Oil and gas firm Woodside launches plan to offset part of its ballooning emissions
Australian oil and gas producer Woodside Energy on Tuesday announced an offset initiative that will see it eventually buy over 1 million carbon credits annually, though the programme only covers a minor share of the company’s rapidly growing GHG emissions.
Read MoreANALYSIS: Offset market wary about Australia’s ‘compressed crediting’ drive
Australia’s proposal to award some offset projects credits before emission reductions have taken place could create more problems than it solves and may fail to address fundamental risks, according to market participants.
Read MoreAustralia weighs issuing carbon offsets before reductions take place
In a clear break with standard practice, Australia’s environment department has proposed rule changes to its carbon offset programme that would allow for ACCUs to be issued and distributed to owners of some vegetation-based projects before the emission reductions have taken place.
Read MoreANALYSIS: Experts divided on CORSIA aviation offset supply estimates, with CDM renewal risk in focus
Experts are differing greatly on the potential supply of eligible carbon credits that could be available under ICAO’s global aviation offset scheme, and specifically on the amount of available CDM units, which are poised to play a key role.
Read MoreAustralia to hold next ERF auction on Mar. 25-26, ditch benchmark price
Australia will hold the next Emissions Reduction Fund auction in March next year, when for the first time the cost-capping benchmark price will be removed, the Clean Energy Regulator said Friday.
Read MoreNew Zealand launches consultation on CO2 auctioning, cost containment reserve
New Zealand has launched a public consultation round on the rules for auctioning NZUs and how its cost containment reserve (CCR) will work when it replaces the NZ$25 fixed price option next year.
Read MoreVeteran climate lawyer launches climate investment and advisory business
A veteran climate policy and carbon market lawyer has launched a climate change advisory and investment business, aiming to raise $3 billion across investment funds to facilitate the transition to a net-zero and climate resilient future.
Read MoreGCF approves funding for host of forest carbon projects
The Green Climate Fund board on Wednesday approved $308 million in funding for new projects, of which over 40% will go to forest carbon projects, although the World Bank’s International Finance Corporation withdrew an application for a controversial REDD bond scheme.
Read MoreSK Market: Monthly KAU auction clears at record high
South Korea’s monthly CO2 allowance auction cleared at a record high 36,850 won ($31.55) Wednesday, even well above the secondary market that had surged 1.7% to fresh highs earlier in the day.
Read MoreNZ Market: Stationary NZUs unable to lose FPO shackles
NZUs remain rangebound near the NZ$25 fixed price option (FPO) level where prices have been stuck for over two months, as many buyers are reluctant to pay a premium for compliance.
Read More