Active pumpjacks from oil wells are pictured at the Inglewood Oil Field, the largest urban oil field in the United States, from the Baldwin Hills Scenic Overlook in Culver City, California, U.S., March 10, 2022. Picture taken March 10, 2022. REUTERS/Bing Guan

S&P Global Commodity Insights said on Wednesday it would launch the first carbon intensity assessments and daily carbon offset premiums for transportation fuels from Nov. 15 at key oil hubs.

The assessments will cover diesel, gasoline and jet fuel in the Northwest Europe (NWE), U.S. Gulf Coast and Singapore regions and are tied to existing price benchmarks in these markets, the company said in a statement.

They are aimed at helping market participants better understand the emissions profile of these fuels and to improve transparency in how carbon intensity is calculated, it added.

"Growing interest in carbon intensity from market participants and recent trades to account for carbon emissions are important steps in the right direction for the energy transition," said Paula VanLaningham, global head of carbon, S&P Global Commodity Insights.

Last year, the company launched carbon offset premiums for major crude oil fields.

S&P Global Commodity Insights will publish Platts monthly assessments of gasoline, diesel and jet fuel carbon intensity in kilograms of carbon dioxide equivalent per produced volume of product.

The daily price premium assessments are published using the daily Platts Carbon Removal Credit (CRC) voluntary carbon credit assessment.

Information such as the quantity of crude grade feedstock in each region, different types of refinery configurations, the number of these refiners and the regional refinery yields will be used to estimate a regional weighted carbon intensity value for the products.