Malaysia sets legislation table date for CCS
Malaysia has put a firm date on getting more carbon capture and storage (CCS) legislation into parliament, progressing the practice and giving more investment certainty to an increasingly long line of international oil companies willing to partner with state oiler Petronas to store millions of tonnes of CO2 in offshore spaces.
Read MoreVietnam state oil company plans CCS carbon credits
Vietnam’s state oiler PetroVietnam is looking to earn carbon credits for carbon capture and storage (CCS) work that would largely utilise its existing assets in addition to its tree planting efforts of recent years.
Read MoreIndonesia expands CCS plans with US, Korean oil giants
Indonesia is expanding its carbon capture and storage (CCS) plans after its state oil company signed an agreement with US oil giant ExxonMobil and South Korea’s KNOC, while the former two also signed another agreement to develop a CCS ‘hub’ in the Sunda and Asri basins.
Read MoreEnvironment groups lash Australian govt’s lack of cash for nature in latest budget
Australia’s 2024 budget arrived late Tuesday delivering a A$9.3 billion ($6.1 bln) surplus and is spending big to drive mining and clean energy, but has been attacked for its lack of attention to the protection of nature despite cash of over A$300 million offered.
Read MoreAustralian budget delivers ACCU cash, huge tax incentives for minerals, hydrogen
Australia’s budget will see another A$48 million ($31.7 mln) for reforms to the Australian Carbon Credit Unit (ACCU) scheme, in addition to billions of dollars in tax credits for critical minerals and green hydrogen development and another A$41 mln for a nature repair market, Treasurer Jim Chalmers announced on Tuesday.
Read MoreLaos consults on upcoming Article 6 carbon laws
After issuing its draft decree on its nascent Article 6-linked carbon market last month, Laos is now holding a consultation on the subject for major stakeholders.
Read MoreCost of compensating coal loss in giant economies higher than current existing climate finance, report finds
Phasing out coal in the world’s two most populous nations with the kind of financial support offered to coal-dependent communities in Europe and Asia would cost 10 times as much and exceed current international climate financing, a study has found.
Read MoreIslamic finance group, Saudi firm sign Maldives blue carbon partnership
An Islamic finance group has teamed up with a Saudi Arabian carbon specialist firm to explore the potential for reducing emissions and earning carbon credits from the vast seagrass meadows and mangrove forests of the Maldives.
Read MoreMethane slashing rice tech startup wins Series A funding
A sustainable rice platform has raised $14 million in Series A funding for improvement of its measuring, reporting, and verification (MRV) technology and its expansion into Southeast Asia, with a focus on Vietnam and Indonesia.
Read MoreLaos to develop massive carbon project with private partner
Laos has announced plans for a major nature-based solution carbon project spanning 5% of its land mass that could cut CO2 emissions by 1.4 million tonnes per year.
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