Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
General Environmental/Regulatory
Norway plans to adopt the EU's upcoming carbon tax scheme, the Carbon Border Adjustment Mechanism (CBAM), though the exact timeline remains uncertain. While Norway is not legally required to implement CBAM, there has been significant pressure from various sectors to do so to avoid potential tariffs on Norwegian exports to the EU.
Electric Vehicles
LG Energy Solution has signed a deal to supply 50.5 GWh of EV batteries to a Mercedes-Benz affiliate in North America and other regions from 2028 to 2038. This came as the company projected a 40% drop in third-quarter profit, still exceeding market expectations, supported by strong U.S. battery sales and tax credits from the Inflation Reduction Act.
Go Ahead, a British transport company, will invest £500 million ($654 million) over the next three years to decarbonize its bus fleet. The funding will enable the production of 1,200 zero-emission buses.
Related Stock List(s): Electric Vehicle Stocks
Hydrogen
Brazil has announced a $1 billion investment in hydrogen hubs to decarbonize the industrial sector, in partnership with the Climate Investment Funds (CIF). The initiative will provide low-cost financing for hydrogen projects, with a focus on integrating production, storage, and transportation.
The construction of the Denmark-Germany hydrogen pipeline, originally planned for completion by 2028, has been delayed to 2031. Danish state-owned transmission operator Energinet cited varying project maturity levels, user pledge changes, and increased planning and environmental complexities as reasons for the delay. The pipeline is designed to transport green hydrogen from Denmark’s production clusters to Germany, feeding into the European Hydrogen Backbone.
CWP Global has launched a 600 MW hydrogen project in Angola, using surplus hydroelectric power to produce hydrogen and ammonia for export, particularly to Europe.
Related Stock List(s): Hydrogen Stocks
Liquified Natural Gas (LNG)
Vopak and Transnet Pipelines have been appointed by South Africa’s Transnet National Ports Authority (TNPA) to develop and operate a LNG import terminal at the Port of Richards Bay. The project will be operational by 2027. The terminal in the South Dunes Precinct will initially handle 1 million tons of LNG annually, scaling up to 5 million tons by 2036.
Bangladesh has canceled its agreement with Summit Group to build a third floating LNG terminal, which was initially expected to be operational by the second quarter of 2026. The decision follows a government committee's recommendation to void the contract, signed in March. The cancellation also ends a 15-year LNG supply agreement linked to the terminal's construction. Summit, which operates one of Bangladesh's two existing LNG terminals, plans to appeal the decision.
Chevron is negotiating the sale of its east Texas natural gas assets to Tokyo Gas for up to $1 billion. The deal involves Chevron's portfolio in the Haynesville shale, which includes 72,000 acres of mostly undeveloped land. For Chevron, this sale is part of its broader strategy to divest up to $15 billion in non-core assets while focusing on higher-yielding production areas.
BP has scrapped its goal to reduce oil and gas production by 25% by 2030, focusing instead on boosting profitability under new CEO Murray Auchincloss. This shift marks a departure from previous ambitious targets aimed at transitioning to greener energy, as BP seeks new investments in fossil fuels. Despite continuing investments in renewable energy, this strategic pivot has drawn criticism from environmental groups while the company reaffirms its commitment to achieving net-zero emissions by 2050.
Related Stock List(s): LNG Stocks
Nuclear Energy
Google is exploring nuclear power as a potential energy source for its data centers, working with utilities in the U.S. and other countries. Other tech giants, such as Microsoft and Amazon, are already turning to nuclear power to meet the increasing energy demands of their data centers while reducing emissions.
Related Stock List(s): Nuclear Energy & Uranium Stocks
Renewable Energy
Three utilities in Wisconsin are seeking regulatory approval to acquire two solar and battery energy storage hybrid projects from Invenergy, as part of a broader $1.92 billion investment. The projects are part of a five-project portfolio that includes 500 MW of solar, 179 MW of wind, and 100 MW of battery storage, located across several counties in Wisconsin.
BrightNight, a renewable power company, has secured a $440 million strategic equity investment from Goldman Sachs Asset Management's alternative investments platform. This funding, initially announced earlier this year, aims to support BrightNight's independent power producer (IPP) business model and facilitate the expansion of its utility-scale renewable energy portfolio across the U.S.
Water
The International Finance Corporation (IFC) has partnered with Axis Bank to launch a $500 million loan initiative focused on sustainable projects in India. The funding aims to enhance financing for water conservation and marine ecosystem restoration.
Related Stock List(s): Water Stocks