Climeworks signs agreement with US firm to develop 1 Mt/year DAC and storage hub
Swiss direct air capture (DAC) technology firm Climeworks has signed a Memorandum of Understanding (MoU) with a US CO2 sequestration company to develop a DAC and storage hub in Louisiana that would permanently remove up to 1 million tonnes of CO2 per year by 2030, it has announced.
Read MoreSingapore-based tech company raises $1.5 mln in funding round for carbon trading marketplace
A Singapore-based climate tech company has closed a pre-seed fundraising round at $1.5 million, and will use the capital to scale its operations in Southeast Asia and accelerate the launch of a blockchain-based carbon trading marketplace in early 2023, it announced on Tuesday.
Read MoreSingapore signs bilateral Article 6-aligned carbon market agreement with Peru
Singapore and Peru signed a Memorandum of Understanding (MoU) on the sidelines of COP27 in Sharm el-Sheikh to collaborate on carbon markets in alignment with Article 6 guidelines, both countries have announced.
Read MoreAustralia awards A$29 mln in grants to boost soil carbon measurement technologies
The Australian government has awarded nearly A$29 million ($19.5 mln) in funding to farmers and land managers to make it easier for them to measure the amount of carbon in their soils, a joint statement from the ministers for climate change and agriculture announced on Friday.
Read MoreDecarbonising ammonia’s current uses key to realising its broader energy transition role, report says
Ammonia offers key decarbonising opportunities for sectors such as power generation and shipping in the longer term, but low carbon ammonia may remain an untapped market without strong policy support that focuses on lowering the emissions footprint of its current industrial uses, a report has found.
Read MoreCOP27: UAE’s green energy investor signs green hydrogen deal with Egypt as climate talks host seeks key supplier role
UAE green investment firm Masdar and two consortium partners have signed a framework agreement with a group of Egyptian state companies to develop a 2 GW green hydrogen production facility, adding to a series of deals the COP27 host has signed this week in an effort to boost its role as a green hydrogen supplier.
Read MoreG20 commitment to climate goals amid geopolitical uncertainty can set example for COP27, green groups say
G20 leaders agreed to pursue efforts to limit the global average temperature to 1.5C at this year’s summit in Bali, with the world’s largest economies also agreeing to address the issue of loss and damage from climate change and reaffirming broadly-termed commitments to phase down unabated coal use and phase out fossil fuel subsidies, in moves that were generally welcomed by climate groups on Wednesday.
Read MoreCOP27: Singapore seals talks to implement carbon credit agreement with Ghana, signs MoU with Papua New Guinea
Singapore and Ghana have concluded negotiations on an implementation agreement to cooperate on carbon credits in alignment with guidelines set out in Article 6, the Singaporean ministry of trade and industry has announced while the island state is eyeing a separate market collaboration partnership with Papua New Guinea.
Read MoreIndonesia to receive $20 bln to accelerate shift from coal in finance deal at G20 summit
A group of rich countries led by the US and Japan has launched a Just Energy Transition Partnership (JETP) agreement with Indonesia, whereby the Southeast Asian nation will receive $20 billion to shift away from coal generation and target an earlier and lower peak in its power generation emissions, they announced at the G20 summit in Bali on Tuesday.
Read MoreMost global coal use covered by net zero pledges but policy action needed to guarantee transition, IEA says
Almost all global coal consumption is now in countries that have committed to a net zero target, but use of the fuel has been stable at near record highs for a decade and immediate policy action is required to mobilise the financing necessary to kickstart a transition to clean energy alternatives worldwide, the International Energy Agency (IEA) urged on Tuesday.
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