Updates and Resources

In September 6th comments to the New Jersey Board of Public Utilities (BPU), Public Service Enterprise Group (PSEG) argued that “moving from gas to electric at this time will have an insignificant impact on reducing emissions”, and emphasized that regulators should develop flexible pathways toward decarbonizing the gas sector. The utility company also stated support for the production of hydrogen from fossil gas, without setting clear conditions related to carbon capture and storage (CCS) or mitigating emissions. This regulatory proceeding was opened following Governor Murphy’s February 2023 Executive Order directing the BPU to examine how gas utilities can reduce their emissions in accordance with the state’s 2030 GHG emissions reduction target.

In a statement reported by Sky News, a Ford UK executive urged the UK government to stick to its 2030 ICE phase date plans and to not delay the phase-out date to 2035, following leaked reports of a planned rollback by UK Prime Minister Rishi Sunak.

In a September 19th Financial Times article, a representative from the Investment Company Institute outlined objections to the US Securities and Exchange Commission (SEC)’s proposed updates to its Names Rule, calling the amendments a “very blunt proposal.”

In a September 7th letter to California Senator Scott Wiener, Apple stated its support for SB 253, a greenhouse gas disclosure bill, including its Scope 3 emissions disclosure requirement.

In a news release published on September 12th, Daikin stated that it has introduced energy efficiency and conservation measures across its global operations, insisting that 'appropriate' policies and regulations for energy efficiency are needed.

At a joint press conference held on August 28th, Keidanren Chairman Maksakazu Tokura supported nuclear power and fusion in Japan, stating that "given the location of Japan, renewable energy alone will not be sufficient."

According to a Nikkei article published on August 26th, Japan Business Federation (Keidanren) Chairman Maksakazu Tokura supported nuclear power generation and fusion in Japan, while remaining unclear on his position on the need to transition the overall energy mix. In the article, he also supported the Green Transformation (GX) policy, and expressed hope that the government would invest and provide predictability, without mentioning specifics or the need for regulations.

Ahead of a rumoured government summit dedicated to securing capital for North Sea projects, Offshore Energies UK CEO David Waterhouse told Energy Voice in an August 23rd article that oil and gas companies must have ‘fair access to finance’. He added that oil and gas will continue to be needed and that new oil and gas fields should come online to replace those that have matured.

At a hearing with the Japanese Ministry of Economy, Trade, and Industry (METI) on August 23, Toray Industries supported the development of hydrogen and ammonia produced with renewable energy to decarbonize transportation and heavy industry, and requested an early start to the operation of the Green Hydrogen Price Differential Support Program.

In August 2023, Petrobras CEO Jean Paul Prates supported new investments which will lock oil into the long term energy mix, supporting the exploration of fossil fuels to “pay for the energy transition”. He supported new oil exploration in another August 2023 press release, but suggested that oil will be phased out of use in 2050.

In a 14th August letter to the California Assembly Appropriations Committee, companies including Adobe, IKEA, and Microsoft urged lawmakers to pass SB 253, the Climate Corporate Data Accountability Act, a bill that would require corporations doing business in California to disclose Scope 1, 2, and 3 greenhouse gas emissions annually and publicly.

In August 8th comments on the US Environmental Protection Agency’s proposed power plant rules, Edison Electric Institute (EEI) opposed the ambition of the rules and suggested that the agency was acting beyond its legal boundary in proposing phased standards. EEI also emphasized that the agency's proposal to implement CCS and hydrogen is “not legally or technically sound” and that “unachievable standards” will delay construction of new fossil gas infrastructure.

During the METI Committee held in August 2023, vice chairman of FEPC stated the importance of securing the stable energy supply in Japan and it’s necessary to make further improvements to the implementation of strategic surplus LNG based on their past efforts.

In a video posted by the Canon Global Institute on August 2, Hiroyukai Tezuka, who is affiliated with Japan Business Federation (Keidanren) and JFE Steel, appeared to call for a stop to investment in other BEV technologies, while supporting PHVs with all solid state batteries along with EVs.

A 31st July Politico article reported that an executive from Ford stated that the UK’s zero-emission vehicle mandate currently poses “a threat” to its business unless it is refined, further reporting that Honda and Toyota had also raised concerns around the mandate, with the Society of Motor Manufacturers and Traders (SMMT) CEO also criticizing high fines and the need for binding targets on EV charging infrastructure.

In a 28th July website post, the National Association of Manufacturers (NAM) advocated for the House Financial Services Committee to advance policies that would limit mandatory climate disclosures and rollback shareholder rights.

In July 19th comments to the Federal Energy Regulatory Commission (FERC), Duke Energy subsidiaries advocated for the Southgate extension to the Mountain Valley Pipeline (MVP), stating that the pipeline “will address existing and growing demand for incremental natural gas supply in North and South Carolina.” The subsidiaries characterized fossil gas as a bridge fuel and emphasized that new fossil gas infrastructure is needed to meet affordability and reliability needs caused by retiring coal plants. The owners of the Southgate extension to MVP had requested that FERC extend their construction permits, which have expired; the comment period on the matter closed in late July and FERC is expected to decide in a few months whether to extend the permits.

At a council meeting of the Ministry of Economy, Trade and Industry (METI) on July 28th, the Japan Gas Association (JGA) supported e-methane policy with a mixed impact on the transition of the energy mix.

In an interview with China Economic Times on August 1st, PetroChina’s think tank ETRI supported exploration of various types of fossil gas resources in China, including conventional gas, tight gas, coalbed methane, and coal gasification.

Confederation of Indian Industry (CII) advocated for policy measures to support the development and adoption of electric vehicles alongside charging infrastructure in a 12th July blog.

In a message posted to the website of the 2023 LNG Producer-Consumer Conference, co-hosted by the Japanese Ministry of Economy, Trade, and Industry on the 18th of July, the President and CEO of Mitsubishi Heavy Industries stated support for a transition to “natural gas including LNG” as a “stable cleaner baseload power supply, from other fuels with higher emissions.”

In a July 16th article by DK Ilbo, Korea Gas Corporation (KOGAS) advocated for the usage of fossil gas in power generation to achieve carbon neutrality and an “eco-friendly fuel transition”.

At the GX Executive Council meeting held on August 23rd at the Cabinet Secretariat of the Japanese Government, the Japan Business Federation (Keidanren) viewed nuclear power as a transitional energy source for fusion power generation and advocated further government support for it. In addition, at the same meeting, it requested accelerated consideration of an emissions trading system, but did not clarify the specific details of its position on this.

After the US Securities and Exchange Commission (SEC) voted to adopt the updates to its Names Rule on 20th September, Investment Company Institute CEO Eric Pan released a statement that said that the decision would “hurt American retail investors.”

In a September 11th tweet, Google California expressed support for SB 253 and SB 261, California bills that would mandate the disclosure of greenhouse gas emissions and climate risk.

In a message published on the Japan Chamber of Commerce and Industry (JCCI) website on September 13th commenting on the Japanese Cabinet reshuffle, JCCI Chairman Kobayashi called for the restart of nuclear power plants for a “stable supply of energy,” but did not specify a position on the general transition of the energy mix.

In a report published by OCCR on August 31st, 2023, both Vedanta Resources (Vedanta) and the Federation of Indian Chambers of Commerce and Industry were found to have led a ‘covert lobbying campaign’ to weaken key environmental regulations in India during the pandemic. Vedanta appears to have been particularly instrumental in influencing the government’s decisions to ‘illegally’ scrap processes which previously required miners to hold public hearings before expanding oil exploration projects. It appears that both organizations successfully engendered a loosening of permitting regulations on mining more generally in India.

On September 4th, the Central Japan Economic Federation published a position paper on the upcoming FY2024 tax revision, in which it emphasized the need for a tax system that accelerates the green transformation (GX) in Japan. It's requests included an extension of the carbon neutral investment acceleration tax system, tax breaks to spread electric vehicles that contribute to carbon neutrality, and tax reduction measures on capital investment for technologies such as hydrogen and ammonia, carbon recycle fuel, renewable energy, carbon capture and storage (CCS), and next generation automobiles and aircrafts. The paper also stated that growth oriented carbon pricing should be designed to be compatible with Japan’s economic growth, and that its disclosure should be made as early as possible.

Several Indian companies including JSW Steel, ReNew and UltraTech Cement, alongside IKEA and Heineken, called on G20 leaders to enable climate policy action to support a 1.5°C-aligned just and equitable clean energy transition in a 30th August joint letter. Alongside support for the goals of the Paris Agreement, the companies advocated for carbon pricing measures. The letter also supported measures to decarbonize energy, transport and hard-to-abate sectors, including targets to phase out fossil fuels, reform fossil fuel subsidies, and measures to increase the deployment of zero emission vehicles.

At a meeting of the Japanese Cabinet’s Green Transformation (GX) Executive Committee on August 23rd, Chairman Kobayashi of the Japan Chamber of Commerce and Industry (JCCI) supported the “early and steady implementation” of the government’s Growth-Oriented Carbon Pricing Concept.

On August 24th, the American Petroleum Institute (API) and Chevron, alongside the Louisiana Attorney General, filed a lawsuit challenging the US Interior Department’s removal of six million acres of a Gulf of Mexico offshore oil lease sales scheduled for next month. In the press release announcing the challenge, API appeared to advocate for regular lease sales under the federal offshore leasing program for oil and gas.

In an August 17th article by Business Post, an official of SK Innovation stated its support for ammonia as an “effective means” of utilising hydrogen as an energy source. However, they did not clearly present a position on the decarbonization of hydrogen production.

In a 21st August Insurance Journal article, representatives from the American Property Casualty Insurance Association and the National Association of Mutual Insurance Companies expressed concern about federal legislation that would require insurance companies to disclose investments and underwriting related to fossil fuels.

At a council meeting of Japan’s Ministry of Economy, Trade and Industry (METI) on August 8, the Japan Business Federation (Keidanren) appeared to promote the role of the private sector in securing LNG supply. Keidanren likewise appeared to support the use of thermal power generation for peaking beyond 2030.

According to a 10th August press release, the Securities Industry and Financial Markets Association (SIFMA) has filed a federal court challenge against new “anti-ESG” rules in Missouri, alleging that the rules are “unnecessary and create confusion.”

In a 2nd August article by EKN, KOGAS appeared to support the zero-emission transition in the energy mix, including the usage of fossil gas with the “commercialization of large-scale CCS technology.”

In a video posted by the Canon Global Institute on 2nd August, Hiroyukai Tezuka, who is affiliated with Japan Business Federation (Keidanren) and JFE Steel, appeared to suggest that investment in zero-emission energy sources other than perovskite solar should be halted.

In a July 28th press release, Business Roundtable CEO Joshua Bolten expressed support for legislation introduced in the House Financial Services Committee that would limit shareholder rights by “reining in the SEC’s harmful and unjustified regulatory agenda.”

In a series of tweets posted on July 18th, the National Association of Manufacturers (NAM) expressed support for bills that would limit the Securities and Exchange Commission (SEC)’s authority to mandate corporate ESG disclosures and would limit the use of shareholder rights.

In a July 24th letter to the US Secretary of Energy Jennifer Granholm, Senior Advisor John Podesta, the US Treasury Department, and the Internal Revenue Service, over thirty industry groups and companies advocated for weaker implementation guidelines for the Inflation Reduction Act (IRA)’s hydrogen tax credits. The letter, whose signatories included the US Chamber of Commerce, National Grid New York, Johnson Matthey, and Mitsubishi Power Americas, emphasized that the proposed criteria, including for hourly matching, were “overly restrictive.” The Treasury guidance is expected to be released at some point in the next few months.

At a council meeting of the Japanese Ministry of Economy, Trade and Industry (METI) on July 31st, the Japan Business Federation (Keidanren) appeared unsupportive of the mandatory installation of residential solar power generation, emphasizing economic considerations. Meanwhile, it also supported regulations for renewable energy development, such as the deregulation of building code floor-area ratios and the installation of solar carports.

In a July 24th op-ed article in Energy Newspaper, the Korea Gas Association (KOGAS) appeared to support grey hydrogen, which is produced from fossil fuels, and using fossil gas infrastructure for hydrogen supply, stating that “the gas industry does not need to focus on promoting clean hydrogen unconditionally” and grey hydrogen will be providing "a supporting role for a certain period of time”.

At a regular press conference of the Petroleum Association of Japan (PAJ) on July 20, Chairman Kito advocated for hydrogen and ammonia without mentioning the need to decarbonize their production.

In a July 12th letter to the House Financial Services Committee, Business Roundtable commended congressional efforts to reverse SEC rulemaking that expanded shareholder rights.

At a committee hearing hosted by the Agency for Natural Resources and Energy of the Japanese Ministry of Economy, Trade, and Industry on June 28th, the President of Nippon Steel supported nuclear energy, while emphasizing “unfavorable” conditions for developing renewable energy in Japan, and also advocated for increased government investment toward Green Transformation (GX).

During the GX Executive Council meeting held by the Cabinet Secretariat of Japan on August 23rd, Mitsubishi Corporation communicated the need for government intervention to support a transition towards renewables. The company recommended the establishment of supply chains for renewable energy facilities and supported measures to reduce costs.

According to September 18th reporting from Politico and the New York Times, the California Chamber of Commerce opposed newly passed California climate disclosure legislation, and pledged to work on “cleanup” legislation to “mitigate the impact of the new law.”

After the UK government announced it would delay its ICE phase out policy for vehicles from 2030 to 2035, in statements reported by Autocar, Toyota welcomed the decision to weaken the rule, while Jaguar Land-Rover (Tata Motors) similarly praised the decision as “pragmatic”. In contrast, Automotive News reported that Kia (Hyundai) stated the delay was “disappointing”, while Volkswagen emphasized the need for a “clear and reliable regulatory framework that creates market certainty and consumer confidence”.

In a September 5th Floor Alert, Sempra subsidiaries SDG&E and SoCalGas urged California lawmakers to vote no on SB 253, a greenhouse gas emissions disclosure bill, asserting that the bill’s Scope 3 disclosure requirements would impose “potentially insurmountable” costs on “Diverse Business Enterprises.”

News outlet InfoBae reported that Ecopetrol President Ricardo Roa seemed to support a continued role for fossil gas in Colombia’s energy mix without placing clear conditions on the need for methane mitigation technologies, and without clearly specifying timelines which are aligned with IPCC guidance on gas phaseout.

In its "Regulatory Reform Request for FY2023", posted on its website on September 12th, the Japan Business Federation (Keidanren) supported more ambitious renewable energy legislation while supporting thermal power generation as an adjustment force. The entity also published its "Proposal for Fiscal 2024 Tax Reform" on its website on the same day and appeared to oppose a carbon tax.

In a September 8th Car Dealer Magazine article, Toyota’s UK chief was reported to have emphasized concerns around meeting the UK’s zero-emission vehicle mandate, urging “greater flexibility”, and advocating to weaken the UK’s internal combustion engine (ICE) vehicle phase out policy by calling for the sale of ICE-powered hybrids from 2030-35.

On August 29th, Delta Air Lines released a press release that appeared to support Minnesota’s sustainable aviation fuel (SAF) tax credit. It stated that Minnesota is “well positioned to be a global competitor” in Power-to-liquid fuels because of its wind and bio-based resources.

In an opinion paper submitted by the Representative Director of the Japan Association of Corporate Executives (Keizai Doyukai) to the Japanese Cabinet Secretariat’s New Capitalism Realization Conference on August 31st, Keizai Doyukai advocated for “a roadmap for the supply of inexpensive energy,” including “hastening the restart of nuclear power plants”, but did not specify a position on the overall transition of the energy mix.

At a press conference on August 29th, Chairman Niinami of the Japan Association of Corporate Executives (Keizai Doyukai) stated support for the Japanese government’s extension of subsidies for gasoline and diesel fuel, while stating that he cannot “see an exit strategy (for the subsidy policy) at the moment.”

In an August 2023 Twitter post from National Mining Association CEO Rich Nolan, the association continued to oppose the US Environmental Protection Agency (EPA)'s new power plant emissions standards on account of coal fired power plant closures, claiming that the nation's energy future "hangs in the balance".

In a 17th August letter to the Securities and Exchange Commission (SEC), the Investment Company Institute expressed concern with the Commission “hurrying through” its regulatory agenda to finalize “substantially flawed” rules, including its proposed Environmental, Social, Governance (ESG) disclosure rules for public companies and investment companies, and its proposed amendments to the Names Rule.

In a 14th August letter to the California Assembly Appropriations Committee, companies, including Microsoft and VF Corp, urged lawmakers to pass SB 261, a bill that would require corporations, financial institutions, and insurers to report on their climate-related financial risk.

In August 8th joint comments to the US Environmental Protection Agency (EPA) organized by Ceres, Danone advocated for the agency to increase the scope of its proposed greenhouse gas emissions standards for power plants and to finalize ambitious standards by March 2024. The comments emphasized that the proposed standards are “achievable” and that the agency should “consider strengthening these standards to the maximum extent feasible.”

As reported by Maeil Business Newspaper on the 27th July, the Chairman of the Korea Automobile & Mobility Association (KAMA), Kang Nam-hoon, stated support for the enactment of “Future Vehicles Special Act” that would help automotive parts-manufacturing corporates in the transition to electric vehicles.

In a July 2023 amicus brief, the subsidiaries of utilities Duke Energy, Dominion Energy, and Southern Company advocated for the completion for the Mountain Valley Pipeline, stating that “new natural gas electric generation is required to keep the Southeast on track to achieve carbon neutrality.” Each utility emphasized the need for fossil gas in the region and warned that any delay in the project will result in increased costs. The Mountain Valley Pipeline was approved in the federal debt ceiling bill and has subsequently met with legal challenges.

In a July 31st press release, Offshore Energies UK (OEUK) came out to support the UK government's decision to grant at least 100 new oil and gas licences in the North Sea, stating that ‘Domestic production is the best pathway to net zero’.

In a July 31st letter to the US Securities and Exchange Commission (SEC), the Investment Company Institute (ICI) expressed continued opposition to the Commission’s proposed amendments to its rule governing fund names, asserting that the rulemaking is outside of the SEC’s statutory authority and may violate the First Amendment.

In a statement before the July 26th Senate Committee on Energy and Natural Resources hearing on permitting reform, American Electric Power took no clear position on the role of permitting reform in the energy transition, but appeared to push back on the ambition of the Environmental Protection Agency’s proposed power plant rules, stating that “regulation will not be sustainable if it, in practice, drives reliability problems.”

In June-July 2023, the American Petroleum Institute (API) and Consumer Energy Alliance (CEA) submitted comments to the US Federal Energy Regulatory Commission advocating for the Southgate extension of the Mountain Valley Pipeline project – a fossil gas pipeline that would run from Virginia into North Carolina.

In a 19th July press release, UltraTech Cement’s managing director, Kailash Jhanwar, stated support for the decarbonization of the transport sector, specifically using zero-emission vehicles for heavy-duty transport.

At a press conference held by the chairman of the Japan Gas Association (JGA) on July 10th, Chairman Honjo expressed support for "carbon-recycling fuels," including e-methane. According to a Reuters article published the same day, he expressed hope that Prime Minister Kishida's visit to the Middle East would help Japan secure stable supplies of liquefied natural gas (LNG) and other fuels, saying, "We hope the prime minister will work hard on (diplomatic) exchanges between countries to ensure stable procurement of fuels."

As reported by DNews on July 17th, the Korea Automobile & Mobility Association (KAMA) stated support for the enactment of “Future Vehicles Special Act”, which would help automotive parts-making corporates in the transition to electric vehicles.