today . Still, Phillips 66 thinks renewable refining margins have room to widen "into the fourth quarter and beyond," Mandell said. Low feedstock prices, limited imports to the US, a tight fossil diesel market on the west coast and "stronger" credit markets will widen RD margins, according to Mandell. By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Central America, Caribbean lag behind renewable targets
Central America, Caribbean lag behind renewable targets
New York, 29 October (Argus) — Central America and the Caribbean are falling behind global renewable goals for 2030, international renewable energy agency Irena said. The next five years "will be crucial for making the necessary investments and implementing concrete political measures," the agency said in a report ahead of the UN's Cop 29 climate conference in Baku, Azerbaijan, next month. Renewable sources accounted for 38.7pc of Central America and the Caribbean's power capacity in 2023, lifted by a year on year installed capacity growth of 5.2pc, or 900MW of new renewable projects. But to achieve the global goal of tripling renewable energy capacity by 2030, the region needs an average annual growth rate of renewables of 16.4pc, Irena said. Some countries have been doing better than others at installing renewable capacity, the report said. Costa Rica, Guatemala and Panama have been expanding renewable capacity, while Trinidad, Dominican Republic and Jamaica are seeking investments. But cost is a problem for small countries attempting to transition from their high dependence on fossil fuels. Some hurdles for small countries can be overcome by tax credits, levies and duty exemptions on key materials and components, Irena suggested. Revenues from fossil fuel taxes could also be used, it said. By Canute James Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Explore our carbon markets products
Related events
Argus Green Marine Fuels Asia Conference
Argus Green Marine Fuels Asia Conference
Argus Clean Ammonia North America Conference
Argus Clean Ammonia North America Conference
Argus Asia Carbon Conference
Argus Asia Carbon Conference
