Malaysia to inject over $2 mln to kickstart carbon market, PM says
The Malaysian government will commit RM10 million ($2.2 mln) to help kickstart the country’s newly-formed carbon market by providing finance for local projects that generate carbon credits, Prime Minister Anwar Ibrahim announced at a conference in Kuala Lumpur on Wednesday.
Read MoreJapan backs Australian coal to hydrogen export project with over A$2 bln from green fund
The Japanese government has committed A$2.35 billion ($1.6 bln) to develop a controversial hydrogen supply chain project that utilises a process known as brown coal gasification combined with CCS, to produce and liquefy the fuel for shipping from Australia to Japan, it was announced on Tuesday.
Read MoreJapan, partners leave room for fossil fuels in regional energy transition agreement
Japan signed a pact with ten Asia-Pacific countries at a regional summit of ministers held in Tokyo over the weekend to pursue “practical pathways” to achieve decarbonisation of their economies, embracing a broad-brush approach that will leave a role for abated fossil fuels in their energy transition strategies.
Read MoreBursa Malaysia to auction credits from Cambodian, Chinese projects in inaugural auction
Two offset projects located in Cambodia and China will supply the inaugural Mar. 16 auction on BCX, Bursa Malaysia’s new carbon credit exchange.
Read MoreDeveloper EKI signs partnership with UK smart metering firm to enhance digital MRV for biogas offsets
Indian carbon offset project developer EKI Energy has formed a collaboration with UK-based Inclusive Energy (IE) to enhance monitoring, reporting, and verification (MRV) of energy projects in the voluntary carbon market (VCM), it announced on Thursday.
Read MoreGlobal CO2 emissions up 1% in 2022 but growth tempered by higher clean energy use
Global energy-related CO2 emissions rose by just under 1% to a new high in 2022, reaching 36.8 billion tonnes, although the annual increase was tempered by higher clean energy use offsetting the impact of increased coal and oil demand as the global economy grew by over 3%, according to the International Energy Agency (IEA).
Read MoreIndia must avoid carbon market pitfalls, think-tank says
A carbon market in India can encourage a cost-efficient, low carbon transformation of the Indian economy, but policymakers need to ensure that it is well designed and implemented to avoid key pitfalls that would undermine its ability to contribute to meeting long term climate goals, a report from a Mumbai-based environmental think-tank has found.
Read MoreANALYSIS: Devil in the details for Indonesia, Vietnam JETP deals
The Just Energy Transition Partnership (JETP) deals made with Indonesia and Vietnam represent significant initial breakthroughs in transitioning these key Asian economies from coal reliance, but their longer-term impact will largely depend on how the agreements will be operationalised by both governments to bring about an earlier coal-phase out date, according to analysts.
Read MoreIndia’s states need to accelerate their clean energy policies to help realise NDC goals, report says
India will need state governments to ramp up their actions to accelerate the transition to renewables at the regional level to give the world’s third-largest GHG emitter a better chance to meet its NDC goals, a joint report from two climate policy think-tanks urged on Monday.
Read MoreCCUS in Asia-Pacific needs boost from cross-border deals, supply chain partnerships -consultants
The Asia-Pacific can realise its significant long-term potential as a CCUS leader with a series of actions by governments and companies, such as kickstarting cross-border CO2 transport and storage deals and developing supply chain partnerships, according to a global consulting firm.
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