Global Climate News

A recent report by the North American Council for Freight Efficiency (NACFE) estimated that greenhouse gas emission savings from natural gas engines for trucks are 13%–18% compared to diesel. However, a well-to-wheel analysis, considering methane leakage in natural gas production, shows that the climate benefits are marginal, with potential for CNG trucks to be worse than diesel if methane leakage exceeds 2.5%. The study highlights the risk of technology lock-in with CNG trucks, potentially hindering the adoption of zero-emission vehicles in the future.

US-based Well Done Foundation, in collaboration with the U.S. Fish and Wildlife Service and Well Done New Mexico LLC, will plug over 110 orphaned oil and gas wells across four National Wildlife Refuges. This initiative aims to restore habitats, protect resources, and eliminate methane emissions, estimated at over 1.5 million metric tons since 2019.

The Texas Attorney General, Ken Paxton, led a 23-state coalition in suing the U.S. Environmental Protection Agency (EPA) over a final rule that would impose a methane tax on the oil and gas industry. The lawsuit argues the rule is unlawful, exceeding the EPA’s statutory authority and harming America’s energy industry. The rule was created in the Inflation Reduction Act and aims to generate revenue for climate benefits.

Researchers from various international institutions have presented coupled geochemical and microbiological data from 47 geothermal seeps in Costa Rica and Panama. Their analysis of methane-cycling microorganisms and clumped isotope data showed that biotic and abiotic processes influence methane cycling, impacting climate stability.

NASA confirmed 2024 as the warmest year on record, exceeding the 2023 record by 2.30 degrees Fahrenheit (1.28 degrees Celsius) above the 1951-1980 baseline. The annual average may have exceeded 1.5 degrees Celsius above the baseline for the first time. This warming trend is attributed to heat-trapping greenhouse gases like carbon dioxide and methane.

The article discusses the nomination of Lee Zeldin as the EPA administrator under the Trump administration. Zeldin's past financial ties to the oil and gas industry and his stance on climate change legislation are highlighted. Concerns are raised regarding potential weakening of environmental regulations and cuts to the EPA's budget under his leadership. The article proposes three key questions for Zeldin regarding factory farm pollution, greenhouse gas emissions, and the safety of agricultural chemicals.

Responsible Investors (RI), a group of over 550 asset managers and financial institutions, managed over USD 130tn in loans and investment portfolios to fight climate change. They launched Climate Investing 2.0, a strategy targeting companies in the green economy's early transition phase. RI also launched Global Social Bond and Solutions Strategies, and a Global Sustainable Listed Real Assets Strategy focusing on greening energy, telecoms, and transportation sectors. In 2022, they engaged with the top 200 emitters and 15 oil and gas companies on methane emissions, representing EUR 2.1tn in AUM. They conducted 994 engagements, with over 10% resolved. RI received the European ESG Manager of the Year award.

US-based NRDC supported over 20 cities diverting over 35,750 tons of food waste, preventing nearly 62,000 metric tons of emissions. $11.5 million in USDA grants funded 38 composting projects. California banned confusing food date labels. Illinois mandated organic waste collection at large events. Michigan aims to halve food waste by 2030. The National Strategy for Reducing Food Loss and Waste was released. The Zero Food Waste Coalition grew to over 250 members. EPA invested $39 million in a national campaign.

Multiple countries pledged to increase climate finance and achieve emission reduction targets at COP27. Developed countries aim to deliver at least USD 100 billion in climate finance this year and double adaptation finance by 2025. Around 20 of 200 countries submitted updated commitments, with Australia's being the most significant. Nordea, as part of GFANZ, is committed to net-zero transition targets and plans. Africa is likely to raise the issue of loss and damage help.

South Africa's Department of Water and Sanitation is finalizing regulations for unconventional gas extraction, including fracking, coal bed methane, and underground coal gasification. The regulations aim to manage water resource impacts from these activities. A public comment period has been extended to January 15, 2025.

Washington state's greenhouse gas emissions decreased by 13.8% in 2020, meeting the legal limit. However, emissions rose by 8.8% in 2021, primarily due to increased transportation sector activity post-pandemic. Despite this, 2021 emissions remained below 2019 levels. Positive trends in renewable energy and clean vehicle adoption were observed. The state aims to reduce emissions by 45% below 1990 levels by 2030.

The US Department of Treasury issued final guidance for the Section 45V Hydrogen Production Tax Credit, aiming to advance domestic clean hydrogen production. The credit, part of the 2022 Inflation Reduction Act, incentivizes low-emission hydrogen production methods, including electrolysis and carbon capture with natural gas. The guidance includes criteria for determining the incrementality of existing clean electricity used for hydrogen production and sets a target for hourly matching of clean electricity by 2030.

The U.S. Department of Treasury released final guidance for the Inflation Reduction Act (IRA) 45V clean hydrogen tax credits. The final guidance clarifies flexibilities to qualify for the credits, including for nuclear power plants at risk of retirement and for states with robust GHG emissions caps. It also clarifies how emissions from different sources of methane will be separately accounted for, ruling out harmful offset schemes. Erik Kamrath of NRDC commented on the rule's importance for a clean hydrogen industry, noting both its positive aspects and areas needing further attention, such as methane emissions.

The US Department of Treasury and IRS released final rules for the section 45V Clean Hydrogen Production Tax Credit. The rules clarify eligibility for the credit for hydrogen producers using various sources, including electricity, natural gas with carbon capture, and renewable natural gas. The rules also include prevailing wage and apprenticeship standards and aim to accelerate clean hydrogen deployment.

US-based Duke Energy increased incentives and eligibility for its residential and business energy efficiency and demand response programs in North Carolina. Incentives for some programs doubled or tripled. For example, Smart $aver home improvement rebates for HVAC, insulation, and water heaters increased from $350 to $500, and pool pump incentives tripled from $300 to $900. The company also expanded assistance programs, increasing incentives for weatherization and offering a new income-qualified demand response program.

Peru-based start-up Cirkula, supported by CATAL1.5°T, an initiative funded by the Green Climate Fund and implemented by GIZ, has developed an app to reduce food waste. The app has rescued 45,000kg of food, reduced 100,000kg of CO2 emissions, and saved USD 300,000. Cirkula aims to reduce 4 million kg of food waste and 9 million kg of CO2 emissions in the next 5 years.

US-based Bezos Earth Fund, in partnership with Experiment Foundation, announced the winners and finalists of its $1M Greenhouse Gas Removal Ideation Prize. The prize, structured in two phases, awarded funding to projects focusing on diverse greenhouse gas removal technologies, aiming to significantly contribute towards removing gigatonnes of greenhouse gases annually by 2050.

The US Department of Energy (DOE) and the Environmental Protection Agency (EPA) announced about $850 million for 43 projects to reduce methane emissions from the oil and gas sector. This funding, from President Biden’s Investing in America agenda, builds on nearly 100 actions to reduce methane pollution. The projects will support small operators, Tribes, and other entities using available and innovative technologies.

The EU Platform on Sustainable Finance published a report on Investing for Transition Benchmarks (ITBs) and ITBex, proposing voluntary benchmarks to guide investments towards a net-zero economy. The benchmarks aim to increase transparency, incentivize sustainable CapEx, and reduce greenwashing. They incorporate decarbonization trajectories aligned with the IPCC's $1.5^{\\circ}C$ scenario and target increases in Taxonomy-aligned CapEx, with different trajectories for developed and emerging markets. A three-year review process is planned to adapt to market and data developments.

Researchers have developed a new catalyst using Palladium nanoparticles loaded on CoNi-hydroxides nanosheets for efficient CO2 methanation. The catalyst achieved a methane production rate of 2255 μmol per gram catalyst per hour at 573K, doubling the performance of pristine CoNi-hydroxides catalyst. The innovation represents advancement in CO2 conversion technology for carbon cycling.