Australia renewables market sees record fresh supply levels as investments pay off
Australia’s Clean Energy Regulator last month accredited the highest levels of new renewable energy capacity since Apr. 2001, confirming the nation is all but certain to meet its 2020 large-scale Renewable Energy Target (RET).
Read MoreMajor polluting projects could face mandatory offsetting under Australia’s Northern Territory’s new Aboriginal carbon plan
The Northern Territory government on Wednesday released a strategy for Aboriginal carbon farming that included exploring mandatory offsetting for big-emitting resource projects and a potential market for their co-benefits.
Read MoreIndustry group asks Australia to make quick decision on foreign offsets
To ward off a potential offset shortage, Australia should speed up in deciding whether emitters can use foreign carbon credits to help meet domestic targets, an influential industry group has said.
Read MoreChevron Australia urges protection against poor offset market liquidity
Australia should take steps to ensure that major emitters covered by the Safeguard Mechanism won’t face excessive penalty costs from high carbon prices stemming from poor liquidity in the offset market, oil major Chevron has told the Climate Change Authority (CCA).
Read MoreAustralia offset issuance steady at 228k, with little new supply to secondary market
Australia’s Clean Energy Regulator issued 228,473 new carbon credits this week, with all recipients under contract with the Emissions Reduction Fund and leaving no fresh supply for the secondary market.
Read MoreAustralian minister attacks industry for forming plans to tackle emissions
Australian Resources Minister Matt Canavan on Thursday attacked the energy sector over reports that major emitters are discussing amongst themselves how to regulate greenhouse gas emissions in the absence of a government policy.
Read MoreACCU prices seen steady despite increased demand due to rising emissions
Australia’s rising emissions could add to carbon credit demand from emitters regulated by the Safeguard Mechanism, but a repeat of last year’s price spike is unlikely as the market is better prepared this year, according to an expert.
Read MoreAustralia’s NT to see 40% emissions rise from major Inpex LNG project
When Japan-headquartered oil firm Inpex launches the two tranches of its Ichthys gas field this year and next, Australia’s Northern Territory will see its annual GHG emissions rise by over 40%, putting the nation further off track to meet its Paris Agreement obligations.
Read MoreBig forest projects push up Australia’s weekly offset issuance to 300k
Australia’s Clean Energy Regulator doled out 297,582 carbon credits this week as big issuances to some forest projects pushed volumes up above average levels.
Read MoreAustralia sets CO2e cap for Shell’s Prelude floating LNG platform
Australia’s Clean Energy Regulator has set an annual emissions cap for Shell’s Prelude project under the Safeguard Mechanism, but the world’s second-biggest floating LNG platform will still bump up the nation’s greenhouse gas emissions by nearly 3 MtCO2e annually.
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