ANALYSIS: London Protocol amendment ratification takes effect in Australia, allowing for transboundary CCS
Australia’s ratification of a key amendment to the London Protocol went into effect Thursday allowing the shipping transport of CO2 between nations, meaning its plans to become a regional hub for an emerging carbon capture and storage (CCS) industry is one step closer, but more is needed to provide the kind of policy certainty that secures investment and carbon markets are seen unlikely to play a material role in financially de-risking projects.
Read MoreAustralian bank cuts fossil funding, but accused of leaving “giant” loophole
The third Climate Report released Thursday by one of Australia’s top four banks showed it has cut more money for fossil fuels developers, but an activist shareholder group said it still has loopholes.
Read MoreAU Market: ACCU volumes surge as options drive derivatives market
Volumes in Australia’s compliance credit market are on track to beat last year’s by more than a third, and in October recorded its third-highest amount of trade of any month at 3.6 million Australian Carbon Credit Units (ACCUs), according to a report released Thursday.
Read MorePNG relents on COP29 delegation but will still “liquidate” own forests without finance, PM warns
Papua New Guinea will send a delegation to COP29 in Azerbaijan this month after first its prime minister and then its foreign minister had said it would not as a protest against the lack of climate finance for maintaining its vast carbon sink forests.
Read MoreAU Market: ACCUs breach A$40, continue upward as host of factors puts fire under the market
Spot Australian Carbon Credit Units (ACCUs) on Tuesday burst through the A$40 ($26.40) mark, trading as high as A$40.75 – a 4.5% increase on the previous day’s closing price – amid bullish sentiment.
Read MoreCIX to publish carbon ratings on-site to aid trade
Singapore-based Climate Impact X (CIX) announced Monday it will collaborate with one of the market’s carbon ratings agencies to bring greater transparency to the market via a new ratings system on its trading platform.
Read MoreNine Vietnamese projects approved for JCM
Nine Vietnamese carbon credit projects have been approved for Japan’s Joint Crediting Mechanism (JCM) after the latest meeting of the Joint Committee for the Implementation of the JCM in Hanoi last week, the first new approvals under the scheme in the Southeast Asian country for five years.
Read MoreKorean PM unveils Hydrogen City plan, promises to become leader in liquid hydrogen shipping
South Korea has demarcated three areas for hydrogen development to support the clean fuel’s development as part of its Hydrogen Cities 2.0, Prime Minister Han Duck-soo confirmed Friday.
Read MorePNG closer to carbon market, confirms COP29 boycott
Papua New Guinea is closer to a carbon market but is waiting on a few key steps, a senior official said this week, as news comes the nation has confirmed it will boycott this year’s COP29 summit in Baku, Azerbaijan.
Read MoreAustralian junior discovers rare element used in fusion energy
A tiny exploration company betting on finding native hydrogen deep in the South Australia desert has found an even more valuable co-located gas rarely found on Earth that is essential to nuclear fusion.
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