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Australian businesses want steeper climate targets and CO2 markets to help meet them, survey shows

Published 21:01 on November 19, 2018  /  Last updated at 10:18 on November 19, 2018  /  Asia Pacific, Australia  /  No Comments

An overwhelming majority of Australian business and industry think the government should strengthen its climate ambitions and develop a suite of market-based policies to meet them, a survey has found.

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Australia’s Woodside starts approval process for 7 MtCO2e/yr LNG project

Published 10:36 on November 19, 2018  /  Last updated at 14:38 on November 19, 2018  /  Asia Pacific, Australia  /  No Comments

Australia’s biggest oil and gas exploration company has initiated the environmental approval process for a new LNG project that would emit up to 7 MtCO2e per year, enough to erase around a third of the carbon output saved through the Emissions Reduction Fund (ERF).

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NZ Market: NZU slump unlocks higher volumes after long lull

Published 09:26 on November 16, 2018  /  Last updated at 09:28 on November 16, 2018  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances suffered a third straight day of losses on Friday, with the increasing gap to the de facto price ceiling  spurring sellers to come forward after months of near-zero trading.

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Australia issues 246k carbon credits to ERF-contracted projects

Published 09:10 on November 16, 2018  /  Last updated at 09:10 on November 16, 2018  /  Asia Pacific, Australia  /  No Comments

Australia’s Clean Energy Regulator this week issued 246,157 offsets to six projects that are all under contract with the government’s Emissions Reduction Fund (ERF).

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Thailand carbon market shaping up, but legal issues remain

Published 09:16 on November 14, 2018  /  Last updated at 09:16 on November 14, 2018  /  Asia Pacific, Other APAC  /  No Comments

Thailand is expecting to put in place over the next eight months a number of the elements that will make up its national carbon market, but the lengthy process of imposing a national climate change act means the programme won’t launch until after 2020.

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NZ Market: NZUs dip below price ceiling as buyers retreat

Published 09:12 on November 14, 2018  /  Last updated at 09:12 on November 14, 2018  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances on Wednesday fell below the NZ$25 fixed price option for the first time since Aug. 29 as bids retreated to NZ$24.90 ($16.89).

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World can’t take any more new fossil fuel plants, warns IEA

Published 16:12 on November 13, 2018  /  Last updated at 23:34 on November 13, 2018  /  Americas, Asia Pacific, EMEA, International  /  No Comments

The world cannot afford to build any more fossil fuel-based infrastructure without increasing warming by more than 2C, the global energy watchdog IEA warned Tuesday in its annual World Energy Outlook.

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Japan’s industry unmoved despite carbon pricing calls growing louder

Published 10:52 on November 13, 2018  /  Last updated at 22:58 on November 13, 2018  /  Asia Pacific, Japan  /  No Comments

Japan’s biggest business lobby group on Tuesday reiterated that it wants to stick to its voluntary approach to cutting emissions despite growing calls for the government to put a price on carbon to help meet its Paris target at lower cost.

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Analysts see potential upside for Korean CO2 price as emissions rise

Published 10:19 on November 13, 2018  /  Last updated at 23:24 on November 13, 2018  /  Asia Pacific, South Korea  /  No Comments

South Korean carbon prices are at their highest since July but could go even higher as rising emissions in some of the biggest ETS sectors are set to further deplete available supply in the market, according to analysts.

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Philippines ditches carbon tax plans

Published 12:57 on November 12, 2018  /  Last updated at 22:00 on November 12, 2018  /  Asia Pacific, Other APAC  /  No Comments

The Philippines is abandoning plans to introduce a carbon tax, a senior government official told a conference, saying it would impose unpopular costs on consumers while doing little to reduce emissions.

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