Global energy transition, IP Week preview, IMO 2020: The week in energy and commodities

The global energy transition is well underway, but it was a week of mixed signals in the drive for decarbonization. In Europe, additions of wind power capacity in 2018 fell to their lowest level since 2011 and the outlook for investment is uncertain, sector association WindEurope said. Meanwhile, the EU struck an informal deal to enforce lower emissions from heavy goods vehicles. The rules would see new HGVs emit an average of 15% less CO2 by 2025 and 30% less by 2030 compared with 2019. Glencore was the latest commodities company to pitch its environmental commitments, as investor pressure on corporates mounts. The mining giant announced its intention to cap coal output by 2020 and focus on “commodities essential to the energy and mobility transition,” such as copper, cobalt and nickel. Despite widespread bullish views on EVs and commodities that are expected to power the transport revolution, S&P Global Ratings sounded a cautious note. In a report Friday, the company stressed that government policies and battery technologies will be major factors in the rate of growth. IP WEEK As the industry flocks to London for IP Week 2019, Platts editors discuss the big oil topics that will be in the… continue reading

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