Global carbon emissions trading revenues rise 17% to record $74 bln in 2023 -report
A total of more than $74 billion was raised from 36 carbon emissions trading systems last year, up from $63 bln the year before, with strong momentum building for new mechanisms in emerging economies, according to research published Wednesday.
Read MoreSBTi poised to validate voluntary carbon credit use for corporate Scope 3 emissions goals
The Science Based Targets initiative (SBTi) has decided that voluntary carbon credits may be used to offset corporate Scope 3 emissions, the body said Tuesday, it what should provide a significant boost for offset demand.
Read MoreNZ Market: NZU price inches lower as market has lost its floor, companies join ag emissions partnership with govt
The NZU price has fallen 6% this week, with market participants saying there is nothing stopping it from sinking lower as a result of weak demand and a lack of policy direction coming from the government.
Read MoreNew Zealand may be justified to strengthen 2050 target, Climate Change Commission says
New Zealand’s Climate Change Commission (CCC) launched a consultation on Monday to assess the country’s emissions budgets, saying key circumstances had changed that could mean its 2050 target should be bolstered.
Read MoreNZ govt-appointed review on methane targets decried as ‘dangerous duplication’
The New Zealand government’s independent review of the country’s methane science and targets has been criticised by the Green Party, pointing out it is duplicating work already being carried out by the Climate Change Commission (CCC).
Read MoreAustralian low-emissions wood pellet producer secures 30-year lease for NZ facility
An Australian company has secured a 30-year lease agreement in New Zealand where it intends to build a NZ$300 mln ($180 mln) plant producing wood pellets that when burned emits 95% less carbon than coal.
Read MoreIntegrity Council approves three voluntary carbon programmes for CCP eligibility
Gold Standard, ACR, and Climate Action Reserve (CAR) have been given the green light by the governing board of the Integrity Council for Voluntary Carbon Markets (ICVCM), marking a step towards the labelling of credits issued via their methodologies with the Core Carbon Principles (CCP) stamp, while Verra, ART TREES, Social Carbon, and Isometric will be assessed by May at the latest.
Read MoreCORRECTION – Glut of surplus voluntary carbon credits from big four standards hits almost 800 mln
The glut of available credits in the voluntary carbon market started to grow again in March to leave the surplus close to 800 million credits from across the big four standard bodies, according to Carbon Pulse VCM Portal data.
Read MoreCommonwealth’s carbon tax law model aims to help countries price polluters
The Commonwealth of Nations is looking to help member countries implement a carbon tax based on a model law designed to make it easy to administer, ensure a just transition, and reduce the impact on low-income and vulnerable groups.
Read MoreNZ Market: Q1 auction drives new secondary market volume record
The New Zealand ETS saw a new volume record in the secondary market thanks to the surge in trading activity in the lead up to and aftermath of last month’s NZU auction, a broker told Carbon Pulse Tuesday.
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