Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
General Environmental/Regulatory
The U.S. Environmental Protection Agency (EPA) has granted nearly $3 billion through the Clean Ports Program to 55 zero-emission projects at ports across 27 states and territories. These grants, funded by the Inflation Reduction Act, support installing zero-emission freight and ferry technologies along with vital infrastructure at U.S. ports. This funding aims to cut over 3 million metric tons of CO₂ and significantly reduce nitrogen oxide and particulate emissions from diesel-powered port equipment such as trucks, locomotives, and marine vessels.
Battery Metals
China's CMOC Group Limited, the world’s leading global cobalt producer, surpassed its 2024 cobalt production target months early, reaching 84,722 tons in nine months due to rapid expansion in the Democratic Republic of Congo. This surge has contributed to a global cobalt surplus, driving prices to an eight-year low. CMOC also saw a 78% increase in copper output.
Related Stock List(s): Commodity Trust Stocks, Commodity Royalty Stocks
Electric Vehicles
Toyota and Nippon Telegraph and Telephone (NTT) are planning to invest approximately $3.26 billion (500 billion yen) in research and development to create AI software aimed at enhancing self-driving technology. The companies are targeting for a working system by 2028, which they intend to offer to other automakers.
Related Stock List(s): Electric Vehicle Stocks
Hydrogen
BP has announced the cessation of 18 early-stage hydrogen projects as it shifts its focus toward higher-return initiatives. CEO Murray Auchincloss recently informed investors that BP has either "stopped or paused" 24 potential projects overall, with the majority being in hydrogen development.
TotalEnergies is planning a renewable energy project in Morocco to produce green hydrogen and ammonia for export to Europe. The Chbika project will include 1 GW of onshore wind and solar farms, aiming to generate 200,000 metric tons of ammonia annually. The project will be developed in partnership with TE H2, Eren Groupe, and Copenhagen Infrastructure Partners.
Related Stock List(s): Hydrogen Stocks
Liquified Natural Gas (LNG)
Billionaire Lim Kok Thay’s Genting Group is increasing its investment in a floating liquefied natural gas (FLNG) project in Indonesia by 33%, raising the total to $1.3 billion. The additional $315 million will connect Genting’s FLNG facility in West Papua to a pipeline and onshore gas processing plant. The facility is expected to produce 1.2 million metric tonnes of LNG annually and is set for completion in 25 months.
Related Stock List(s): LNG Stocks
Nuclear Energy
Czech energy company CEZ has signed a strategic partnership with Rolls-Royce SMR to develop and build small modular reactors (SMRs) in the Czech Republic, with CEZ acquiring a 20% stake in Rolls-Royce SMR. The first SMR is planned for the Temelin nuclear plant by the early 2030s, aiming to add up to 3 GW of energy capacity. Each SMR from Rolls-Royce will produce 470 MW for 60 years.
The Onagawa No. 2 reactor in Japan has restarted operations, marking a significant milestone in the country's efforts to revive its nuclear energy sector following the 2011 Fukushima disaster. Tohoku Electric Power Co. brought the reactor online after extensive maintenance and stringent safety protocols, which had kept it offline for over a decade. This reactor, located near the epicenter of the 2011 earthquake, is the first to restart in eastern Japan.
Related Stock List(s): Nuclear Energy & Uranium Stocks