Australian minister flags potential use of Asia-Pacific forest carbon credits
If Australia decides to use international carbon credits to meet its Paris target, forest offsets from the Asia-Pacific region might be among its target markets, according to Energy and Environment Minister Josh Frydenberg.
Read MoreWRI: What’s changing as countries turn INDCs into NDCs? Five early insights
Some countries aren’t waiting until 2020 to make changes to their national climate commitments. As countries ratify the Paris Agreement, some have decided to revise their INDCs and communicate the changes as part of their first NDCs. WRI provides a summary.
Read MoreVietnam prepares to slap CO2 targets on industry to meet Paris target
Vietnam is finalising a plan that will impose CO2 caps on all sectors of the economy and possibly on individual major emitters, the Ministry of Natural Resources and Environment (MONRE) said, though it remains unclear if the South East Asian nation will go for an emissions trading scheme or a carbon tax.
Read MoreSingapore parliament approves carbon tax
Singapore’s parliament on Tuesday approved the government’s new tax on carbon emissions, meaning from next year the city state will be the first Asian nation to implement a national tax on CO2 emissions.
Read MoreCambodia REDD project to share CO2 credit revenue with locals
The owners of a major REDD+ project in Cambodia have signed an agreement with 20 local villages to share the proceeds from carbon credit sales and help develop the communities.
Read MoreSoutheast Asian forest carbon credits too cheap to stop logging -study
Forest carbon credits issued under mechanisms such as REDD+ generate only a fraction of the prices Southeast Asian foresters can earn from the rubber industry, making the units inefficient in halting deforestation and cutting greenhouse gas emissions at current levels, a new study found.
Read MoreCarbon traders Virtuse move EU desk to Singapore, hire new trader
Carbon trading firm Virtuse has relocated its EU trading desk to Singapore and has hired a new trader to handle that market from Asia.
Read MoreHong Kong to launch world’s biggest sovereign green bond programme
Hong Kong will launch a HK$100 billion ($12.8 bln) green bond programme, the government said, making it the world’s biggest sovereign facility of its kind.
Read MoreGreen Climate Fund board approves over $1b in fresh spending
The board of the Green Climate Fund this week approved spending of over $900 million across 19 projects, including a large energy efficiency programme in Brazil and a private renewables scheme in India.
Read More