Australian parliament formally adopts law committing to 43% GHG emissions reduction by 2030
The Australian parliament has formally adopted its first climate change legislation in over a decade with the Senate voting in favour of the Labor government’s climate bill on Thursday, which commits Australia to targeting a 43% cut in GHG emissions from 2005 levels by 2030 as well as net zero emissions by 2050.
Read MoreMitsui, Shell team up in bid to boost CCS in Asia-Pacific
Japanese trading powerhouse Mitsui has signed a joint agreement with oil and gas major Shell to explore the technical and commercial feasibility of carbon capture and storage (CCS) development in the Asia-Pacific region, the two companies announced on Thursday.
Read MoreAustralia’s NSW environment agency to assess market-based tools for emissions reduction
The Environment Protection Authority (EPA) of Australia’s New South Wales (NSW) state government will consider market-based approaches, such as fees, targeted caps, offsets, or a trading scheme as potential future options to help implement its climate change action plan released on Thursday.
Read MoreAustralia’s NSW launches 5-year strategy to kickstart blue carbon investment
The New South Wales (NSW) state government in Australia has launched a five-year blue carbon strategy to unlock investment through carbon credits and other mechanisms to protect and restore the state’s coastal biodiversity and ecosystems and contribute to its emissions reduction targets.
Read MoreEnergy investment in Indonesia needs to triple by end of decade if net zero goal is to be reached, IEA says
Indonesia will need to almost triple energy investment by 2030 from today’s level, or by around $8 billion per year compared with a business-as-usual pathway, if the Southeast Asian economy is to reach net zero emissions by 2060, according to a report from the International Energy Agency (IEA) released on Friday.
Read MoreWoodside-led JV awarded offshore GHG storage permit, says can store up to 5mln tonnes per year
A joint venture (JV) led by Australian oil and gas operator Woodside has been awarded a permit for the potential development of an offshore CO2 storage site in Western Australia, it announced on Thursday.
Read MoreAustralia’s GHG emissions rise by 1.5% despite fall in electricity sector
Australia’s GHG emissions rose by 1.5% in the twelve months to the March quarter of 2022 from the previous year, reflecting a modest economy-wide increase despite emissions from electricity continuing to fall, government data showed Wednesday.
Read MoreEquinor, Wintershall to develop Germany-Norway CCS value chain
Upstream oil and gas companies Equinor and Wintershall Dea have teamed up to pursue the development of an extensive CCS value chain that will connect CO2-emitting establishments in Europe with offshore CCS sites in the Norwegian Continental Shelf (NCS), they announced on Tuesday.
Read MoreNamibia to develop carbon market with UN agency assistance to help meet upgraded NDC goals
Namibia will establish an enabling framework to develop carbon market-based options, such as an emissions trading scheme, to help the country implement its NDC targets, it was announced on Monday.
Read MoreSingapore environment agency signs MoUs with Verra, Gold Standard
Singapore’s National Environment Agency (NEA) has signed two Memorandums of Understanding (MoU) separately with offset standards agencies Verra and Gold Standard as part of the island-state’s efforts to operationalise Article 6 guidelines of the Paris Agreement.
Read More