Green ammonia offers a solution to one of the hardest tasks in decarbonization: replacing diesel in large ships. Yara is stepping forward with a commitment to launch the world’s first clean ammonia-powered container ship, ready for service in 2026. Shipping is responsible for between 1.7 and 3% of global CO2 emissions.
The legislation creates a registry for carbon credit projects within the National Directorate of Climate Change to serve as the official record of every carbon credit program active in Paraguay and ensure that land isn’t being registered more than once — a common problem in the global carbon credit market.
The European Union has launched the initial phase of the world’s first system to impose CO2 emissions tariffs on carbon-intensive imports like iron and steel, as it tries to stop more polluting foreign products from undermining its green transition.
Faced with an unending stream of unrecyclable waste from wealthy nations, Indonesia has tightened its regulations and has begun to make progress in stemming the plastics flow.
At the core of the broader EU package is a so-called “Carbon Border Adjustment Mechanism” (CBAM), which seeks to incentivize non-EU nations to increase their climate ambitions.
Under the law, which is being hailed as the most ambitious maritime fuel legislation in the world, ship emissions will be reduced by 2% as of 2025 and 80% as of 2050.
The Green Deal Industrial Plan will simplify regulation to help get proposed green projects up and running faster, accelerating access to investment, developing programs to train skilled workers in green industries, and more.
Starting in 2024, shipping companies will have to buy E.U. carbon permits to cover 40% of their emissions, including methane and nitrogen oxides, rising to 70% in 2025 and 100% in 2026.
The levy aims to prevent European industry from being undercut by cheaper goods made in countries with weaker environmental rules and incentivize trading partners to decarbonize.
The law will require companies to produce a due diligence statement showing that their supply chains are not contributing to the destruction of forests before they sell goods into the EU – or they could face hefty fines.
