The Voluntary Carbon Market Company (VCM), a carbon credit company established by PIF and Saudi Tadawul Group, and Enowa, the energy and water subsidiary of NEOM, have announced a long-term agreement to facilitate the delivery of approximately 30 million tonnes of carbon credits within this decade. The scale and duration of the agreement marks a significant milestone in VCM’s ambition to create a thriving voluntary carbon market in the region. The deal will see high integrity carbon credits delivered to Enowa from climate action projects from around the world, with most projects based in the Global South and transacted on…
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But France believes such a cap is too low. “From what we understand — from what Germany has signaled, but also from what Commissioner Hoekstra has signaled — there is some discussion around 3 percent,” said the official, like others in this article granted anonymity to speak candidly. “We think it could go beyond that.” A senior official from one EU government confirmed Hoekstra had mentioned the 3-point limit in discussions with countries. Officials from two other EU governments, who asked that their countries not be identified, said they had also heard the Commission was leaning toward a 3 percentage point cap,…
With the green growth model, the carbon credit market is the decisive economic tool to promote greenhouse gas reduction and climate response. Source link
Electric fleets in commercial and institutional transport can generate verifiable carbon credits, unlocking new revenue streams while supporting climate goals. Yet in markets like India, regulatory gaps and low awareness are stalling progress. Source link
A prolonged conflict between Israel and Iran may do more than rattle energy markets. One argument on Wall Street is that it could push the Federal Reserve to cut interest rates sooner than expected. “A sustained rise in oil prices could cause the Fed to strike a more dovish tone,” Oxford Economics chief US economist Ryan Sweet wrote in a recent note to clients, arguing that an extended oil shock could dent demand and potentially spill over into an otherwise resilient labor market. That’s because, historically, sudden spikes in oil prices tend to cause only a temporary rise in inflation…
Foreign buyers of US Treasurys have been shedding their holdings, raising the possibility of more future turbulence for US government bonds, Bank of America titled said. In a report on Monday titled “Foreign UST Demand Shows Cracks,” the bank said that foreign investors, often central banks, are purchasing fewer Treasurys. Megan Swiber, rates strategist at Bank of America, wrote on Monday that US dollar asset holdings have declined over $60 billion since the beginning of April. Foreign participation in the most recent US 20-year Treasury auction was the lowest since July 2020.”The foreign demand trajectory going forward is concerning, especially…
While ASEAN’s uptake of national carbon credit schemes is promising, member states must cooperate to confront challenges faced in other nationally driven schemes Source link
The EU’s Emissions Trading System is essential to meeting the European Union’s 2040 climate target. Watering the EU ETS down with international carbon Source link
Amazon is ramping up its net-zero commitment and reducing carbon emissions from its logistics operations by increasing its use of sustainable aviation fuel (SAF). The e-commerce giant just announced it will buy over 9 million liters, or about 7,500 metric tons, of SAF. This will come from Finnish producer Neste. The fuel will power Amazon Air cargo flights until 2025. This volume will aid cargo operations at two key California airports: San Francisco International and Ontario International. This move follows Amazon’s previous SAF investments, including more than 6 million liters used in 2023. Since then, the company has been increasing…
A prolonged conflict between Israel and Iran may do more than rattle energy markets. One argument on Wall Street is that it could push the Federal Reserve to cut interest rates sooner than expected. “A sustained rise in oil prices could cause the Fed to strike a more dovish tone,” Oxford Economics chief US economist Ryan Sweet wrote in a recent note to clients, arguing that an extended oil shock could dent demand and potentially spill over into an otherwise resilient labor market. That’s because, historically, sudden spikes in oil prices tend to cause only a temporary rise in inflation…