Real Estate Decarbonization Fund, Canada investigates renewable diesel dumping, EU Gas Storage Regulation

The CBSA launches investigations into the alleged dumping and subsidizing of renewable diesel from the United States - Canada.ca

(March 06)

Canada has initiated investigations into the alleged dumping and subsidizing of renewable diesel imports from the United States. The Canada Border Services Agency (CBSA) is responding to a complaint by Tidewater Renewables Ltd., which claims that these imports have caused material injury to Canadian industries. The Canadian market for renewable diesel imports is estimated to be over $1.4 billion annually. The CBSA and the Canadian International Trade Tribunal (CITT) will conduct investigations to determine the impact and legality of these imports.

canada.ca

SSE Renewables, APB/APG and TenneT sign realisation agreement for 2GW IJmuiden Ver Alpha offshore grid connection

(February 03)

Netherlands-based TenneT, along with SSE Renewables and the consortium of pension fund ABP and pension investor APG, signed a realisation agreement for the IJmuiden Ver Alpha offshore grid connection. This wind farm, located 60 kilometers off the Dutch coast, will be the first to connect using the new 2GW direct current standard. The project aims to enhance nature and biodiversity, with electricity expected to come ashore in Borssele and be operational by the end of 2029. The consortium won the tender in June 2024, focusing on ecological contributions and collaborating with Naturalis Biodiversity Center to monitor ecosystem impacts.

tennet.eu

Lords committee hears from Tom Bradshaw about the use of nitrogen in agriculture

(March 03)

UK-based House of Lords Environment and Climate Change Committee continued its inquiry into the efficient use and management of reactive nitrogen. The session included testimonies from Tom Bradshaw, President of the National Farmers Union, and other experts on innovative farming methods and fertiliser application. Discussions focused on nitrogen management approaches, catchment sensitive farming schemes, and the effectiveness of nature-based approaches to reducing nutrient pollution. The inquiry aims to explore the role of supermarkets and suppliers in supporting a reduction in nitrogen pollution.

parliament.uk

Prolongation of the Gas Storage Regulation and Recommendation to the Member States

(March 04)

The European Union has proposed a two-year extension of the Gas Storage Regulation to ensure energy security and market stability. This regulation has been crucial in providing additional gas supply during high demand or supply disruptions, contributing 25-30% of winter gas consumption in the EU. The extension aims to maintain security against potential supply risks, especially in winter, and will be reviewed in 2026 for more permanent measures. The proposal includes flexibility for Member States to refill storage without market distortions, with a focus on coordinated action to maintain energy security across the Union.

ec.europa.eu

Chenavari's CRED Fund Receives ELTIF Approval for Decarbonisation

(February 18)

France-based Chenavari Asset Management announced that its Chenavari Real Estate Decarbonisation Fund (CRED) received the ELTIF 2 approval from the French Financial Markets Authority (AMF). CRED is focused on financing the energy transition of commercial real estate in Europe, including countries like France, Germany, Benelux, Italy, and Spain. The fund aims to reduce the carbon footprint of buildings by financing renovation and energy performance improvement projects. Current senior value-add financing operations in France offer gross yields of approximately 7% with a Loan-to-Value (LTV) ratio of around 55%. The ELTIF 2 approval allows a broader range of European professional investors to access this mortgage debt strategy, aligning with their ESG commitments.

chenavari.com

Padilla, Schiff, Whitehouse Blast Trump and Zeldin’s Weaponization of EPA as GAO Determines Clean Air Act Waivers Not Subject to Congressional Review Act - Senator Alex Padilla

(March 06)

US-based Senators Alex Padilla, Adam Schiff, and Sheldon Whitehouse criticized the Trump administration's EPA for attempting to undermine California's Clean Air Act waivers. The Government Accountability Office (GAO) determined that these waivers are not subject to the Congressional Review Act, supporting California's right to set its own vehicle emissions standards. The senators accused the Trump EPA of prioritizing polluting industries over public health and environmental protections, which are crucial for reducing carbon emissions and combating climate change.

padilla.senate.gov

Luján, Cramer Announce Reintroduction of Bipartisan Legislation to Develop New Technology to Identify and Plug Orphaned Wells - Senator Ben Ray Luján

(March 03)

US Senators Ben Ray Luján and Kevin Cramer announced the reintroduction of the Abandoned Well Remediation Research and Development Act (AWRRDA) to address the issue of abandoned gas and oil wells. These wells can leak methane, contaminate groundwater, and pose safety risks. The AWRRDA aims to enhance existing remediation programs by funding research to develop technology for detecting and cataloging wells, quantifying methane emissions, and exploring alternative uses for wells, such as geothermal power production. This initiative builds on the REGROW Act, part of the Bipartisan Infrastructure Law, and seeks to create jobs and boost economic growth.

lujan.senate.gov

Singapore's Climate Action and Low-Carbon Transition Plans

(February 28)

Singapore has reaffirmed its commitment to climate action by submitting its 2035 Nationally Determined Contribution (NDC) to the UNFCCC, aiming to reduce emissions to between 45 to 50 million tonnes of CO2 equivalent by 2035. This builds on its previous target to peak emissions at 60 million tonnes by 2030 and aligns with the Paris Agreement's goals. Singapore has also achieved its solar deployment target of 1.5 GWp ahead of schedule and is on track to electrify half of its public bus fleet by 2030. The country plans to increase its carbon tax progressively to $50-$80 per tonne by 2030 and is exploring cross-border solutions like electricity imports and carbon credits to overcome its energy limitations.

pmo.gov.sg

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