Global Climate News

The United States hosted a technical program on Carbon Capture, Utilization, and Storage (CCUS) from March 3-5, 2025, at the George R. Brown Convention Center in Houston, TX. The event featured presentations and discussions on various themes including subsurface storage, site selection, injectivity challenges, and global CCUS implementation. Companies like Net Power, ExxonMobil, and Chevron participated, highlighting advancements in CO2 storage and utilization technologies. The program also included discussions on policy innovations for CCUS in India and a model for developing oil and gas regions globally, such as the Niger Delta.

The European Energy Exchange (EEX) has introduced new \"Mon-Sun Peak Power Futures\" contracts for the Spanish market and short-term futures for the Greek power market, starting February 24, 2025. These aim to facilitate renewables integration by addressing the impact of solar power on electricity spot prices. EEX also extended expiries to ten calendar years for French and Dutch power markets to support renewables integration and provide PPA hedging opportunities.

Global leader in floating energy infrastructure, Höegh Evi, saw a 50% indirect ownership stake sale from funds managed by Morgan Stanley Infrastructure Partners to funds managed by Igneo Infrastructure Partners. Aequitas Limited retained its 50% shareholding.

Finland-based Nordea Bank has been elected to the Executive Committee of the Green Bond Principles (GBP) and Social Bond Principles (SBP). Since 2014, Nordea has helped issue more than 280 sustainable bonds totaling over USD 17 billion. The bank is also a founding member of the UNEP FI Principles for Responsible Banking and participated in the European Commission’s Technical Expert Group on Sustainable Finance.

Danish startup EIVEE, providing carbon accounting solutions, attended Nordea’s investor speed dating. They help companies reduce their carbon footprint by calculating scope 1, 2, and 3 greenhouse gas emissions. EIVEE had eight meetings with investors and received positive feedback.

Kjetil Olsen, Nordea's chief economist, discussed current economic challenges, including high inflation and the need to curb economic growth through interest rate hikes. He also highlighted three key challenges shaping the world economy: the green transition requiring massive investments in renewable energy, the decline of globalization potentially impacting product pricing, and demographic shifts leading to potential labor shortages.

The Environment Agency in England issued an environmental permit (EPR/DP3498HP) to Southern Water Services Limited for the Ham Hill Wastewater Treatment Works & Sludge Treatment Centre in Kent, under the Industrial Emissions Directive.

The UK's Ofgem extended Jonathan Brearley’s term as CEO for five more years until 31 January 2030. Ofgem has been leading the transition to a clean power electricity system to reach net zero by 2050, developing and executing changes in energy infrastructure planning, building and supervision, and reshaping the retail market.

The Nordea Economic Outlook report discusses the impact of the green and digital transition on inflation, noting that it may lead to higher inflation due to new taxes and increased demand for certain minerals. The report also mentions the potential for AI to boost productivity in the long term, but highlights challenges like retraining the workforce. The report analyzes the resilience of Nordic economies to monetary tightening and the global economic downturn.

The article discusses the growth of ESG data services and ratings in financial markets, driven by the European Commission’s Action Plan on Sustainable Finance. It highlights the increasing investment in ESG data services, the need for harmonization of concepts and methodologies, and the importance of improving data availability and quality. The article also points out inherent biases in ESG ratings and suggests best practices for corporations in working with ESG ratings and data.

The European Commission launched a public feedback period on a uniform format for Member States’ national restoration plans under the Nature Restoration Regulation. The aim is to reduce administrative burden and improve transparency in the implementation of the EU’s Nature Restoration Law, which aims to restore Europe’s environment and ensure the availability of ecosystem services.

The EU's greenhouse gas emissions decreased by 7% in 2023 compared to 2022 and by 18% compared to 2013, totaling 3.4 billion tonnes of CO2 equivalents. Electricity, gas, steam, and air conditioning supply saw the most significant reduction (43%). Transportation and storage was the only sector with increased emissions (14%). Household emissions also decreased by 14%. The greenhouse gas emissions intensity decreased by 32% from 2013 to 2023.

The European Commission announced that the 2025 EU Sustainable Energy Week (EUSEW) will focus on "Powering a fair and competitive green transition." The event, scheduled for June 10-12, 2025, will address key energy priorities, including increasing investments in clean energy and technologies. Calls for policy session proposals and EUSEW Awards nominations are open.

UK-based Cellcycle, part of The SER Group, developed a new direct recycling process for lithium-ion batteries using green solvents. This process recovers over 95% of cathode active material at temperatures below 80 degrees, reducing carbon emissions and eliminating the need for hydrometallurgy and pyrometallurgy. Cellcycle also partnered with CL Refurbishments Ltd for a recycling solution for lithium thionyl chloride batteries.

Swedish LKAB, Boliden, and Vattenfall were mentioned in the context of discussions around corporate governance, sustainability, and long-term investments. The article highlights how these companies approach sustainability and emission reduction goals, particularly in mining and energy sectors. No specific actions or targets are announced.

The Nordic sustainable bond market saw a record-breaking year in 2023, exceeding USD 60 billion in issuance, a 16% increase from 2022. This growth outpaced the global market, and three out of four quarters saw record issuance levels. The sustainable share of the total Nordic bond market reached 13% in 2023, up from 9% in 2021 and 11% in 2022. Denmark showed particularly strong growth, with sustainable bonds representing 21% of its yearly bond volume in 2023.

The UK government is exploring a smart data scheme for the energy sector, aiming to replicate the success of Open Banking. The scheme would allow customers to securely share their energy consumption data with authorized third parties to receive personalized services, potentially leading to cost savings and increased control over energy usage. The call for evidence will remain open until March 10, 2025.

UK-based Mannington Energy Centre Limited has been granted an electricity generation licence by Ofgem on January 8, 2025, authorizing it to generate electricity.

The EU's greenhouse gas emissions decreased by 7% in 2023 compared to 2022 and by 18% compared to 2013. Electricity, gas, steam, and air conditioning supply saw the most significant reduction (43%). Transportation and storage were the only sectors with increased emissions (14%). Household emissions also decreased by 14%. The greenhouse gas emissions intensity decreased by 32% from 2013 to 2023.

UK-based Green Blades Engineering Limited has been granted an electricity generation licence by Ofgem, authorizing it to generate electricity.