Market Updates
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© Copyright – Welhunt Materials Enterprise Co. Ltd.
Disclaimer/Terms conditions
Market Updates
© Copyright – Welhunt Materials Enterprise Co. Ltd. | Disclaimer/Terms conditions
© Copyright – Welhunt Materials Enterprise Co. Ltd.
Disclaimer/Terms conditions
Amazon, Google and Industry Leaders Form GIGA to Accelerate Europe’s Grid Overhaul
The newly launched Green Industrial Grids Association (GIGA) brings together more than a dozen companies with heavy electricity demand and direct exposure to grid constraints. Founding members include Amazon, Google, Microsoft and Meta, alongside industrial and energy firms such as Hitachi Energy, Siemens Energy and Linde. Several electric‑vehicle charging operators are also taking part.
As Europe confronts a €1.2 trillion grid investment gap by 2040 — with electrification, data demand and clean technologies accelerating faster than infrastructure can keep up — faster connections, greater mobilisation of private capital and timely regulatory reform are emerging as decisive issues for Europe’s competitiveness in the energy transition.
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#EnergyTransition #PowerGrids #GridInfrastructure #Electrification #CleanEnergy #Europe #Amazon #Google #Microsoft #Meta
Singapore to trial its green jet fuel procurement with 9 firms including Temasek, Google and SIA
The Civil Aviation Authority of Singapore (CAAS) and Singapore Sustainable Aviation Fuel Company (SAFCo) signed a memorandum of understanding with the companies involved at the Changi Aviation Summit. The companies are Boston Consulting Group, Changi Airport Group, DBS, GenZero, Google, OCBC, Temasek, Singapore Airlines and Scoot.
The trial will test Singapore’s national sustainable aviation fuel procurement system as a whole. In response to queries for more details—including the volume of fuel to be procured and the value of the trial—CAAS said these matters are still under negotiation, adding that the test will begin “soon” with an open tender to be launched for the first batch of fuel.
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#Singapore #SAF #SustainableAviationFuel #AviationDecarbonisation #EnergyTransition
Nepal Signs Landmark Carbon Credit Deal with LEAF Coalition: A Historic Achievement in Climate Finance
Nepal has become the first Asian country to sign a landmark forest carbon deal with the LEAF Coalition, unlocking up to 55 million USD in results-based climate finance for jurisdictional REDD+. Under the agreement, Nepal will reduce deforestation and improve forest management, generating around 8 million high‑integrity forest carbon credits, some with corresponding adjustments so they can be used in compliance schemes such as Singapore’s carbon tax and CORSIA. The deal rewards decades of community-based forest stewardship that has raised forest cover to over 46% of the country, and is expected to channel benefits to Indigenous Peoples and local communities while positioning Nepal as a regional leader in sustainable climate finance.
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#Nepal #LEAFCoalition #REDDPlus #ForestCarbon #CarbonCredits #ClimateFinance
Project Developers Warn Gold Standard Against Retroactive Climate Rules
Project developers, via the Project Developer Forum (representing 65+ global firms), warned Gold Standard’s Board against retroactively applying Paris Agreement alignment rules to already-registered or late-stage projects, citing risks of verification backlogs, investor uncertainty, and stalled mitigation. Gold Standard’s October framework mandates 2026+ vintage credits comply regardless of registration date, potentially requiring methodology revisions and lacking transition paths for popular approaches like solar lighting. Gold Standard clarified no past credits will be altered, applying rules only to future vintages to prevent greenwashing and align with NDCs, though developers fear cost hikes and viability issues for community projects.
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#GoldStandard #CDR #CarbonMarkets #ClimateRules #ProjectDevelopers #ParisAgreement
ICC, Carbon Measures Assemble Global Experts to Shape Principles for Ledger-Based Carbon Accounting
The International Chamber of Commerce (ICC) and Carbon Measures have appointed the first ten global experts to a Technical Expert Panel on Carbon Accounting, tasked with developing principles for a verifiable ledger-based system to track GHG emissions at the product level across value chains. Panelists include leaders from Microsoft, Santander, Tata Steel, Rio Tinto alumni, and Stanford, serving independently to define standards for corporate disclosure, market competition, and policy on low-carbon products. The framework aims to enable accurate differentiation of emissions data, influencing Scope 3 reporting, green trade, and decarbonization incentives; applications for additional experts remain open until February 15, 2026.
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#ICC #CarbonAccounting #GHGTracking #LedgerBasedAccounting #CarbonStandards #ValueChainEmission #ESGData
China Issues Climate Disclosure Standard Aligned With ISSB, Laying Groundwork For Mandatory Corporate Reporting
China has issued its first national corporate climate disclosure standard, closely aligned with the ISSB’s IFRS S2, signaling that climate reporting will become a core part of its financial and regulatory system. Released as “Corporate Sustainable Disclosure Standard No. 1 Climate (Trial)” by the Ministry of Finance and multiple regulators, it starts as voluntary but is designed to expand from listed to non-listed firms and from large companies to SMEs, ultimately moving toward mandatory disclosure. The framework mirrors ISSB pillars (governance, strategy, risk/opportunity management, metrics and targets) but goes further by requiring disclosure of companies’ impacts on climate, not just climate-related financial risks, with sector-specific guidance already being drafted for high-emitting industries such as power, steel, cement, coal, oil and autos.
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#China #ClimateDisclosure #ISSB #SustainabilityReporting #CorporateDisclosure #ESGPolicy #ClimateGovernance
Carbon Market Coalition Welcomes 18 Member Countries at COP30
Brazil has launched an Open Coalition on Compliance Carbon Markets at COP30, now backed by 18 countries including Brazil, China, the EU, UK, Canada, Chile, Germany, Mexico, Singapore and Norway. The coalition aims to create shared standards and a common carbon pricing framework by linking national compliance markets, harmonizing MRV and accounting rules, and ensuring environmental integrity and just transition. Officials emphasize that regulated carbon markets are a key tool to phase down fossil fuels in an orderly, equitable way and to increase liquidity, predictability and transparency in carbon trading.
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#COP30 #CarbonMarket #Coalition #Compliance #Article6 #MRV #JustTransition #InternationalCooperation
Ørsted Becomes First Energy Major to Complete Full Green Transition
Danish utility Ørsted has become the first major energy company to complete a full green transition, reducing its Scope 1-2 greenhouse gas emissions by over 98% from its 2006 baseline and achieving 99% renewable energy share. The company closed its last coal-fired plant in 2024 and has built over 18 GW of renewable capacity, mainly offshore wind. Ørsted’s science-based targets are validated by SBTi, with a net-zero value chain goal set for 2040. The company now focuses on cutting Scope 3 emissions in its supply chain and collaborating for low-carbon materials and shipping solutions. This transition sets a benchmark for the global energy sector ahead of COP30.
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#Ørsted #Denmark #GreenTransition #RenewableEnergy #NetZero #SBTi #OffshoreWind
SBTi’s latest draft standard proposes flexible, scope-specific target setting
The Science Based Targets initiative (SBTi) released a draft update to its Corporate Net-Zero Standard on Nov. 6, introducing more flexible scope-specific target-setting methods. The update includes three approaches for scope 1, clarity on scope 2 and low-carbon electricity purchasing, and a developed scope 3 framework. It also offers companies options for progressive responsibility of ongoing emissions and a cyclical validation process. Large companies in high-income countries face stricter requirements, including addressing residual emissions with carbon removals by 2035. The final standard is expected in 2026, effective from 2028.
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#SBTi #NetZero #TargetSetting #CorporateESG #Scope1 #Scope2 #Scope3 #ClimateStandard
Singapore Names Three Carbon-Rating Firms to Enhance Integrity of International Carbon Credits
Singapore’s National Environment Agency (NEA) has appointed three firms—BeZero Carbon Ltd, Calyx Global, Inc, and Sylvera Ltd—to provide independent assessments of carbon-credit methodologies and projects under its International Carbon Credit (ICC) Framework. This supports the ICC Framework, allowing companies to offset up to 5% of taxable emissions using eligible credits from 2024. The ratings panel will enhance governance and integrity in cross-border carbon credits, reinforcing investor confidence and Singapore’s leadership in Article 6 markets. This initiative highlights Singapore’s commitment to rigorous oversight and global carbon market governance.
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#Singapore #CarbonCredits #ICC #Article6 #CarbonRating #Governance #Integrity