- Thu 10:43As Article 6 gains traction, a question emerges – is it acceptable that the same permanent CDR credit can be simultaneously co-claimed by a corporation and nation, without the need for a corresponding adjustment? In a new working paper, carbon market experts at the University of Oxford, Nasdaq, and AFRY Management Consulting, argue that yes, co-claiming for neutralisation ends is legitimate providing three additional principles are met.
- Thu 10:40Governments and standard-setters should exempt permanent carbon removals from burdensome international accounting rules, with stakeholders warning that current frameworks risk stalling investment in technologies essential to meeting global net zero goals.
- Thu 09:00An engineered carbon removal (CDR) standard and registry is offering project developers access to finance that will turn offtake revenue into upfront cash, after striking a deal with a Google Ventures-backed carbon removal intelligence platform.
- Thu 08:28New partnership - Indonesia’s state-owned company Pertamina NRE has subscribed to a 20% share in Philippine-based Citicore Renewables (CREC) at an estimated value of around $120 mln, according to a statement released Thursday. This also marks Pertamina NRE’s first investment in the Philippines and its entry to the country’s renewable energy sector, the statement said. The two companies said they will explore renewable energy investments in Indonesia, including the possibility for new project development and collaboration on the creation and trading of carbon credits.
- Thu 08:12Malaysia’s first auction of technology-based carbon credits cleared at RM 39.60 ($8.30) this week, surpassing the reserve price of RM 36 and signalling emerging market appetite for locally generated credits.
- Thu 06:52Plant more - Farmers in Prayagraj district of Uttar Pradesh, India's most populous state, have been included in the third phase of the state's carbon credit programme, Hindustan Times reported. The programme encourages cultivation of fast-growing species like poplar and neem, with the state government buying credits at $5.80 per tonne of CO2 sequestered every five years. To qualify, farmers must plant at least 25 trees and register their land with the forest department. A total of $24 mln in incentives is expected to be disbursed to over 25,000 farmers by 2026, officials said.
- Thu 05:35Four New Zealand generators have signed a non-binding term sheet to establish a strategic energy reserve centered on the 1200-MW Huntly power station, the largest coal-fired power plant in the country.
- Thu 05:00Insufficient government action to strengthen 2030 climate goals and submit ambitious 2035 targets is placing the Paris Agreement’s 1.5C warming limit at significant risk of long-term overshoot, according to a new assessment from a green group.
- Thu 04:28Foray – South Korean project developer Ecobio has teamed up with the government of Karakalpakstan, an autonomous republic of Uzbekistan, to promote GHG reduction projects based on waste resources and biogas energy development, according to Maeil Business Newspaper. They will work to commercialise the production of biogas using organic waste in Nukus, including livestock manure and agricultural by-products, secure a renewable energy supply chain, and expand their carbon credit business.
- Thu 04:26Power of tech – Seoul-based Global Green Growth Institute (GGGI) and South Korea's science ministry have signed a MoU to deepen international cooperation on climate change response through climate tech solutions, they announced Thursday. The two parties aim to establish a framework for leveraging Korea’s climate technologies and advance the deployment and scaling of public climate technologies in GGGI’s member states and partners. GGGI is also working with the South Korean government to develop a model framework and project methodologies for a high-integrity global voluntary carbon market aligned with the Paris Agreement’s Article 6.
- Thu 03:56Climate costs – Extreme weather events due to climate change will cost Australians A$8.7 bln ($5.6 bln) annually by 2050 unless action is taken now to address climate risks, according to a report by the country’s Climate Change Authority, released Thursday. Disasters in 2025 already have cost A$2.2 bln, the report said, with annual costs currently estimated to be around A$4 bln. Every dollar invested in reducing climate risk can avoid up to A$11 of recovery cost, the report said. The authority called on the government to make its forthcoming inaugural National Adaptation Plan a regular, legislated government responsibility, and to make appropriate investments in infrastructure and services, as well as ensure standards, regulations, and laws are suitable for a changing climate.
- Thu 03:30Mine craft – Mining firms and developers are willing to accept tougher conservations standards in exchange for a more efficient approvals process, AFR reported Australia’s environment minister Murray Watt as saying on Thursday. The minister reportedly said reforms to the Environment Protection and Biodiversity Conservation Act are linked with the re-elected Labor government’s productivity push, and that mining companies are ready to compromise. The EPBC reforms make up the third tranche of the so-called nature positive reforms, while the delayed second tranche – to establish federal environmental protection and information-gathering agencies – will also be revived, having been put on hold before the May 3 election.
- Thu 01:01China's clean energy industries have the potential to double in value by 2035, but clear policy guidance is needed to unlock the sector's full potential, according to a new report.
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