Green Markets - December 23, 2024
News in environmental markets.
Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
General Environmental/Regulatory
Australia and South Korea have launched a Green Economy Partnership to enhance climate and energy cooperation, aiming to achieve net-zero emissions by 2050. The partnership focuses on renewable hydrogen, clean energy technologies, green metals, and carbon sequestration.
Voluntary Carbon Markets (VCMs)
According to data aggregated by Carbon Pulse, despite continued negative sentiment in the VCMs, these markets are on track to record another record for carbon credit retirements…
Related Stock List(s): Carbon Credit Stocks
Hydrogen
The Suez Canal Economic Zone (SCZONE) has attracted $64 billion in green hydrogen investments through 12 agreements, aiming to produce 18 million tons of hydrogen annually. Spanning 455 square kilometers with six ports and four industrial areas, it serves as a strategic global trade hub.
Related Stock List(s): Hydrogen Stocks
Liquified Natural Gas (LNG)
Qatar has warned it may halt LNG exports to Europe if the EU enforces strict penalties under its new corporate sustainability directive, which could impose fines of 5% of annual global revenues on non-compliant companies. Qatar’s Energy Minister Saad al-Kaabi emphasized that such financial losses would be unacceptable for QatarEnergy, which is integral to the state’s economy.
Related Stock List(s): LNG Stocks
Nuclear Energy
Russia is expanding its global influence in nuclear energy, constructing over 10 reactor units in countries like Turkey, Bangladesh, and Iran, while Rosatom’s reach spans 54 nations. Despite Western efforts to curb Russian dominance through sanctions and alternative suppliers, Russia remains involved in over a third of global reactor projects.
Related Stock List(s): Nuclear Energy & Uranium Stocks
Renewable Energy
Equinor, the Norwegian oil and gas giant, has acquired a 10% stake in Danish renewable energy company Ørsted following a $2.3 billion share purchase. This includes an additional 0.2% secured after regulatory approval, complementing the 9.8% stake it had amassed by October.
Meridian Energy and Nova Energy have formed a 50/50 joint venture to develop the 400-MW Te Rahui solar farm on New Zealand's North Island. The project, estimated to cost NZD$660 million (USD$372 million), will be built in two 200-MW stages. Construction is expected to begin after a final investment decision in early 2025.