ELKINSVILLE, La. (AP) — A dispute over a planned ammonia plant near a historic Black town in southeastern Louisiana ratcheted… ELKINSVILLE, La. (AP) — A dispute over a planned ammonia plant near a historic Black town in southeastern Louisiana ratcheted up a notch Friday with a challenge to the state’s approval process. The battle over the plant is occurring despite the fact that part of the impetus to build it is a provision in a key climate law signed by President Joe Biden. The company claims it will store underground almost all of the climate-damaging carbon dioxide emitted in the…
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A new report from Viridios AI, a provider of carbon credit pricing and data, offers valuable insights into the current landscape of the voluntary carbon market (VCM). It shows the VCM experienced relatively low trading activity, with notable fluctuations in the prices of specific projects. However, year-to-date retirements in 2024 reveal strong demand for carbon credits and they’ve exceeded those in the same period in 2023. We highlight the key insights below that may have a huge impact on the VCM’s future. Demand Outpaces Supply With Record Carbon Credit Retirements Viridios AI used data from the four major carbon registries…
Sounds like there’s hope for the planet yet. Almost half of employees and consumers believe it’s important for companies to disclose their environmental impact and climate-related risks, PwC’s 2024 Trust Survey shows (PwC is a sponsor of this newsletter). When it comes to building trust in an age when people have so many ways to share information, Aidan Madigan-Curtis reckons such honesty is at a premium. “Being frank and being truly transparent about your business—what it is doing, what it is not doing, what it stands for, and everything in between—is more important than ever,” says the partner at venture capital…
Oregon is one step closer to using a state forest to help capture and store more planet-warming greenhouse gases, and to fight climate change and earn money through the carbon market. Leaders at the Department of State Lands signed a development agreement Thursday to enter all of the nearly 83,000-acre Elliott State Forest near Coos Bay into the voluntary carbon market for 40 years. The project will be managed by the carbon brokerage and development company Anew Climate, with offices in Houston, Texas, Salt Lake City, Utah and Calgary, Canada. It’s the first such agreement on state-owned lands in the…
A group of Canada’s largest oil sands companies, the Pathways Alliance, is in active discussions with Canada Growth Fund (CGF), the federal government’s $15-billion green investment arm, to secure backing for a substantial carbon capture and storage (CCS) project in northern Alberta. CCS technology is seen as one of the most effective solutions to reduce emissions in high-polluting sectors like oil, gas, and cement. Canada views this carbon management approach as essential for achieving its net-zero emissions goals. Carbon Capture Enters the Big Leagues But Price Uncertainty Raises Concerns The country currently operates several CCS projects that have stored around 44…
The U.S. Department of Energy approved a $2.26 billion loan for Lithium Americas to construct the Thacker Pass lithium mine in Nevada. It is one of the largest mining investments by the Biden administration. The loan, originally approved in March, aligns with the White House’s objective to reduce dependency on China for lithium, a critical element for EV batteries. This announcement follows the recent approval of another lithium project by ioneer. Thacker Pass Set to Boost U.S. Lithium Independence Expected to open later this decade, Thacker Pass will play a major role in the U.S. supply chain. It has the…
Nikola, America’s favorite zero-emissions truck brand, released its first Sustainability Impact Report. This report provides a comprehensive picture of Nikola’s environmental and social initiatives and explains their progress toward sustainability goals. Nikola owns battery-electric vehicles (BEVs) and hydrogen fuel cell (FCEV) Class 8 trucks, designed specifically to make the environment safer and cleaner. Most significantly, HYLA’s hydrogen refueling ecosystem offers a robust hydrogen infrastructure to support the shift to sustainable fuel sources. Driving Towards a Zero-Emission Future The Environmental Protection Agency (EPA) reports that transportation generates around 28% of direct U.S. greenhouse gas (GHG) emissions. Medium- and heavy-duty trucks alone…
The U.S. recently expanded a manufacturing tax credit to cover extraction and material costs, benefiting metal refiners but excluding pure mining companies. This update was announced in final regulations by the Treasury Department and Internal Revenue Service (IRS). The credit, known as the Section 45X Advanced Manufacturing Production Credit, is part of the Inflation Reduction Act. It aims to support the domestic production of clean energy products, including renewable components, battery materials, and 50 essential minerals critical to the energy transition. What is Section 45X Tax Credit and How Does It Work? Since its inception, the Advanced Manufacturing Production Credit…
In the lead-up to COP29, several major announcements on carbon markets are anticipated. These will likely include updates on Article 6 cooperation, enhanced compliance mechanisms, and new developments in voluntary carbon markets (VCM). A report by the Allied Offsets on carbon markets outlines the evolving landscape and its implications for companies and policymakers. Here are our major takeaways from the report. What is Article 6 All About? Article 6 of the Paris Agreement allows countries to meet their climate targets by working together through carbon markets (Articles 6.2 and 6.4) and other non-market approaches (Article 6.8). Article 6.2 facilitates international…
Gentoo.earth, a California-based company has launched an advanced, AI-powered intelligence platform to support carbon removal companies to scale up their operations. The company is founded by Juliet Kirby, an ex-Product Manager at Australian food-tech company Harvest B and former Oliver Wyman Management Consultant. With powerful insights into market trends, their innovative tool can simplify the complexities of carbon removals and support companies for a lasting impact. This strategy will also help rebuild the VCM from the very beginning to achieve a measurable impact. Fixing a Market in Crisis: Tackling VCM Challenges with Innovation and Transparency The company has fairly analyzed…