Singapore-Bhutan Article 6 Agreement, Synthetic fuels for Shipping, EU-India Trade and Technology Council
UK Welcomes World’s First Ammonia-Powered Vessel for Maritime Decarbonisation
(March 01)
The UK has welcomed the world’s first dual-fuelled ammonia-powered vessel, the Fortescue Green Pioneer, marking a significant step towards maritime decarbonisation. The Singapore-flagged vessel is powered by a four-stroke engine that can run on ammonia and diesel. This zero-carbon fuel is expected to substantially reduce greenhouse gas emissions in shipping. The UK Government fully supports this initiative, which aligns with its objectives for sustainable maritime transportation.
California: Governor Newsom proclaims state of emergency to fast-track critical wildfire prevention projects statewide
(March 01)
California Governor Gavin Newsom proclaimed a state of emergency to expedite critical wildfire prevention projects in California. This action aims to protect communities from increasing wildfire risks by
Suspending environmental regulations, including CEQA and the Coastal Act, as needed to expedite fuels reduction projects. Projects include vegetation and tree removal, adding fuel breaks, prescribed fire, and more.
Allowing non-state entities to conduct approved fuels reduction work with expedited and streamlined approval.
Directing state agencies to submit recommendations for increasing the pace and scale of prescribed fire.
Increasing the California Vegetation Treatment Program’s (CalVTP) efficiency and utilization, in order to continue promoting rapid environmental review for large wildfire risk reduction treatments.
The state is investing $2.5 billion to implement the Governor’s Wildfire and Forest Resilience Action Plan, with $200 million allocated annually through 2028-29 for forest and fire prevention programs. The proclamation allows non-state entities to conduct approved fuels reduction work and directs state agencies to enhance prescribed fire strategies.
Singapore signs Implementation Agreement with Bhutan to cooperate on carbon credits under Article 6 of the Paris Agreement
(February 28)
Singapore and Bhutan signed an Implementation Agreement on carbon credits cooperation under Article 6 of the Paris Agreement. The agreement was signed by Singapore’s Minister for Sustainability and the Environment, Grace Fu, and Bhutan’s Minister of Energy and Natural Resources, Gem Tshering, during the latter’s visit to Singapore. This is Singapore’s first Implementation Agreement with a carbon-negative country, it has previously signed agreements with Papau New Guinea and Ghana.
The adjusted carbon credits authorised under this Implementation Agreement may be used for various purposes, such as: - To offset up to 5% of a company’s taxable emissions under Singapore’s ICC framework from 1 Jan 2024, subject to eligibility. - To comply with binding mandates such as Nationally Determined Contributions (NDCs) and other international mitigation purposes e.g., the requirements under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Singapore has committed to channelling the value equivalent to 5% share of proceeds from authorised carbon credits towards climate adaptation measures, such as heat resilience measures and climate-resilient agriculture, in Bhutan.
As a contribution towards a net reduction of global emissions, Singapore has committed to having 2% of the correspondingly adjusted carbon credits authorised under this Implementation Agreement cancelled at first issuance. These carbon credits that are cancelled cannot be sold, traded, or counted towards any country’s emission targets.
China's installed power generation capacity to exceed 3.6 billion kilowatts in 2025
(February 27)
China aims to increase its total installed power generation capacity to over 3.6 billion kilowatts by 2025, as announced by the National Energy Administration. The country plans to maintain crude oil output at over 200 million tonnes and add over 200 million kilowatts of new energy power generation capacity. By 2025, China's total electricity generation is expected to reach 10.6 trillion kilowatt-hours. The proportion of non-fossil energy power generation capacity is expected to increase to around 60 percent, with non-fossil energy making up around 20 percent of total energy consumption. Zhang Xing, the administration's spokesperson, emphasized the need for strengthening research and development in key energy technology equipment and advancing energy system reforms.
China launches powerful methanol, diesel-powered ship engine
(February 27)
China unveiled a high-performance methanol-diesel dual-fuel ship engine in Shanghai, developed by subsidiaries of China State Shipbuilding Corporation Limited (CSSC). The engine, with a maximum power output of 64,500 kilowatts, uses methanol for 95% of its power, reducing carbon dioxide emissions by over 7.5% compared to traditional diesel engines. It features advanced digital control and a dual-fuel injection system, enhancing energy efficiency and reducing maintenance costs. The engine will be installed on a 16,000-TEU container ship, marking its operational debut.
UK Climate Change Committee presents 7th Carbon Budget
(February 26)
The UK Climate Change Committee (CCC) has presented a new pathway to decarbonise the UK by 2050, aiming for an 87% reduction in emissions by 2040 compared to 1990 levels. The plan emphasizes electrification, which accounts for 60% of emissions reductions, and highlights the need for investment in clean energy, expected to reach $2 trillion globally by 2024. The CCC projects that by 2050, household energy bills could be ￡700 cheaper annually. The report also stresses the importance of private sector investment, estimating that it will cover 65-90% of the financing requirement from 2025 to 2050. The CCC's recommendations include making electricity cheaper, removing barriers to low-carbon technology adoption, and supporting households and businesses in the transition to a low-carbon economy.
Aemetis Biogas Receives Proceeds from Sale of $7.7 million of Investment Tax Credits
(February 26)
US-based Aemetis a renewable natural gas and renewable fuels company, announced the receipt of $6 million in cash from the sale of $7.7 million in Inflation Reduction Act investment tax credits. These credits were generated by the construction of dairy biogas digesters by Aemetis Biogas, a subsidiary of the company. The credits were sold to a corporate purchaser as part of a multi-closing purchase arrangement. Aemetis is operating twelve dairy digesters and a biogas pipeline to produce renewable natural gas, expecting to produce 550,000 MMBtu of RNG per year. The project aims to reduce greenhouse gas emissions equivalent to 6.8 million metric tons of carbon dioxide over ten years.
Metacon increases its involvement in Pherousa and CO2-free, ammonia-powered deep-sea shipping
(January 29)
Norway-based Metacon AB (publ) increased its shareholding in Pherousa AS to 35% and signed an exclusive license agreement for ammonia cracking technology for vessels. Metacon SA joined the EU-funded Safecraft project, receiving KEUR 265 over 36 months. Pherousa acquired Pherousa Green Shipping AS, planning to construct six ammonia-powered cargo vessels. The collaboration aims to achieve Approval in Principle for ammonia-based ship technology.
Key outcomes of the second EU-India Trade and Technology Council
(February 28)
The European Union and India held their second ministerial meeting of the Trade and Technology Council (TTC) in New Delhi. The meeting focused on strategic technologies, digital governance, and green and clean energy technologies. Both sides committed to working on
Moldova’s National Energy and Climate Plan, approved by the Government
(February 26)
Moldova approved its National Energy and Climate Plan (NECP) 2025-2030, aiming to achieve decarbonization goals. The plan, supported by the EU and implemented by UNDP Moldova, sets national targets for renewable energy, energy efficiency, and GHG emissions. By 2030, Moldova commits to 30% renewable energy in final consumption and reducing GHG emissions by 68.5% compared to 1990 levels. The NECP also includes actions for energy security, such as diversifying import routes and enhancing interconnectivity with Romania.
Bloomberg and General Index expand carbon market data access
(February 26)
Bloomberg and General Index have expanded their strategic collaboration to provide Bloomberg Terminal users with access to over 200 voluntary carbon price indexes. This expansion includes transparent carbon credit 'price baskets' and detailed assessments of voluntary carbon markets (VCM). The collaboration aims to offer market participants pricing oversight and transparency in the VCM sector. Emilie Gallagher from Bloomberg highlighted the importance of price transparency in evolving markets like voluntary carbon, while Diane Charnock from General Index emphasized the critical nature of reliable benchmarks in the VCM markets.
Italy to compensate municipalities for hosting nuclear power plants
(February 26)
Italy has approved the allocation of territorial compensation measures for sites hosting nuclear power plants and nuclear fuel cycle facilities. Approximately 15 million euros will be allocated to municipalities and provinces for interventions in territorial defense, remediation of polluted sites, waste management, biodiversity protection, and protection from air and noise pollution. The announcement was made by Vannia Gava, the Deputy Minister of Environment and Energy Security, following the CIPESS meeting.
Thailand to Transform Rice Sector with 118 Million Euros Climate-Smart Rice Farming initiative – Thai-German Cooperation
(February 26)
Thailand has launched the 'Thai Rice: Strengthening Climate-Smart Rice Farming Project' with a funding of 118 million Euros. The initiative aims to support 253,400 Thai rice farmers in adopting climate-smart farming practices and reduce 2.44 million tonnes of CO? equivalent by 2028. The project is funded by the Green Climate Fund, the German Federal Ministry for Economic Cooperation and Development, and private sector partners including Ebro Foods, MARS Food, Olam Agri, and PepsiCo. It involves multiple agencies and aims to transition smallholder rice farming in Thailand to climate-smart models, enhancing productivity and lowering emissions.
India & Argentina sign MoU for Lithium
(February 19)
India has signed a Memorandum of Understanding (MoU) with the Government of Catamarca, Argentina, to enhance its access to lithium, a crucial mineral for electric vehicles and renewable energy. The Union Minister for Coal & Mines, Shri G Kishan Reddy, met with H.E. Raúl Alejandro Jalil, Governor of Catamarca, to discuss lithium exploration, mining opportunities, and investment prospects. The discussions also included ongoing projects of KABIL and Greenko, as well as future lithium ventures and offtake arrangements.
Air Liquide announces major investments to support European decarbonization in collaboration with TotalEnergies
(February 18)
France-based 液空 announced two large-scale electrolyzer projects to produce renewable and low-carbon hydrogen in Europe, in collaboration with TotalEnergies . The first project, ELYgator, is a 200MW electrolyzer in Maasvlakte, Rotterdam, expected to produce up to 23,000 tons of hydrogen annually. The second project involves a 250MW electrolyzer in Zeeland, Netherlands, through a joint venture with TotalEnergies. These projects represent a combined investment of over 1 billion euros and aim to avoid up to 500,000 tonnes of CO2-equivalent emissions per year. Air Liquide will leverage renewable power from offshore wind farms and has received support from the EU’s Innovation Fund and the Dutch IPCEI program.
NANO Nuclear Energy to be Included in MSCI USA Index as of February 28, 2025 - NANO Nuclear Energy
(February 13)
US-based NANO Nuclear Energy Inc. (NASDAQ: NNE) announced its inclusion in the MSCI USA Index, effective February 28, 2025. This milestone follows a successful 2024, where the company was the top-performing initial public offering in the U.S. The inclusion in the index is expected to enhance the company's visibility and accessibility among capital markets and institutional investors worldwide. NANO Nuclear Energy is recognized for its focus on developing advanced nuclear energy technologies.
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