Author: omc_admin

Accelerated depreciation and targeted tax credits will reduce upfront costs and enhance cash flow for companies investing in clean tech and decarbonization. Aligned with the Clean Industrial State Aid Framework (CISAF), the measures allow for compatibility with EU funds and state aid without complex grant calculations. Supports the EU’s 2050 net-zero goal by creating a fair, investable industrial ecosystem focused exclusively on clean technologies. The European Commission has released a new Recommendation on Tax Incentives to support the Clean Industrial Deal (CID), a key pillar of the EU’s climate-neutral strategy. This initiative outlines a robust framework for Member States to…

The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced today the publication of new exposure drafts, focused on proposed amendments to its sector-focused SASB sustainability reporting standards. The Sustainability Accounting Standards Board (SASB) was founded in 2011 with a mission to establish industry-specific ESG disclosure standards for companies, designed to enable investors to assess the materiality of reported sustainability information, and to compare companies on these metrics on a global basis. SASB was consolidated into the IFRS Foundation’s International Sustainability Standards Board (ISSB) in 2022. The SASB standards also form a source of industry-based guidance for the ISSB’s sustainability and climate reporting standards…

The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced today the publication of new exposure drafts, focused on proposed amendments to its sector-focused SASB sustainability reporting standards. The Sustainability Accounting Standards Board (SASB) was founded in 2011 with a mission to establish industry-specific ESG disclosure standards for companies, designed to enable investors to assess the materiality of reported sustainability information, and to compare companies on these metrics on a global basis. SASB was consolidated into the IFRS Foundation’s International Sustainability Standards Board (ISSB) in 2022. The SASB standards also form a source of industry-based guidance for the ISSB’s sustainability and climate reporting standards…

Abu Dhabi’s national oil company, ADNOC, has restored most of the Murban crude supply to its partners in the onshore fields pumping the UAE’s flagship crude grade, after cuts were made last month, numerous trading sources told Reuters on Thursday.BP, TotalEnergies, China National Petroleum Corporation (CNPC), Zhenhua Oil, Inpex of Japan, and South Korea’s GS Energy are partners of the UAE’s state energy firm in ADNOC Onshore. These equity holders are entitled to receive about 40% of the Murban output, which is around 2.1 million barrels per day (bpd).ADNOC last month notified its partners that the total Murban crude supply…

Kinexys by J.P. Morgan partners with S&P Global Commodity Insights, EcoRegistry, and International Carbon Registry to pilot a blockchain application that tokenizes carbon credits at the registry level. The initiative aims to enhance market transparency, efficiency, and trust by enabling interoperable and standardized digital infrastructure for the voluntary carbon market (VCM). Testing focuses on full lifecycle tracking and registry interoperability, supporting the firm’s broader goal to scale carbon markets through blockchain innovation. J.P. Morgan’s blockchain unit, Kinexys, has launched the next phase of its carbon market initiative, developing a blockchain-based application to tokenize global carbon credits. The solution—built on Kinexys…

ONGC, India’s biggest oil and gas explorer, will hold at least 26 per cent stake in the joint venture company with the option of increasing the stake to 50 per cent while the remaining equity will be held by the JV partnerMUMBAI: State-owned Oil and Natural Gas Corporation Ltd (ONGC) has picked Japan’s Mitsui O.S.K. Lines, Ltd (MOL), the world’s second largest fleet owner, to form a joint venture for owning and operating two very large ethane carriers (VLECs) costing some $370 million for hauling ethane to the Dahej, Gujarat-based petrochemical plant run by its subsidiary ONGC Petro additions Ltd…

Mars reduced absolute GHG emissions by 1.9% in 2024, achieving a 16.4% cut since 2015 while growing to $55 billion in annual net sales. Launched a $250 million Mars Sustainability Investment Fund (MSIF) targeting solutions in advanced agriculture, innovative ingredients, and next-gen packaging. Expanded climate-smart agricultural projects to 60+ across 29 countries, with major gains in deforestation-free supply chains, water efficiency, and farmer livelihoods. Mars Incorporated has announced a 1.9% absolute reduction in greenhouse gas emissions in 2024, reinforcing its continued ability to decouple environmental impact from economic growth. Since 2015, the company has now achieved a 16.4% reduction in…

TotalEnergies SE said Wednesday it had completed the purchase of a 50 percent stake in AES Corp.’s renewable energy and battery energy storage system (BESS) portfolio of over one gigawatt in the Dominican Republic. Last year the French energy giant acquired a 30 percent stake in Arlington, Virginia-based AES’ renewables portfolio in Puerto Rico. “The combined portfolio now exceeds 1.5 GW of renewable energy and BESS capacity across the Caribbean”, TotalEnergies said in an online statement. The Dominican portfolio includes wind, solar and BESS projects, 410 megawatts of which are operational or under construction. Under-development wind and solar total over 500 MW.…

Arabian Gulf Oil Company (AGOCO), wholly owned by the National Oil Corporation of Libya, has completed repairs on a crude oil pipeline where a leak was detected at the end of May.AGOCO completed the repairs on the Hamada-Zawiya crude oil pipeline, the company said on Thursday, as carried by Reuters.Zawiya, which lies 25 miles west of Tripoli, is home to the largest operational refinery in the country with a capacity to process 120,000 barrels per day (bpd) of crude oil. The Zawiya refinery is connected to the 300,000-bpd Sharara oilfield, Libya’s largest.Following the leak on the Hamada-Zawiya pipeline, AGOCO halted…

JPMorgan announced that its blockchain business unit, Kinexys, is currently developing and testing a new blockchain application to tokenize global carbon credits, in a bid to resolve key standardization and transparency challenges holding back the voluntary carbon market (VCM). The company said that it is partnering with S&P Global Commodity Insights, EcoRegistry and the International Carbon Registry (ICR) to test the carbon credit tokenization on their own registries. The new initiative comes as demand for carbon offset projects and related credits is expected to increase significantly over the next several years, as companies utilize credits as a bridge to their…