NZ govt ignored officials’ advice not to ban climate torts, halt active litigation
Officials advised the New Zealand government against legislating to ban climate-related tort claims, newly released papers showed, while their analysis found that allowing courts to consider such claims against corporates could leave some with a higher standard than required under the country’s emissions trading scheme.
Read MoreClimate disclosures improving, but more focus needed on physical risks, says NZ regulator
Climate-related disclosures are maturing – including on GHG emissions reporting – but more work is needed on specific physical risk disclosures, data, and better links between risks and transition planning, said New Zealand’s Financial Markets Authority (FMA) on Tuesday, following its evaluation of the country’s second year of reporting.
Read MoreNZ govt gas loans, LNG plans breach trade deals -report
New Zealand’s plans to build an LNG import terminal and its co-investment fund for new gas fields meet the definition of fossil fuel subsidies, leaving the country in breach of trade deals, said a report released a day after the government announced a loan scheme to help businesses switch away from gas.
Read MoreBHP doubles down on climate goals, pushes back on reports it’s abandoning net zero ambitions
Australia-based mining giant BHP has restated its climate ambitions and efforts to meet its goals, pushing back on media reports to the contrary.
Read MoreIwi leader accuses NZ govt, emitters of ‘coordinated campaign’ to scupper climate litigation
The climate activist and iwi leader suing some of New Zealand’s biggest emitters for climate damage has accused the government of covering up lobbying by some of the defendants, following the release of briefings given to the prime minister’s office outlining legislative changes to ban such litigation.
Read MoreBRIEFING: Australian carbon market comes of age, but grapples with future direction
Fifteen years in, the Australian carbon market is becoming more vibrant, more active, and more mature. But as stakeholders prepare for a review of the Safeguard Mechanism, and with legislative changes to the Australian Carbon Credit Unit (ACCU) Scheme afoot, its future evolution is still to be determined.
Read MoreINTERVIEW: CORSIA carbon credit supply and demand must grow ‘in lock step’ to scale market
The UN’s international aviation offsetting scheme is slowly growing, but has the potential to take off quickly if supply and demand fall into lockstep, the founder of a carbon markets analysis company told Carbon Pulse.
Read MoreINTERVIEW: Clarity on role of carbon market for Australia’s long-term goals needed, says industry body CEO
Upcoming reviews of Australia’s Safeguard Mechanism and the Australian Carbon Credit Unit (ACCU) Scheme need to ensure that their role in achieving the country’s long-term climate goals is clear, said the CEO of the Carbon Market Institute (CMI).
Read MoreUPDATE – Tech giant issues call for methane certificates
A US-based tech company has issued a request for proposals to procure low-methane intensity certificates, to offset increased natural gas emissions due to data centre build-out.
Read MoreAustralian govt taps forestry company to lead ACCU method remake
Forestry company Midway has been asked to lead the remake of the reforestation and afforestation methodology for the Australian Carbon Credit Unit (ACCU) Scheme, Assistant Minister for Climate Change and Energy Josh Wilson announced on Wednesday.
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