FOI documents confirm Woodside plans for CCS at vast gas field

Published 08:37 on February 26, 2024  /  Last updated at 09:14 on February 26, 2024  / Helen Clark /  Asia Pacific, Australia

Woodside Energy plans to reduce the carbon footprint of its huge Browse gas project by 47% and cut to near-nothing the use of carbon offsets, formerly its favoured way to meet its Australian climate obligations. Read More

CBAM to have limited impact on emissions, but greatly affect trade for developing Asia, ADB says

Published 06:50 on February 26, 2024  /  Last updated at 08:58 on February 26, 2024  / Chia-Erh Kuo /  Asia Pacific, Carbon Taxes, CBAM, China, EMEA, International, Other APAC

The roll-out of the EU's carbon border adjustment mechanism (CBAM) will help address the risk of carbon leakage, but it will have limited impact on global emissions reductions while significantly reducing exports into the European bloc from some Asian sub-regions, the Asian Development Bank (ADB) has found. Read More

Australian gas giant signs on green steel hopeful for CCS

Published 04:20 on February 26, 2024  /  Last updated at 09:05 on February 26, 2024  / Helen Clark /  Asia Pacific, Australia

Santos has signed its first local customer for its upcoming onshore Moomba carbon capture and storage (CCS) project in the South Australian desert, after a slew of non-binding agreements with Japanese conglomerates last year. Read More

Australian carbon exchange will not impede OTC market, Clean Energy Regulator says

Published 23:19 on February 25, 2024  /  Last updated at 23:19 on February 25, 2024  / Mark Tilly /  Asia Pacific, Australia

A range of new carbon market platforms and products promises to deliver increased “liquidity, depth, and scale” to Australian participants, but will not come at the expense of over-the-counter markets, the Clean Energy Regulator told a webinar Friday. Read More

Threat of foreign energy dependence, influence adds urgency to Western Balkans joining EU ETS, think tank warns

Published 16:24 on February 23, 2024  /  Last updated at 16:26 on February 23, 2024  / Rebecca Gualandi /  EMEA, EU ETS, International

Extending the EU ETS to the Western Balkans’ power sector could enable a faster coal phase-out while also keeping possible Russian and Chinese influence at bay, according to a European think tank. Read More

Speculators continue to take advantage of record CCA, RGGI prices, compliance builds North American carbon holdings

Published 23:11 on February 23, 2024  /  Last updated at 23:11 on February 23, 2024  / Graham Gibson /  Americas, Canada, US

Financial players continued to take profits across North American carbon markets, as opposed to regulated entities that built net length in California Carbon Allowances (CCAs) and RGGI allowances (RGAs), while Washington Carbon Allowances (WCAs) remain out of favour in both groups, weekly data from the US Commodities and Futures Trading Commission (CFTC) release Friday showed. Read More

Construction of pivotal UK nuclear plant in near horizon, with government sign-off and financing -webinar

Published 18:15 on February 23, 2024  /  Last updated at 18:17 on February 23, 2024  / Bryony Collins /  EMEA, International

Construction of the Sizewell C nuclear project in southeast England could start later this year, provided that the government gives the greenlight and financial close is reached, said executives on a webinar about the UK’s nuclear agenda on Friday. Read More

European Commission scolds EU member states for inadequate 2030 climate plans

Published 16:06 on February 23, 2024  /  Last updated at 16:51 on February 23, 2024  / Emanuela Barbiroglio /  Climate Talks, EMEA, EU ETS

Some European Union member states must correct their policies if they are to reach the bloc's climate targets to cut net greenhouse gas emissions at least 55% by 2030 compared to 1990 levels, according to a European Commission assessment. Read More

Green group files criminal complaint against large German oil and gas firm for misreporting emissions

Published 15:35 on February 23, 2024  /  Last updated at 16:58 on February 23, 2024  / Paddy Gourlay /  EMEA, EU ETS, International, Nature-based, Voluntary

A criminal complaint was filed against Germany's largest oil and gas producer on Thursday because of “suspicion of false and concealing information” in its previous year's annual report about the level of carbon emissions. Read More

China ETS could cut costs by 30% with auctions -report

Published 08:59 on February 23, 2024  /  Last updated at 01:33 on February 26, 2024  / Chia-Erh Kuo /  Asia Pacific, China

Introducing an auctioning mechanism can lower the economic costs of China’s emissions trading scheme by at least 30% and reduce distortions associated with pre-existing taxes, a report has found. Read More

Euro Markets: EUAs post 8.7% weekly loss, hit new 31-month low as outlook remains bearish

Published 17:20 on February 23, 2024  /  Last updated at 18:45 on February 23, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

EU carbon prices settled down 8.7% from the previous Friday, their largest five-day loss in six weeks and setting yet another 31-month low, as selling pressure in both carbon and natural gas continued to steadily weigh on the markets amid little sign of any let-up in the decline, while a bank analyst lowered their end-of-year price forecast. Read More

Human population density does not directly impact mangrove carbon stocks -study

Published 13:06 on February 23, 2024  /  Last updated at 14:04 on February 23, 2024  / Nikita Pandey /  Africa, Americas, Asia Pacific, Australia, Nature-based, Voluntary

Human population density has a “negative association” with carbon stocks present in mangrove soil and is therefore not a good measure of understanding the effects of mankind on these ecosystems, research has found. Read More

Investors should pressure large advertising companies to refuse to work for environmentally damaging clients -think tank

Published 13:00 on February 23, 2024  /  Last updated at 11:23 on February 23, 2024  / Bryony Collins /  Americas, Asia Pacific, Australia, EMEA, International, Japan, Middle East, US, Voluntary

Investors in publicly listed advertising holding companies should hold them to greater account over their carbon-intensive clients, says a report about the environmental impact of the industry. Read More

PREVIEW: Biodiversity to take centre stage at UN Environment Assembly amid calls for urgent action

Published 09:25 on February 23, 2024  /  Last updated at 09:25 on February 23, 2024  / Sergio Colombo /  Americas, Asia Pacific, Biodiversity, EMEA, International

Hastening the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF) through updating national strategies, mobilising nature finance, and enhancing cooperation between biodiversity-related conventions will be among the core topics of discussion at the 6th UN Environment Assembly (UNEA) next week, as the world's top decision-making body on the environment gathers for the first time since the landmark agreement was sealed in 2022. Read More

CN Markets: CEA, CCER volumes continue to drop amid sluggish demand

Published 10:38 on February 23, 2024  /  Last updated at 10:38 on February 23, 2024  / Chia-Erh Kuo /  Asia Pacific, China

Trading in China’s carbon market has remained muted after the recent holiday with relatively low liquidity amid sluggish demand, even as the spot allowance price reached the highest level since the beginning of the year. Read More