Under scrutiny - South Korea should re-examine the quality standards and verification systems for international carbon credits used under its national ETS, as credits generated from a controversial cookstove project in Myanmar have been utilised by Korean companies for compliance, environmental group Plan 1.5 urged. Companies such as Korea Electric Power Corporation, SK Group, and Industrial Bank of Korea, have offset their emissions by purchasing credits generated by households literally in the firing line amidst the ongoing conflict in the Southeast Asian country, according to a new report by the non-profit.  

Battery boost - New South Wales' Energy Security Corporation (ESC) will commit A$100 mln ($70 mln) to rollout a battery platform across Sydney, Newcastle, and the Hunter Central Coast to strengthen electricity reliability as coal-fired power retires, it announced. The investment will support the construction of a battery network expected to reach up to 1 GW of capacity by 2031, the state government said, with the money to support the construction of four batteries. The ESC is designed to bring forward projects in parts of the grid where timing and location are critical for the energy transition, as the state's largest coal-fired power station, Origin Energy's Eraring, is set to retire by 2029.

RGGI Allowance (RGA) futures largely settled above the $40 mark during the last week according to data on ICE, as traders expect relative price stagnancy in the absence of expected market interventions from Virginia's re-entry and affordability measures signalled by the administrator.

A US-based developer cancelled a biofuels project planned in central Louisiana, citing uncertainty in financing, regulatory, and carbon capture aspects of the projects, along with a “slower-than-expected market adoption” of sustainable marine fuels.