About S&P Global Commodity Insights

Powering the Markets

S&P Global Platts and IHS Markit ENR combine to become S&P Global Commodity Insights. S&P Global Commodity Insights brings together highly complementary capabilities to power the markets of the future.

Assessments & Benchmarks

We engage with market participants and evolve rigorous methodologies for assessments that reflect a commodity’s true value. Along with news and market commentary, our assessments help you make successful trading decisions.

Workflow Solutions

We partner with you to enhance workflows, increase efficiency and optimize business processes by leveraging AI-driven software and applications, integrated platforms and machine delivery.

Research & Insights

We develop deep, interconnected industry analysis and forecasts across the full energy and commodities value chain. Subscriptions to our market insights and analysis include access to subject matter experts.

Conferences & Advisory Solutions

We provide consulting services on current challenges such as renewables and energy transition, and host education sessions, webinars, and premier events like CERAWeek and Global Power Markets. 

Together we are helping companies like yours with highly relevant information, expert analysis, and workflow solutions you need to maintain your competitive edge.

ExxonMobil urges financiers to push for carbo pricing, low-carbon incentive policies

The vice president of ExxonMobil's new low-emission technology business called on financiers to join the energy industry in pushing for policies that incentivize investments in low carbon developments, especially policies that would introduce carbon pricing.

ExxonMobil's Low Carbon Solutions business was created in March to commercialize technologies like carbon capture and storage, biofuels and hydrogen. In November, the company announced a $15 billion investment over the next 6 years to reduce greenhouse gas emissions from its operations, with a significant portion of that amount going towards Low Carbon Solutions.

During a Dec. 8 panel at the 23rd World Petroleum Congress, Vice President Scott Darling highlighted how the company prioritizes environmental, social and governance criteria into its investment decisions and pushed other financial institutions to become ESG advocates in the policy arena.

"I hope our financial partners will join us in advocating for comprehensive and actionable policy that incentivizes investment and solutions that are supportive of society's ambitions of a lower carbon solution," Darling said.

One of the key ways to drive those investments, he added, is a transparent price on carbon, which he described as "the most effective way to reduce greenhouse gas emissions at the lowest cost to society."

It's not the first time ExxonMobil has pushed for carbon pricing. The company's position on the policy became a center of controversy earlier this year after Greenpeace activists released a video of an ExxonMobil lobbyist unwittingly sharing the company's lobbying tactics to a Greenpeace investigator posing as a headhunter.

In the video, lobbyist Keith McCoy said that the company's public support for a carbon tax, which has been treated by Democrats as a politically risky policy, is used as more of a talking point than a serious proposal. ExxonMobil CEO Darren Woods called McCoy's comments "disturbing and inaccurate," and reinforced the company's support for a carbon tax.

Darling repeated the company's carbon tax stance Dec. 8.

"The effect of carbon markets and pricing can be powerful tools to encourage the development of low carbon technologies and provide a clear financial incentive to attract public and private investment to lower emissions," he said.

Carbon tax legislation

Leaders from around the energy industry have often highlighted carbon pricing as the fastest pathway towards decarbonization in the US, although many doubt the measure's chances of passing through Congress. Although a carbon tax was floated as an idea to pay for President Biden's $1.2 trillion infrastructure bill, it failed to materialize over fears of potential impact on consumer goods prices.

Five other carbon pricing proposals have been introduced this year, according to the Center for Climate and Energy Solutions. The center also reports that the Senate Finance Committee is considering inclusion of a carbon price in the Biden Administration's Build Back Better Act.

Twelve states already have carbon pricing in action, and a number of others are considering similar policies.

Meanwhile, voluntary carbon markets have made significant gains this year as carbon credit prices surged in October and November before dropping slightly in early December. According to Platts price assessments, CORSICA-eligible carbon credits were valued at $8.15/mt CO2e on Dec. 8. Nature-based carbon credits were valued at $14/mt CO2e.

To get the file, fill out the form below:

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Connect Now

Other Articles

Infographic: Insufficient lithium supply could decelerate energy transition

Lithium is a key raw material for electric vehicles and energy storage systems, but the lack of investment in new supply in previous years might generate a structural deficit throughout this decade, data from the expected supply versus expected demand (both until 2030) demonstrates.

Steel versus plastics: The race to sustainability

S&P Global Platts looks at the supply, demand, and price drivers of today’s growing recycled plastics market, as well as the opportunities and challenges of the plastics sector in a circular economy.

Oil Security Sentinel™

An interactive editorial project exploring the changing relationship between geopolitical risk and the price of crude. This analysis shows how diversity of supply, higher levels of global spare capacity and the expansion of strategic petroleum reserves have helped to insulate markets from the risk of supply disruptions in the Middle East and beyond.

Infographic: Russian invasion of Ukraine puts spotlight on security of oil, gas and commodities flows

Conflict in Ukraine following Russian troops launching attacks across international borders on Feb. 24, has already had a major impact on prices of key commodities from oil and gas through to steel and grains. Europe is heavily reliant on gas and Urals crude via the Druzhba pipeline to refiners across the region.

Reckoning with renewables: As carbon certifiers tighten rules, renewable energy may re-evaluate options

Amid a growing collection of corporate net-zero claims and growing evidence of the devastating consequences of climate change, there has been increasing focus on voluntary carbon credit projects that claim to either reduce, avoid or remove greenhouse gas emissions.

Listen: Hydrogen and the path towards decarbonization

Hydrogen has received extraordinary policy support over the past year, with nations worldwide racing to publish national hydrogen strategies. These roadmaps provide a decade-long pathway to developing wide-scale utilization of low-carbon hydrogen as a means to achieving deep decarbonization in otherwise problematic sectors.

ANZ bank takes minority stake in energy transition focused advisory firm Pollination

Australian banking and financial services company ANZ will invest US$50 million for a minority equity stake in Pollination, an Australia-based investment and advisory firm focused on climate change, they said in a joint statement Feb. 16, adding that the partnership aims to drive the transition to net-zero and support biodiversity.

Banks seeking to finalize framework for steel decarbonization in Q2

A group of banks including ING, Citi and Goldman Sachs, plan to finalize a framework for lending to support the global steel industry's decarbonization efforts during the second quarter, following further dialogue with stakeholders including steel companies and industry groups.

Breaking barriers to accelerate energy transition

Our new special report looks at how energy and commodity markets are responding to the decarbonization challenge, from oil to marine fuels to battery metals and petrochemicals.

Atlas of Energy Transition™

Navigating a pathway to a low-carbon global economy requires a new plan. The S&P Global Platts Atlas of Energy Transition™, produced in collaboration with S&P Global Market Intelligence, is your map to the sustainable commodity markets of the future.

Pressure builds on oil, gas funding as HSBC rolls out net-zero lending targets

HSBC laid out plans Feb. 22 to cut its lending to oil and gas clients based on their carbon emissions as the UK bank looks to align its loan portfolio with the International Energy Agency's landmark scenario for hitting net-zero by 2050.

Financial Sector Case Studies

By working closely with our customers for more than a century, S&P Global Platts has become one of the most respected sources of relevant, independent pricing information, insights and analysis in the global energy and commodity markets. Download the brochure and see examples of our work with financial institutions around the world.

Watch: The Role of Energy Markets in Investor Commitments to Decarbonization

Lauren Smart, Managing Director and Global Head of ESG Commercial for S&P Global Platts Market Intelligence sat down with Gordon Bennett, Managing Director of Utility Markets at the Intercontinental Exchange to talk about ESG the energy transition, hedging, decarbonization, and much more.

Understanding Voluntary Carbon Markets

Trade in voluntary carbon credits is rising as companies look to offset their emissions. Silvia Favasuli and Vandana Sebastian explain how the market works, key players and pricing principles.

Factbox: As SWIFT ban hits banks, spotlight turns on how Russia sells its oil

Concern is growing over the impact that a ban announced Feb. 26 on Russian banks using the SWIFT international payment system could have on the trading of Urals crude oil.

Singapore announces larger-than-expected carbon tax to fund long-term decarbonization

Singapore will raise its carbon tax to S$25/mt ($18.60) of CO2 equivalent in 2024 and 2025, from S$5/mtCO2e ($3.7), to finance its decarbonization efforts, create a regional carbon marketplace and bring forward its net zero emissions deadline, the government said Feb. 18.