Big Australian fossil fuel project emissions sharply higher than originally estimated, study finds
Around one-third of Australian fossil fuel projects assessed by an environmental group were found to be emitting more greenhouse gases than was estimated at the time of their approval by regulators, casting doubt on the efficacy of instruments such as the Safeguard Mechanism to curb carbon pollution, a study released on Thursday has found.
Read MoreMethane emissions from energy 70% higher than previously estimated, IEA says
Global methane emissions from energy-related activities are around 70% higher than what has been officially reported by governments, underlining the need for enhanced monitoring efforts and stronger policy action to drive down emissions of the potent greenhouse gas, the International Energy Agency (IEA) warned on Wednesday.
Read MoreNZU holdings rise by 6.6 mln in Q4 with speculator positions steady
The total number of NZUs held in the national registry rose to 157.7 million in the fourth quarter of 2021, an increase in the number of overall holdings of around 6.6 mln, according to data released by the New Zealand Environmental Protection Agency.
Read MoreSingapore announces large hikes in carbon tax rate, adds partial offset option
Singapore will raise its carbon tax to reach as high S$80 ($60) per tonne of CO2 by the end of the decade and will commit to net zero emissions by “around mid-century”, the island state’s finance minister announced Friday while delivering the government’s 2022 budget, adding that emitters will be allowed to use international offsets towards a share of their obligations.
Read MoreIndia launches green hydrogen policy to boost decarbonisation, energy security
India’s power ministry released a green hydrogen policy this week, outlining a raft of incentives in the first detailed plan to kickstart hydrogen production from renewables since the announcement of a “national hydrogen mission” by India’s Prime Minister Narendra Modi in August last year.
Read MorePower player accelerates Australia’s coal exit momentum with early closure of 2.9GW plant
Australian power and gas company Origin Energy on Thursday announced the early closure of the 2.9GW Eraring black coal plant, which emits around 13 million tonnes of CO2 annually.
Read MoreMitsui teams up with Gazprom Neft for CCS collobaration, explores framework for carbon credits
Japanese conglomerate Mitsui has teamed up with Gazprom Neft, the oil-producing, refining and retail fuel arm of Gazprom, in an agreement to promote the use of CCS in Russia and other countries where the two companies can collaborate, it was announced on Tuesday.
Read MoreSteelmaker Nippon eyes offshore CCS hub project in Australia
Japanese industrial giant Nippon Steel has signed an agreement to evaluate the feasibility of capturing and transporting up to 5 million tonnes of CO2 per year to an Australian offshore floating CCS project, Japan’s biggest steelmaker announced.
Read MoreJapan’s misplaced focus on advanced coal technologies not cost-effective, frustrates climate goals, report says
Japan needs to reevaluate its reliance on advanced coal technologies if it is to meet its climate objectives in the most cost-effective way, according to a report released Monday.
Read MoreAustralia’s climate authority to review use of international offsets
Australia’s minister for energy and emissions reduction, Angus Taylor, has asked the independent Climate Change Authority (CCA) to review the use of international carbon offsets by Australian companies, ahead of the launch of the regional Indo-Pacific Carbon Offset Scheme (IPCOS).
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