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Hyundai Glovis Partners with Lab021 to Deploy ‘Vessellink'
Hyundai Glovis Partners with Lab021 to Deploy ‘Vessellink'

Business Wire

time6 days ago

  • Automotive
  • Business Wire

Hyundai Glovis Partners with Lab021 to Deploy ‘Vessellink'

TOKYO--(BUSINESS WIRE)--Hyundai Glovis, a global leader in smart logistics, has entered a strategic partnership with maritime IT solutions provider Lab021 to implement Vessellink, an advanced digital reporting system designed for ship operations. The collaboration aims to integrate Vessellink for Ship, Lab021's flagship platform, into Hyundai Glovis's maritime operations. This system automates data collection, analysis, and reporting of critical vessel metrics such as real-time voyage monitoring, carbon emissions, and operational efficiency. By digitizing these processes, Hyundai Glovis seeks to enhance operational intelligence and agility while reducing reliance on manual reporting. This initiative is timely as the maritime industry faces increasing regulatory demands on decarbonization. The International Maritime Organization (IMO) is advancing measures targeting greenhouse gas reduction, including stricter carbon intensity standards and the introduction of a global carbon pricing mechanism expected around 2027. In parallel, the European Union's FuelEU Maritime regulation, effective in 2025, requires vessels calling at EU ports to progressively increase the use of low-carbon fuels. Additionally, the EU Emissions Trading System (EU ETS) extended its scope to include shipping in 2024 and plans full emissions coverage by 2026. By adopting Vessellink, Hyundai Glovis positions itself ahead of these regulatory requirements, strengthening its Environmental, Social, and Governance (ESG) commitments. The platform's detailed emissions tracking and real-time reporting improve transparency and build trust with global customers and regulators. A Hyundai Glovis spokesperson commented, 'We are upgrading our data management to align with the maritime sector's goals for decarbonization and digital innovation. Vessellink enables compliance and streamlines our operations. We look forward to expanding our partnership with Lab021 to develop smarter, greener shipping solutions.' Lab021 CEO Sangbong Lee added, 'Vessellink represents the future of maritime digitalization, merging precise vessel data with intelligent automation. Our partnership with Hyundai Glovis marks a key step in expanding global adoption of data-driven carbon management tools in shipping.' This collaboration highlights Hyundai Glovis's commitment to future-proofing its maritime activities and reflects the broader industry trend where digital transformation is essential for sustainable shipping.

Norwegian Ministry of Climate and Environment concludes in favour of Elkem in EU ETS free emission allowances allocation complaint
Norwegian Ministry of Climate and Environment concludes in favour of Elkem in EU ETS free emission allowances allocation complaint

Yahoo

time09-07-2025

  • Business
  • Yahoo

Norwegian Ministry of Climate and Environment concludes in favour of Elkem in EU ETS free emission allowances allocation complaint

OSLO, Norway, July 9, 2025 /PRNewswire/ -- Elkem ASA has been informed that the Norwegian Ministry of Climate and Environment (KLD) has concluded that Norwegian silicon, ferrosilicon and manganese producers were unequally treated compared to European Union producers in the allocation of free emission allowances under the EU Emissions Trading System (EU ETS) by the Norwegian authorities for the period 2021-2025. The case has been sent to the Norwegian Environment Agency (Miljødirektoratet) to be processed anew. The Norwegian Environment Agency will re-evaluate the case to ensure that the allowance allocation process is based on the same interpretation of the EU regulations as that being applied by other EU countries. Under the EU ETS, industrial installations considered to be at significant risk of carbon leakage receive free allowances to support their competitiveness. Carbon leakage refers to the situation that may occur if, for reasons of costs related to climate policies, businesses were to transfer production to other countries with lower emission constraints. This could lead to an increase in their total emissions. For the period 2021-2025, certain industrial installations in Norway, including Elkem's five silicon products plants, were allocated free emission allowances at approximately 72 percent of the historical emissions, while EU counterparties received approximately 94 percent. "Elkem's complaint highlights the disparities in allowance allocations that have affected the competitiveness of Norwegian metal companies compared to their counterparts in other EU countries. The support from the Norwegian Ministry of Climate and Environment underscores the importance of fair and equitable treatment in the allocation of allowances, which is crucial for maintaining a level playing field in the industry," says Inge A. Grubben-Strømnes, SVP Elkem Silicon Products. Based on Elkem's understanding, the letter from the Norwegian Ministry of Climate and Environment implies that Elkem will receive approximately 1.3 million additional free emission allowances for the period 2021-2025. For further information, please contact: Odd-Geir LyngstadVP Finance & Investor RelationsTel: +47 976 72 806Email: Marianne StigsetVP Corporate Communications & Public AffairsTel: +47 411 88 482Email: This release contains inside information related to Elkem ASA pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This release is issued by Odd-Geir Lyngstad, VP Finance and Investor Relations, Elkem ASA. Date and time of publication: 08:00 CEST, 09.07.2025. About Elkem Elkem is one of the world's leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,200 people has a joint commitment to stakeholders: Delivering your potential. In 2024, Elkem achieved an operating income of NOK 33 billion. Elkem has been awarded top score of A on Forests and Water Security, and B on Climate Change from CDP. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. This information was brought to you by Cision The following files are available for download: Elkem ASA - Norwegian Ministry of Climate and Environment concludes in EU ETS allowances View original content: SOURCE Elkem Sign in to access your portfolio

EU's 2040 climate target brings back welcome dose of pragmatism and flexibility
EU's 2040 climate target brings back welcome dose of pragmatism and flexibility

Euractiv

time03-07-2025

  • Business
  • Euractiv

EU's 2040 climate target brings back welcome dose of pragmatism and flexibility

On Wednesday the European Commission presented its proposal for the bloc's next climate target, targeting a 90% reduction in greenhouse gas emissions from 1990 levels by 2040. Europe's 2040 target is the key missing piece in the EU's decarbonisation pathway toward its mid-century net-zero goal. However, the Commission has emphasised that the policies to achieve this target must differ from those designed to deliver the climate goal of at least a 55% net GHG reduction by 2030 - calling for more pragmatism and greater flexibility. The Commission's suggested target includes a quota of 3% of the target that can be met through the use of international carbon credits generated under Article 6 of the Paris Agreement. The proposal heralds a new era of market-based cooperation under Article 6, by offering companies the 'flexibility' to deliver emissions reductions and removals where they are most cost-effective. IETA welcomes this pragmatic move by the Commission to link the EU ETS with the wider international carbon marketplace. European policymakers have long been sceptical about allowing international credits into EU carbon markets, often citing the EU's 'negative experience with CDM credits.' This reluctance harks back to the period from 2008 to 2020, when the EU allowed the use of credits issued under the Clean Development Mechanism (CDM) to meet a limited portion of the emission reductions required by EU ETS compliance entities. Unfortunately, CDM credits entered the EU's carbon market just as the 2008-9 global financial crisis hit, creating a perfect storm of decreasing demand and increasing supply in the EU ETS. Additionally, CDM credits were not without controversy concerning their environmental integrity, forcing the EU to introduce bans on certain types of projects entering the EU ETS. Today, however, international credits are very different from what they were 15 years ago. Article 6 now provides a global framework for international carbon market collaboration, and the nascent Paris Agreement Crediting Mechanism (PACM) is delivering standardised rules and improved governance. Credits generated under Article 6 represent a significant shift from the CDM era; they are subject to more stringent methodologies, mandatory safeguards, and corresponding adjustments to ensure high environmental integrity and to prevent double counting of emission reductions. And while the PACM is still being operationalised, a clear demand signal from the EU is precisely what the emerging global carbon market needs. Engagement with international credits and enhanced inter-sectoral flexibilities have the potential to ease the cost of the EU's low-carbon transition, especially for hard-to-abate sectors. In this context, the role of Article 6 credits should not be limited to supporting mitigation efforts in land-based and forestry sectors. While IETA applauds the proposal to recognise permanent carbon removals under the EU ETS - as this can help boost market liquidity and reduce price volatility - the next step should be to integrate international carbon credits removal into the EU's carbon market, starting with removals generated under the Paris Agreement Crediting Mechanism. Naturally, all eligible removals must meet high-quality criteria, with credible safeguards on permanence and reversal risk. But maintaining market stability and the effective functioning of the EU ETS must remain a priority. The EU should be able to set guardrails to guarantee the quality of imported credits and to control their quantity and market impact. The same principle should apply to the integration of domestic removals - their interaction with EU and Member State policies and impact on carbon market functioning should be closely monitored. We urge Member States and the European Parliament to support enhanced flexibilities and the role for Article 6 credits in the 2040 climate package. We acknowledge that agreeing specific rules for market-based cooperation and integration of removals into the EU ETS will take time. The legislative package is expected next summer, followed by months - or years - of negotiations with co-legislators. Still, the proposal for the 2040 target deserves a swift endorsement, to provide business with stability and long-term predictability. That should be followed by in-depth analysis to determine whether the proposed flexibilities are sufficient. The Commission proposal represents a strong vote of confidence in international carbon markets, which is all the more significant after the EU's chastening experience with carbon credits in the 2008-2020 period. It also highlights the immense efforts of stakeholders around the world to increase the reliability and integrity of carbon reductions. Julia Michalak is the EU Policy Director at IETA and, Andrea Bonzanni is the International Policy Director at IETA.

EU Nations Seek New Carbon Market Changes to Prevent High Prices
EU Nations Seek New Carbon Market Changes to Prevent High Prices

Bloomberg

time24-06-2025

  • Business
  • Bloomberg

EU Nations Seek New Carbon Market Changes to Prevent High Prices

A group of European Union countries want changes to the region's new carbon market in order to prevent a surge in prices that could trigger a backlash against ambitious climate measures. Member states including Austria, Belgium, the Czech Republic and Italy are seeking steps such as early auctions of permits and stronger price controls in the EU cap-and-trade carbon program for transport and heating fuels, according to a draft document seen by Bloomberg News. The EU is due to start the Emissions Trading System 2 in 2027, complementing the existing ETS1 system that covers manufacturers, airlines and shipping.

COtwo Advisors Launches First Exchange Traded Product for Physical European Carbon Market
COtwo Advisors Launches First Exchange Traded Product for Physical European Carbon Market

Business Wire

time20-06-2025

  • Business
  • Business Wire

COtwo Advisors Launches First Exchange Traded Product for Physical European Carbon Market

NEW CANAAN, Conn.--(BUSINESS WIRE)--COtwo Advisors, LLC proudly announces the launch of the first Exchange Traded Product (ETP) offering efficient access to the physical European carbon market. This innovative financial product provides investors with physical exposure to the European Union Allowance (EUA) market, simplifying investment in carbon allowances. With our listing on the NYSE Arca, anyone can now efficiently and inexpensively invest in carbon allowances. Share Headquartered in New Canaan, CT, COtwo Advisors was founded with the mission to make carbon investing accessible to all. The COtwo Advisors Physical European Carbon Allowance Trust (NYSE Arca: CTWO), aims to reflect the performance of EUA prices, allowing investors to participate in the growing carbon market without complicated custody arrangements. The Trust's assets consist primarily of EUAs issued via the European Union Emission Trading System (EU ETS), where each EUA represents the right to emit one ton of carbon dioxide equivalent. 'Our goal is to provide efficient, low-cost access to the world's largest and most liquid mandatory carbon market,' said Ron Gutstein, COtwo president and founder. 'CTWO has several benefits for both investors and companies with requirements under the EU ETS. Investors can gain easy exposure to a unique asset class and can hedge the impact of carbon prices on their portfolio companies. Companies with obligations under the EU ETS can use CTWO to hedge their obligations and account for their investments in EUAs in a more precise manner on their balance sheets.' For more information, visit (for current prospectus: or contact info@ About COtwo Advisors, LLC: COtwo Advisors was created with the vision of making carbon allowance investing straightforward and accessible to all. The COtwo Advisors Physical European Carbon Allowance Trust (CTWO) provides a unique opportunity for those interested in carbon markets, offering exposure to the European Union Emissions Trading System (EU ETS), the world's largest and most liquid carbon market. Investors should carefully consider the investment objectives, risks, charges, and expenses of the fund. This and other important information is in the fund's prospectus, which can be obtained by calling (866) 990-6442 or by visiting Read the prospectus carefully before investing. Foreside Fund Services, LLC, serves as the Marketing Agent for the Trust.

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