Carbon

Suncor Energy Inc., one of Canada’s largest oilsands independents, has agreed to join a group of oil and gas heavyweights to back Svante Inc. as it works to accelerate commercializing more carbon capture technologies. The latest $25 million infusion is designed to fund technology to reduce greenhouse gas (GHG) emissions in industrial applications and to…

Canada’s carbon tax is set to increase on schedule in April after the country’s highest court on Thursday upheld the Trudeau government’s environmental policy. A six-judge majority on the nine-seat Supreme Court of Canada rejected provincial rights challenges against the levy by the Ontario, Alberta and Saskatchewan governments. The fossil fuel consumption tax, enacted by…

An ambitious goal for the world’s largest cargo airline, FedEx Corp. announced that it is aiming to achieve carbon-neutral operations globally by 2040 with a $2 billion initial investment.  This initial spending is designed to advance the company’s push for vehicle electrification, sustainable energy and carbon sequestration.  “We have a responsibility to take bold action…

Chevron Corp. CEO Michael Wirth during the annual investor meeting on Tuesday said the supermajor’s message to investors could best be summed up in four words: higher returns, lower carbon.  Wirth, together with his executive team, laid out a broad global development plan centered around increasing returns on capital employed while slicing the carbon intensity…

CME Group plans to launch a futures contract in March that would provide a regulated, market-based solution to manage global emissions risk. The Global Emissions Offset (GEO) futures contract, which is pending relevant regulatory reviews before a launch on March 1, was jointly developed with Xpansiv CBL Holding Group, a data and technology firm focused…

State-owned Qatar Petroleum (QP), the world’s leading liquefied natural gas (LNG) exporter, has unveiled an ambitious plan to cut emissions and drastically reduce the environmental footprint of its fossil fuel operations.  The company said its “sustainability strategy” establishes targets to align with the goals of the United Nations climate accord, aka the Paris agreement, drafted…

A roundup of news and commentary from NGI’s LNG Insight European carbon credits hit $37.57 this week, a high not seen since 2006, according to EBW Analytics Group. “Increases in carbon prices in the European Union are bullish for natural gas in the U.S., since the impact on coal-fired generators in Europe is twice as…

More than 75% of new liquefied natural gas (LNG) global supply could be at risk because of quickly expanding renewable energy resources, according to an analysis by Wood Mackenzie. In a forecast issued on Wednesday, the consultancy said its scenario for worldwide gas demand is going to come under pressure as power sector investments increase…

Non-carbon energy is expected to reach or exceed 10% of global primary energy demand for the first time ever in full-year 2020, according to new analysis by IHS Markit’s Jim Burkhard, head of oil markets, energy and mobility. Non-carbon refers to wind, solar, geothermal, hydroelectric and nuclear power. Non-carbon energy’s share of global energy demand…