Global buildings decarbonisation “stalled” despite efficiency gains, UNEP says
The global buildings sector is now 3.5 billion tonnes of CO2 off the trajectory needed to meet international net zero targets, with decarbonisation momentum “stalled”, according to a United Nations report released on Tuesday.
Read MoreAmazon pushes against carbon removals ‘groupthink’, says markets need reduction credits too
Amazon has pushed back against relying solely on carbon removals, a trend common among major corporate buyers, to instead focus on high-quality emissions reduction credits that it said were essential to scale voluntary markets.
Read MoreINTERVIEW: UNEP sees Article 6 supply wave building towards 2030
The first meaningful supply of carbon credits traded under the Paris Agreement’s Article 6 mechanism will only emerge closer to 2030, as countries build the accounting and regulatory infrastructure needed to authorise trades, according to two UNEP officials.
Read MoreBRIEFING: Asian transition credits could find home in compliance markets, but questions over additionality remain -IEA
Compliance carbon markets could become the biggest source of demand for transition credits in Asia’s coal transition, provided project developers can prove that early closures are genuinely additional amid falling renewable energy costs, the International Energy Agency (IEA) said in a report.
Read MoreIndia could remove 450 MtCO2 through biochar by 2030, claims paper
India has the potential to scale carbon removal from biochar to 450 million tonnes of CO2 annually by 2030, creating a $45 billion market largely from utilising a fraction of surplus agricultural residues, according to a report released Saturday.
Read MoreVietnam issues carbon market surveillance rules ahead of ETS pilot
Vietnam has issued a circular outlining market-surveillance architecture for domestic carbon trading, relying on its securities markets to detect and report abnormalities.
Read MoreUN climate chief hails China as climate leader, urges it to speed Asia coal phaseout
UN climate chief Simon Stiell on Thursday lauded China as a global climate leader and called on Beijing to help its region in phasing out coal amid mounting energy security challenges.
Read MoreAsia-Pacific banks still favour fossil fuels over clean energy -report
Clean energy investment across the Asia-Pacific region continues to fall behind fossil fuels, as banks and investors direct huge sums towards conventional energy supply, according to a report.
Read MoreUS non-profit taps startup to grow rice methane credit supply from India
A US-based climate non-profit on Wednesday said it has partnered with a South Asia-focused startup to scale carbon credits from rice methane abatement, as demand rises for projects targeting the potent greenhouse gas.
Read MoreSK Market: Monthly KAU auction clears higher again amid intensifying competition
South Korea’s monthly CO2 allowance auction continued to clear at higher prices in May, as emitters kept up bidding amid tightening supply expectations in the national emissions market.
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