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The “Global Energy Regulation Roundup” is dedicated to capturing and understanding emerging climate, energy, and reporting measures. Currently, international governments are increasingly establishing stricter policies on emissions reporting, trade, and energy. The purpose of this monthly blog is to spotlight upcoming regulations and inform key stakeholders about their impact on various industries.
United States of America
The U.S. Department of Energy has launched a pilot project aimed at measuring the greenhouse gas (GHG) intensity of select industrial products as part of broader efforts to promote clean manufacturing. Rising global demand for low-emission materials, along with national policies like the Buy Clean initiative and international climate agreements, is driving the need for a fair, coordinated system to track GHG emissions in industrial production. This project, supported by the White House Task Force on Climate, Trade, and Industrial Competitiveness, aims to use data to develop precise GHG intensity metrics, contributing to the Biden-Harris Administration's climate objectives while enhancing the competitiveness of clean U.S. manufacturers. Backed by federal and private investments totaling over $20 billion, this initiative aims to reduce industrial emissions and create tens of thousands of new jobs. An upcoming webinar will provide stakeholders with more details.
European Union
Italy's industry and energy ministers are urging the European Union to reconsider its 2035 ban on new petrol and diesel car sales, calling for an earlier review of the regulation in 2024 rather than 2026. Italy's right-wing government advocates for more flexibility in meeting decarbonization goals, favoring a gradual transition away from combustion engines rather than a strict ban. The European Commission has launched infringement procedures against 26 member states for not integrating the updated Renewable Energy Directive (RED) into their national legislation. The directive, effective since November 2023, requires simplified permitting and accelerated processes for renewable energy projects, with a deadline for compliance by July 2024. Denmark is the only country to fully comply with these requirements, while the other states have two months to respond and complete the transposition, after which the Commission may take further action.
Asia
At the beginning of the month, Beijing hosted Africa’s leaders to discuss Chinas significant financial commitment to renewable energy in Africa. Following the 2021 declaration of “positioned climate cooperation,” this year's forum was the first meeting following a significant pause in policy bank loans for energy projects. In 2023, Chinese financing for renewable energy projects in Africa rebounded, following a lull since 2021, driven by climate cooperation highlighted during the Forum on China-Africa Cooperation (FOCAC). A shift away from fossil fuel investments aligns with China's 2021 pledge to halt coal funding and promote "small and beautiful" low-carbon projects. Chinese policy banks have resumed energy loans, including solar and hydropower projects, reflecting a broader adjustment toward renewable energy investments. Despite challenges, such as adapting to African market regulations and investment risks, Chinese state-owned enterprises and private companies are increasingly involved in Africa's renewable energy sector. China's support will be crucial for Africa’s clean energy expansion, with plans to install over 224GW by 2030.
As COP29 approaches, a major focus will be securing climate finance to help vulnerable nations reduce emissions and adapt to climate-driven events. Coastal flooding, saltwater contamination, and displacement are already affecting millions, with the World Bank predicting that climate change could displace 49 million people in the India-Pacific region by 2050. Climate scientists are urging immediate action to protect Asia-Pacific communities from rising sea levels, which are increasing faster in the region than the global average. The World Meteorological Organization (WMO) reports that since 1993, sea levels in parts of the Pacific have risen 10-15 cm, driven by warming seas and melting glaciers.