India’s Green Credit scheme to act as an additional climate policy lever, could attract international support
India’s Green Credit programme that was announced in this week’s budget could potentially receive support from multilateral agencies, enabling the initiative to act as an additional environmental policy tool to existing schemes aimed at meeting the country’s net zero goals, according to an Indian market participant on Friday.
Read MoreCarbon pricing can spur green industrialisation of emerging economies, conference told
The growth of carbon pricing mechanisms, such as through the development of voluntary carbon markets with transparent standards, or compliance markets, can be of benefit to developing economies as it would open opportunities for them to develop green supply chains, a conference on emissions markets in Asia was told on Thursday.
Read MoreIndia commits over $4 bln on energy transition spend in annual budget
Green growth will be one of seven priority areas for the Indian government’s 2023-24 budget, released on Wednesday in India’s parliament, which included an allocation of over $4 billion to help meet the country’s net zero goals as well as contribute to reaching its energy security objectives.
Read MoreSAF, carbon removal essential for offset-dependent aviation to reach net zero by 2050, study says
Aviation faces a huge task to drastically reduce its GHG emissions given expected increases in demand for air travel and air freight transport over the next three decades, which in turn will require significant investment in a combination of sustainable aviation fuels (SAF) deployment and carbon dioxide removal (CDR) technologies for the sector to reach net zero emissions by 2050, research released on Monday has found.
Read MoreSingapore, Malaysia to cooperate on carbon markets in green economy bilateral agreement
Singapore and Malaysia have signed an agreement to cooperate on the green economy and technologies for decarbonisation, one which will include collaboration on carbon markets, they announced on Monday.
Read MoreJapan CCS roadmap targets 12 Mt per year of CO2 storage by 2030, 120-240 Mt annually by 2050
Japan aims to secure between 6 -12 million tonnes of CO2 storage annually by 2030, with the target acting as a benchmark to realise a longer-term goal to reach storage capacity of the greenhouse gas of between 120-240 Mt annually by 2050, according to a CCS roadmap released by the Japanese government on Thursday.
Read MoreJapanese corporates sign multiple CCS supply chain deals amid calls for greater policy support
Several Japanese companies announced collaborations on Thursday to sign a total of four agreements to develop CCS value chains in both Japan and the broader Asia-Pacific region, as momentum builds for carbon capture and storage to play a more integral role in meeting the decarbonisation goals of the country’s large industrial emitters.
Read MoreIndonesia to step up blue carbon efforts, government official says
The Indonesian government plans to step up efforts to preserve seagrass and mangroves as part of its climate change policy and to improve the Southeast Asian country’s blue carbon potential, local media has reported.
Read MoreIndonesia’s coal transition deal needs ramped up ambition to align with 1.5C pathway -report
A recently agreed target to cap Indonesia’s power sector emissions at 290 million tonnes of CO2 per year by the end of the decade can help the Southeast Asian economy reach its net zero emissions by 2060 goal, but is not ambitious enough to transform its carbon intensive power sector to align with a 1.5C pathway, a think tank report released Thursday has found.
Read MoreShell delivers first LNG cargo guided by industry GHG neutral framework
Oil and gas major Shell has delivered a GHG neutral LNG cargo to Taiwan’s national oil company CPC, the first delivery aligned with the industry’s recently established framework for the monitoring, reporting, and verification (MRV) of GHG emissions associated with such shipments.
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