BHP, major steelmakers to study CCUS hubs in Asia
Mining giant BHP is conducting an industry-led study on carbon capture, utilisation, and storage (CCUS) hubs across Asia in partnership with steelmakers and energy firms, it said Monday.
Read MoreCambodia’s third NDC pledges up to 55% emissions cut by 2035, will lean on carbon markets
Cambodia on Friday pledged to cut its greenhouse gas 2035 business-as-usual emission levels by more than half under its third Nationally Determined Contribution (NDC) if it receives international support, setting out a roadmap that will use carbon markets to bridge the funding gap.
Read MoreIndonesia says climate action by 2030 will cost $246 bln -media
Indonesia will need IDR 4,000 trillion ($246 billion) to meet its climate targets by 2030, the environment ministry said this week, warning of a financing gap and calling for greater international and private sector support.
Read MorePhilippines bamboo project first in Asia to be registered under Verra VM0047 methodology
Climate Impact Partners on Friday said it has registered Asia’s first project under Verra’s VM0047 afforestation, reforestation and revegetation (ARR) methodology, partnering with a Philippines-based engineered bamboo company to restore degraded land.
Read MoreIndia’s depleted soils could yield vast supply of carbon credits, developer claims
A white paper published Thursday said India’s depleted agricultural soils hold “high potential” as a source of carbon removal credits, claiming that modest improvements in soil organic carbon (SOC) could sequester billions of tonnes of CO2 while delivering co-benefits for farmers.
Read MoreANALYSIS: Vietnam’s ETS pilot to launch with many questions
Vietnam will launch the pilot phase of its emissions trading scheme this year, taking a step towards meeting climate commitments and navigating trade pressures from carbon regulations abroad, but faces steep challenges in readiness, infrastructure, and balancing its economic competitiveness, according to experts.
Read MoreANALYSIS: Indian ETS gears up, but faces structural tests ahead
India’s national compliance carbon market under the Carbon Credit Trading Scheme (CCTS) is estimated to become the third largest in the world after China and the EU, but complexity in design, lack of regulatory clarity, and a dearth of accredited verifiers may hamper early implementation and undermine price discovery, according to experts.
Read MoreID Market: Trading stays sluggish in July, recovery seen unlikely near-term
Activity on Indonesia’s national carbon exchange remained at a standstill in July, with only 35 tonnes of CO2e transacted across ten trades, up from just eight tonnes the previous month, with trading expected to remain subdued in the near-term.
Read MoreSingapore to develop carbon tax verification framework for petrochemical units
Singapore’s Economic Development Board (EDB) has issued a tender for consultancy services to develop a verification and accreditation (V&A) framework for carbon tax allowances, with a targeted focus on refinery and petrochemical cracker facilities.
Read MoreNature-based solutions can offset only fraction of emissions by 2100 -study
Restoring degraded ecosystems such as forests, grasslands, and wetlands could remove up to 97 billion tonnes of CO2 from the atmosphere by 2100, amounting to just 4-12% of projected emissions in the same time period, claims a study, which recommended focusing on deep emissions cuts instead.
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