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Study finds limiting warming to 2 °C would require at least a $200/t carbon tax globally

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All regions of the world do not—and will not—experience the effects of CO 2 emissions in the same way. These heterogeneous effects mean that different countries will have differing incentives to abide by the Paris Agreement, which aims to limit global warming below 2 °C relative to pre-Industrial levels.

Tax 397
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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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Global energy-related carbon dioxide emissions rose by 6% in 2021 to 36.3 The rebound of global CO 2 emissions above pre-pandemic levels has largely been driven by China, where they increased by 750 million tonnes between 2019 and 2021. In 2021 alone, China’s CO 2 emissions rose above 11.9 billion tonnes.

Emissions 370
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The Metals Company and Low Carbon Royalties form strategic partnership

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Deepsea mining company TMC The Metals Company ( earlier post ) announced a strategic partnership with Low Carbon Royalties Inc. to finance the development and production of low-carbon fuels and energy transition metals. NORI and Low Carbon Royalties are a great fit.

Carbon 352
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BNEF report finds hydrogen promising decarbonization pathway, but carbon prices and emissions policies required

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The falling cost of making hydrogen from wind and solar power offers a promising route to cutting emissions in some of the most fossil-fuel-dependent sectors of the economy, such as steel, heavy-duty vehicles, shipping and cement, according to a new report from BloombergNEF (BNEF). Abatement cost with hydrogen at $1/kg (7.4/MMBtu).

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Stena Bulk launches project to demonstrate end-to-end shipboard carbon capture at scale

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Leading tanker shipping company Stena Bulk is launching a two-year, three-phase project aimed at demonstrating shipboard carbon capture, together with the Global Center for Maritime Decarbonization (GCMD) and the Oil and Gas Climate Initiative (OGCI).

Carbon 195
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SafeAI, Siemens, Obayashi collaborate to bring retrofitted autonomous, zero-emission heavy vehicles to off-road industries

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SafeAI, a global leader in autonomous heavy equipment, announced a collaboration with Siemens today to create an autonomous, zero emission heavy vehicle fleet for Obayashi Corporation. In May 2022, the companies began retrofitting the first 45 ton vehicle, which is expected to be ready by the end of 2022.

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Steelmaker ArcelorMittal Europe targets 30% cut in carbon emissions by 30% by 2030

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ArcelorMittal Europe announced a roadmap to reduce CO 2 emissions by 30% by 2030. The target for ArcelorMittal Europe – Flat Products is in line with an ambition announced in May to be carbon neutral in Europe by 2050. Our roadmap and the emissions reduction target of 30% by 2030 for Europe is a big step in the right direction.

Carbon 195