BRIEFING: ASX Environmental Futures contracts will be a tale of two credit types, carbon market participants say

Published 07:25 on July 22, 2024  /  Last updated at 07:25 on July 22, 2024  / Mark Tilly /  Asia Pacific, Australia, New Zealand

The Australian Securities Exchange (ASX) is set to launch futures contracts for the Australian and New Zealand carbon markets later this month, however participants say the level of participation and interest will vary considerably between the two jurisdictions.

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AU Market: HIR ACCUs lose market share as sellers wait for better prices, Safeguard demand

Published 09:30 on July 18, 2024  /  Last updated at 09:30 on July 18, 2024  / Mark Tilly /  Asia Pacific, Australia

There has been a significant decline in the proportion of human-induced regeneration (HIR) ACCUs transacted in the Australia’s brokered carbon market, according to recent data.

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Australia’s New South Wales announces overhaul to state’s biodiversity offsetting scheme

Published 09:36 on July 17, 2024  /  Last updated at 09:36 on July 17, 2024  / Mark Tilly /  Asia Pacific, Australia, Biodiversity

The New South Wales government has announced major reforms to its biodiversity conservation laws in response to the recent Henry review, including reforming the state’s nature offsets scheme.

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NZ govt’s draft Emission Reduction Plan lacks the ambition and detail needed to restore confidence, opposition, experts say

Published 07:13 on July 17, 2024  /  Last updated at 07:13 on July 17, 2024  / Mark Tilly /  Asia Pacific, New Zealand

The New Zealand opposition has come out swinging against the government’s draft second Emissions Reduction Plan, while experts say the plan places too much emphasis on reducing ‘net’ rather than gross greenhouse gas emissions.

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New Zealand govt sharply revises down expected future NZU price in emissions plan

Published 02:50 on July 17, 2024  /  Last updated at 02:54 on July 17, 2024  / Mark Tilly /  Asia Pacific, New Zealand

Long-term prices in New Zealand’s Emissions Trading Scheme (ETS) could sit at just NZ$50 ($30.35) as the government intends to pursue a least-cost pathway to achieving its climate goals, it said in the draft second Emissions Reduction Plan (ERP) published on Wednesday.

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UK commodity house confirms launch of New Zealand carbon trading platform

Published 13:01 on July 16, 2024  /  Last updated at 06:23 on July 16, 2024  / Mark Tilly /  Asia Pacific, Bavardage, New Zealand

A UK trading house has officially announced its presence in New Zealand, with plans to launch carbon trading platform in the country.

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NZ Market: Healthy NZU volumes traded, but several hurdles still to clear, participants say

Published 07:14 on July 16, 2024  /  Last updated at 07:14 on July 16, 2024  / Mark Tilly /  Asia Pacific, New Zealand

New Zealand’s carbon market has seen robust volumes of NZUs change hands in recent weeks, however the market is still in a wait-and-see mindset ahead of key government decisions and announcements.

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CP Daily: Monday July 15, 2024

Published 01:52 on July 16, 2024  /  Last updated at 11:08 on July 16, 2024  / Mark Tilly /  Newsletters

A daily summary of our news plus bite-sized updates from around the world.

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ERAC closes first interim process for ACCU method ideas

Published 06:58 on July 15, 2024  /  Last updated at 07:24 on July 23, 2024  / Mark Tilly /  Asia Pacific, Australia

Australia’s Emissions Reduction Assurance Committee (ERAC) has wrapped up its first expression of interest (EOI) period seeking new methods to generate Australian Carbon Credit Units (ACCUs), with 43 method ideas put forward by stakeholders.

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Australian Safeguard facilities awarded A$91 mln to reduce emissions

Published 03:25 on July 12, 2024  /  Last updated at 03:25 on July 12, 2024  / Mark Tilly /  Asia Pacific, Australia

Heavy industrial facilities covered under Australia’s Safeguard Mechanism have been granted A$91 million ($61 mln) by the federal government to install new equipment to reduce carbon emissions.

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