Transition credits will keep Asian coal plants alive longer, think tank warns
Transition credits used to pay for the early retirement of coal-fired power plants in Asia could increase emissions and derail efforts to build out cleaner forms of energy, two think tanks argued in a report published this week.
Read MoreAustralia’s Queensland set to keep coal running indefinitely, roadmap says
The Queensland state government plans to extend the life of its coal-fired power plants, use more gas, and cut funding for renewable energy, so as to better incentivise the private sector to step in, according to an energy roadmap published Friday.Â
Read MoreFEATURE: Scrap markets will drive steel sector’s shift to lower-emissions electric arc furnaces
Lower emissions steel produced in electric arc furnaces (EAFs) will make up a tiny fraction of annual steel output growth, however countries in Asia are already moving to shore up supplies of scrap steel as markets are expected to tighten, multiple market watchers have cautioned.
Read MoreWorld falling short of COP28 renewable targets, despite record growth -IEA
The world is at risk of missing the COP28 pledge to triple installed renewable capacity by 2030, even though it is on track to add more clean energy between 2025 and 2030 than the current combined electricity capacity of China, the EU and Japan, the International Energy Agency (IEA) said on Tuesday.
Read MoreSingapore signs its 10th Article 6 implementation agreement with Mongolia
Singapore and Mongolia have signed an implementation agreement on carbon credit collaboration via Article 6 of the Paris Agreement, making it the 10th agreement signed since the city-state’s first with Papua New Guinea at COP28 in Dubai in 2023.
Read MoreAnother Japanese steelmaker on the emissions reduction road to nowhere
Japan’s steelmakers claim to be making steady progress on decarbonisation, yet critics argue the measures are modest at best and obscure a rise in emissions intensity, with emissions from non-operated foreign assets left out of short-term targets.
Read MoreCCS could add billions of tonnes of CO2 to Asia’s climate bill, think tank warns
The Asia Pacific’s grand carbon capture, utilisation, and storage (CCS) plans may derail efforts to hit the Paris target of 1.5C, add a vast volumes more of greenhouses gases to the atmosphere, and prop up fossil use for decades, or even add to its emissions given the energy demands of capturing, transporting, and storing CO2, a think tank has warned.
Read MoreBRIEFING: Australia’s Net Zero plans include few policies and a lot of wishful thinking, experts warn
Australia’s recently announced Nationally Determined Contribution (NDC) has few announced tools to help it get there, save the Safeguard Mechanism, while the sector plans lack the policy backing to underpin the increased emissions reduction targets, experts have warned.Â
Read MoreJapanese steelmaker hits decarbonisation goals, on paper only -think tank
Japan’s steel sector continues its tentative steps towards decarbonisation but in the case of one giant’s sustainability report the wins are more a grab bag of on-paper riches than genuine, permanent emissions cuts, a think tank argued this week.
Read MoreCCS and DAC hopeful signs deal with German giant for capture tech trial
An Australian tech company has received its first commercial order for its CO2 collection tech which could lead to a wider deployment and eventual feedstock for the growing sustainable aviation fuel (SAF) industry, it announced.Â
Read More