Exploring carbon pricing, including cap-and-trade systems, was flagged as a priority activity in a new climate finance strategy for the Pacific Islands – with a goal to initiate carbon pricing pilots in the next four years.

Having a Browse – The Australian government has opened the public consultation period for Woodside Energy's Browse carbon capture and storage project. Part of the large Browse-to-NWS gas development, the CCS project is expected to capture and store some 3-4 MtCO2 per year and inject it into the Calliance Storage Formation. According to the proposal, the gas project is expected to produce around 80 Mt of reservoir CO2 over its lifetime, with the CCS project expected to capture 85% of that reservoir CO2 at a minimum, after the first year of operations, enabling a net reduction of GHG emissions by 53 Mt, or 47%. The project was referred to for public comment under federal environmental laws after a reconsideration request was accepted by the minister. The comment period is open until July 24.

Pre-COP goals – Fiji’s climate minister, Lynda Tabuya, has set out the Pacific region’s four priorities for the Pre-COP31 summit – which the country is hosting Oct. 5-8 – including keeping the 1.5C goal alive, improving access to climate finance, enhancing focus on the climate-oceans nexus, and amplifying Pacific leadership and voices. She also stressed the importance of the private sector in driving investment and innovation for resilience measures, and in supporting Fiji’s climate change mitigation and adaptation plans, and called for a whole-of-society approach to prepare for the October meeting. As part of the COP31 hosting agreement between Australia and Turkiye, it was agreed that the Pacific would host the Pre-COP, with Fiji selected in February as the host and a dedicated leaders gathering in Tuvalu. As well, the November talks in Antalya will feature a session to raise pledges for the Pacific Reslience Facility, the first Pacific-owned and -led climate finance vehicle.

An environmental package proposed in Kazakhstan is poised to implement the country’s carbon offset mechanisms and Article 6 provisions, provided that the country’s reformed parliamentary body advances it.