Australian businesses want steeper climate targets and CO2 markets to help meet them, survey shows
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.
Read MoreAustralia’s Woodside starts approval process for 7 MtCO2e/yr LNG project
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).
Read MoreNZ Market: NZU slump unlocks higher volumes after long lull
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.
Read MoreAustralia issues 246k carbon credits to ERF-contracted projects
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).
Read MoreThailand carbon market shaping up, but legal issues remain
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.
Read MoreNZ Market: NZUs dip below price ceiling as buyers retreat
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).
Read MoreWorld can’t take any more new fossil fuel plants, warns IEA
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.
Read MoreJapan’s industry unmoved despite carbon pricing calls growing louder
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.
Read MoreAnalysts see potential upside for Korean CO2 price as emissions rise
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.
Read MorePhilippines ditches carbon tax plans
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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