Green Markets - September 6, 2024

Sep 06, 2024

Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.

The EPA has postponed the reporting deadline for past PFAS “forever chemicals” used in consumer products by eight months due to software issues. Originally set to begin in November 2024 and end in May 2025, the new reporting period will start in July 2025, with the deadline pushed to January 2026. This delay provides additional time for companies to compile extensive historical data required under the new rule, which mandates reporting on PFAS presence in products from 2011 to 2022.

First Quantum Minerals is set to invest $3.5 billion in constructing the Taca Taca copper project in Salta, Argentina. The project is a copper-gold-molybdenum deposit and is expected to commence construction in 2025.

Energir, a major gas distributor in Quebec, has secured an additional $425 million from existing investors CDPQ and Fonds de solidarité FTQ to support its decarbonization strategy. The investment will be used for various initiatives, including developing renewable energy projects and renewable natural gas (RNG) production plants.

Gold Standard (a carbon standard) is expanding its carbon dioxide removal (CDR) methodologies to scale up efforts in reducing atmospheric CO2 as part of the global target to limit warming to 1.5 degrees. They are focusing on both engineered and nature-based solutions, including revisions to their Carbon Sequestration through Accelerated Carbonation of Concrete Aggregate and a new tool for assessing risks in geological carbon storage. Updates also include expanding eligibility for biomass fermentation with carbon capture and introducing methodologies for sustainable management of mangroves and wetlands.
Carbon Pulse estimates that data center growth will lead to 2.5 billion tons of CO2 emissions. This will lead to increased usage of various offsetting methods, especially carbon credits.

Related Stock List(s): Carbon Credit Stocks

OilPrice.com: Green hydrogen, once hyped as a key solution for decarbonizing hard-to-abate industries, faces significant challenges, including high production costs, complex transportation requirements, and a lack of binding purchase agreements. These issues have slowed the market's development, as many projects struggle to secure financing without guaranteed buyers. Despite increasing investments from governments and companies, green hydrogen could take over a decade to become competitive and widely adopted.

Related Stock List(s): Hydrogen Stocks

The Barakah nuclear power plant in the United Arab Emirates, now fully operational with its four reactors, has become the first nuclear facility in the Arab world, providing 25% of the country’s electricity. Built for $24.4 billion, Barakah plays a key role in the UAE’s strategy to diversify its energy mix beyond oil and gas, producing 40 terawatt-hours of electricity annually.

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