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World needs much higher carbon prices to meet 2C target, say renowned economists

Published 14:03 on May 29, 2017  /  Last updated at 14:05 on May 29, 2017  /  Africa, Americas, Asia Pacific, Canada, Carbon Taxes, China, EMEA, EU ETS, International, South Korea, US  /  No Comments

The world needs carbon prices of at least around $40-80/tonne in 2020 and $50-100 in 2030 to keep global temperatures from rising above 2 degrees C, according to a report led by two renowned economists and backed by the World Bank’s Carbon Pricing Leadership Coalition (CPLC).

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Australian industry group pushes for access to international carbon credits

Published 10:38 on May 29, 2017  /  Last updated at 10:38 on May 29, 2017  /  Asia Pacific, Australia  /  No Comments

Australia’s climate change policy needs a complete makeover with broad access to international carbon offsets and potential border tax adjustments to protect domestic industry, according to the nation’s biggest industry lobby group.

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Voluntary carbon market data from CTX for May 26, 2017

Published 16:30 on May 26, 2017  /  Last updated at 16:30 on May 26, 2017  /  Africa, Americas, Asia Pacific, Australia, EMEA, International, Mexico, Middle East, Other APAC, South & Central, US, Voluntary Market  /  No Comments

A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data provided by CTX.

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New Zealand raises expected surplus in meeting 2020 carbon target

Published 08:50 on May 26, 2017  /  Last updated at 12:08 on May 26, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand on Friday released updated estimates on its status towards meeting its 2020 climate pledges, increasing by nearly 5% its forecast overshoot of the goal, which will come largely through the banking of almost 124 million leftover carbon rights from the first Kyoto period.

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Australia issues 137k carbon offsets to land-based projects

Published 08:43 on May 26, 2017  /  Last updated at 20:36 on May 26, 2017  /  Asia Pacific, Australia  /  No Comments

Australia’s Clean Energy Regulator this week issued 137,441 new carbon credits, all to projects establishing permanent forests or reducing the likelihood of uncontrolled savanna fires.

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Green Climate Fund invites private sector pitches for $500 mln in climate finance

Published 10:13 on May 25, 2017  /  Last updated at 13:59 on May 25, 2017  /  Africa, Americas, Asia Pacific, International, Other APAC  /  No Comments

The Green Climate Fund has launched a request for project proposals worldwide from private sector firms to cut carbon emissions or improve climate resilience in developing countries, offering a total $500 million in co-funding.

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NZ Market: NZUs fall to one-year low as national budget disappoints

Published 09:16 on May 25, 2017  /  Last updated at 13:09 on May 25, 2017  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances on Thursday retreated to their lowest levels since last June as the government’s annual budget failed to offer any clarity on expected changes to ETS regulations.

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Chemical firm takes Korean CER cancellations above 14 million

Published 14:31 on May 24, 2017  /  Last updated at 15:06 on May 24, 2017  /  Asia Pacific, Kyoto Mechanisms, South Korea  /  No Comments

South Korea’s Hu-Chems Fine Chemical Corp. this week converted 360,000 CERs into offsets eligible in the Korean ETS, taking the total number of Korean CER cancellations above 14 million.

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IETA members expect UK exit from EU ETS, but spread of global emissions markets -survey

Published 11:46 on May 24, 2017  /  Last updated at 19:40 on May 24, 2017  /  Americas, Asia Pacific, Australia, Aviation, Canada, China, China's National ETS, EU ETS, International, Shipping, US  /  No Comments

Six out of 10 respondents in the International Emissions Trading Association’s market sentiment survey expect the UK to drop out of the EU ETS, but most are optimistic that new markets will emerge globally driven by China and the aviation sector.

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Lawyer up: More lawsuits being filed against governments for climate inaction

Published 22:39 on May 23, 2017  /  Last updated at 00:25 on May 25, 2017  /  Africa, Americas, Asia Pacific, Bavardage, Climate Talks, EMEA, International, New Zealand, Other APAC, US  /  No Comments

Lawsuits seeking to hold governments to account for their climate-related commitments are on the rise, with over 650 filed in the US alone – almost three times the number recorded in the rest of the world.

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