Biomethane only set to grow, but policy and better prices needed -consultancy

Published 08:55 on October 18, 2024  /  Last updated at 09:54 on October 18, 2024  / /  Americas, Asia Pacific, EMEA, International

Biomethane could seriously help decarbonise energy and the world’s gas supply, given it is considered a low-carbon source on a net lifecycle basis, but policy, incentives, and pricing need to improve, an energy consultancy said this week.

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Australian CCS project set to start earning ACCUs

Published 09:50 on October 17, 2024  /  Last updated at 03:42 on October 18, 2024  / and /  Asia Pacific, Australia

Australia’s second-largest carbon capture and storage (CCS) project has started up in the remote desert of the Cooper Basin and is set to earn 250,000 Australian Carbon Credit Units (ACCUs) by the end of the year.

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Electricity demand set to rise, but renewable installation must keep pace, flagship IEA report warns

Published 13:22 on October 16, 2024  /  Last updated at 13:22 on October 16, 2024  / /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International

Low-emissions technology, both new renewables and recently resurgent nuclear, will generate half the world’s power demand by 2030, yet without investment in electricity grids in particular, global warming is headed for 2.4C above pre-industrial temperatures by the end of the century, according to the International Energy Agency’s (IEA’s) World Energy Outlook (WEO) on Wednesday. 

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Solomons to design carbon trade policy, plans stakeholder consultation soon

Published 05:34 on October 16, 2024  /  Last updated at 05:34 on October 16, 2024  / /  Asia Pacific, Other APAC, Voluntary

The Pacific nation of the Solomon Islands has launched a carbon trading policy project with help from the Global Green Growth Institute (GGGI) and the New Zealand and Irish governments.

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CCS capacity ramping up, NDCs may drive further growth, says report

Published 10:30 on October 15, 2024  /  Last updated at 10:30 on October 15, 2024  / /  Americas, Asia Pacific, Australia, EMEA, International, Paris Article 6

There are now 50 carbon capture and storage (CCS) facilities operating across the world and another 628 in various stages of development, according to a report released Tuesday, with the inclusion of the technology in national UN climate strategies likely to drive further expansion.

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LNG ship building outpaces gas demand, not compliant even with most conservative climate scenario, report says

Published 13:18 on October 14, 2024  /  Last updated at 13:18 on October 14, 2024  / /  Asia Pacific, Australia, International, Shipping, South Korea

The ‘golden age’ of gas and the expanding trade in LNG has led to a glut of carriers being built that is incompatible with even the most conservative climate outlook from the International Energy Agency, a think tank said Monday.

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Satellite data tool finds methane leaks could be higher than reported in Australia

Published 14:46 on October 9, 2024  /  Last updated at 14:46 on October 9, 2024  / /  Asia Pacific, Australia

Emissions from 20 methane leak hotspots could be twice the official number, according to a Canberra-based think tank that has examined the sites using a new satellite measuring tool offering granularity past the self reporting required of emitters under Australian law.

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Renewables ramp up beyond policy plans but won’t hit COP28 target, IEA says

Published 10:57 on October 9, 2024  /  Last updated at 10:57 on October 9, 2024  / /  Americas, Asia Pacific, EMEA, International

Renewable energy growth will be swift and large but still fall short of the commitment made at COP28 to triple penetration by the end of the decade even as it outpaces nations’ current ambitions, the International Energy Agency (IEA) said Wednesday in a renewables report.

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FEATURE: New Zealand looks to bring back gas, but challenges abound

Published 13:23 on October 8, 2024  /  Last updated at 13:23 on October 8, 2024  / /  Asia Pacific, New Zealand

A spike in the electricity price at the end of August in New Zealand forced an urgent review of the power sector and helped hasten a possible return of gas, via reversing a ban on new exploration permits put in place in 2018 by the then-Jacinda Ardern led Labour government.

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Australian climate tech VC firm raises A$100 mln in new round

Published 12:53 on October 8, 2024  /  Last updated at 12:53 on October 8, 2024  / /  Asia Pacific, Australia

An Australian climate tech company has raised A$100 million ($67 mln) from the nation’s oldest bank and its clean energy financier for investment into a range of decarbonisation areas, it said Tuesday.

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