China's Hebei to allocate 50 bln yuan for climate financing projects

Published 10:06 on November 29, 2022  /  Last updated at 10:06 on November 29, 2022  /  Asia Pacific, China  /  No Comments

The government of China's Hebei province, known as the country's steelmaking hub, has teamed up with a state-owned bank to provide financial support for the development of climate-related projects with a fund scale of 50 billion yuan ($6.98 bln) for the upcoming three years. Read More

Australia to hold consultation on Indo-Pacific Carbon Offset Scheme guidelines in 2023

Published 08:20 on November 29, 2022  /  Last updated at 08:23 on November 29, 2022  /  Australia, International, Other APAC, Paris Article 6, Voluntary  /  No Comments

The Australian government plans to launch a consultation on the draft programme guidelines for its Indo-Pacific Carbon Offset Scheme (IPCOS) next year, as some market participants are lamenting its go-slow approach to the policy’s development. Read More

Carmaker forms blue carbon alliance with South Korean govt

Published 03:38 on November 29, 2022  /  Last updated at 03:38 on November 29, 2022  /  Asia Pacific, Nature-based, South Korea, Voluntary  /  No Comments

A domestic carmaker has agreed to work with South Korea’s Ministry of Maritime Affairs and Fisheries to develop and promote blue carbon projects in a bid to sequester CO2 and protect biodiversity. Read More

US forest carbon firm lays off nearly half its workforce amid weak voluntary demand, buyer cynicism

Published 22:45 on November 28, 2022  /  Last updated at 01:29 on November 29, 2022  /  Americas, Nature-based, US, Voluntary  /  No Comments

A US-based forest carbon tech firm has laid off nearly half of its workforce as a result of sluggish voluntary credit demand and widespread buyer cynicism surrounding nature-based solutions. Read More

New carbon credit marketplace aims to woo institutional investors

Published 00:01 on November 29, 2022  /  Last updated at 20:20 on November 28, 2022  /  EMEA, International, Voluntary  /  No Comments

A startup tech company that secured $28.5 million in its Series A funding round this month has teamed up with a project developer to build a blockchain-based carbon exchange, with plans to launch a new standardised nature-based product for its target audience of institutional investors. Read More

SPONSORED: Companies turning to futures to meet carbon reduction goals -CME

Published 23:30 on November 28, 2022  /  Last updated at 00:38 on November 29, 2022  /  Americas, Asia Pacific, Contributed Content, EMEA, International, Nature-based, Other APAC, Other Content, South & Central, US, Voluntary  /  No Comments

As the voluntary carbon offset market grows, price risk is becoming a bigger factor. “Having a clear price signal is important for companies, giving them the confidence to move forward.” Read More

VCM Report: Value of trades falls sharply amid bargain-hunting

Published 20:32 on November 28, 2022  /  Last updated at 23:27 on November 28, 2022  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, EMEA, Japan, Mexico, Middle East, Nature-based, New Zealand, South & Central, South Korea, US, Voluntary  /  No Comments

Prompt carbon credit prices edged lower over the past week, but the slight moves masked a much heavier bearish step identified by data aggregator AlliedOffsets, which flagged a slide in transactional value that likely reflects bargain hunting at the expense of fresher and more expensive vintages. Read More

Too much ‘hype’ around bioenergy CCS ahead of EU proposal, say campaigners

Published 17:44 on November 28, 2022  /  Last updated at 17:44 on November 28, 2022  /  EMEA  /  No Comments

The potential of carbon capture and storage bioenergy (BECCS) carbon removal projects is being inflated, campaigners said in a report published on Monday as Brussels prepares a proposal on how carbon removals can integrate into EU climate policy. Read More

Expected size of Innovation Fund critical to design of EU industry support schemes

Published 20:14 on November 28, 2022  /  Last updated at 20:14 on November 28, 2022  /  Africa, EMEA, EU ETS, International  /  No Comments

The European Commission is honing its support policies for clean hydrogen and other low-carbon solutions – with the first pilot Contract for Difference (CfD) expected next year – but uncertainty over the future volume of the Innovation Fund leaves questions hanging over the best design details. Read More

China releases spot power market trading draft for consultation

Published 08:45 on November 28, 2022  /  Last updated at 08:45 on November 28, 2022  /  Asia Pacific, China  /  No Comments

China's energy regulator on Friday issued a draft of trading regulations for the country's spot power market, a move considered crucial to make a transition towards market-based electricity pricing and improve the effectiveness of the national emissions trading scheme (ETS). Read More

RFS Market: RIN prices rise to 1.5-mth high amid refiner buying, imminent biofuel quotas

Published 18:01 on November 28, 2022  /  Last updated at 18:01 on November 28, 2022  /  Americas, RINs & LCFS, US  /  No Comments

US biofuel credit (RIN) values lifted on Monday to levels not seen since June 2021, as traders said steady demand from obligated parties and the imminent release of blending quotas for the US Renewable Fuel Standard (RFS) were driving prices higher. Read More

Euro Markets: EUAs erase early 2.5% loss after technical bounce to end marginally lower

Published 17:23 on November 28, 2022  /  Last updated at 17:31 on November 28, 2022  /  EMEA, EU ETS, UK ETS  /  No Comments

Carbon prices erased almost all their early losses on Monday after the market failed to break below key technical support and buyers re-entered the market, while energy prices also trimmed their losses after a weak start. Read More

Saudi power firm signs $7 bln agreement to develop green hydrogen in Thailand

Published 10:29 on November 28, 2022  /  Last updated at 10:29 on November 28, 2022  /  Asia Pacific, EMEA, Middle East, Other APAC  /  No Comments

Saudi Arabian energy company ACWA Power has signed a Memorandum of Understanding (MoU) with two state-owned Thai companies to launch a $7 billion deal to develop green hydrogen capacity in the Southeast Asian country for domestic use and exports, it announced over the weekend. Read More

CNOOC natural gas unit to develop forestry carbon sinks in Hainan

Published 10:11 on November 28, 2022  /  Last updated at 10:11 on November 28, 2022  /  Asia Pacific, China, Nature-based, Voluntary  /  No Comments

A natural gas subsidiary of state-owned China National Offshore Oil Corp. (CNOOC) has teamed up with a local government in Hainan province to jointly work on forestry carbon sink projects, as it prepares to get into the domestic offset market despite the years-long absence of national voluntary regulations. Read More

Singapore firm, certification agency to develop emissions performance rating system

Published 08:52 on November 28, 2022  /  Last updated at 08:52 on November 28, 2022  /  Asia Pacific, Other APAC  /  No Comments

A Singapore-based company has formed a partnership with a German certification provider to help companies measure their emissions and develop a rating system of their performance, they announced on Monday. Read More