Norway pays Indonesia for cutting 11.2 MtCO2e under forestry deal
Norway has paid Indonesia for reducing greenhouse gas emissions by 11.2 MtCO2e, the first payment under a 10-year-old bilateral forestry deal after a smaller transfer flagged last year never materialised.
Read MoreSK Market: KAU nosedive continues as market swims in units
South Korean CO2 permits shed another 9.9% in Friday trade to sink to their lowest levels since Oct. 2018 as the market remained flooded with surplus allowances and bereft of demand.
Read MoreAustralia’s NT outlines offset principles, vague on links to Safeguard Mechanism
The Northern Territory government in Australia has released principles for use of carbon offsets in its efforts to reach net zero emissions by mid-century, but did not clarify which requirements might be imposed on facilities already regulated under the federal Safeguard Mechanism.
Read MoreSK Market: Over-supplied Korean CO2 market plunges to 18-mth low
South Korea’s ETS prices collapsed nearly 10% on Thursday to their lowest levels since Jan. 2019, with support disappearing as industrials continued to dump surplus KAUs they normally would have banked.
Read MoreRio Tinto’s aluminium shutdown plan halts NZ carbon price bull run
Rio Tinto is preparing to shut down New Zealand’s only aluminium smelter next year amid high energy costs and a poor industry outlook, it said on Thursday, a move that paused the rapid rise in NZ carbon prices as traders digested the prospect of the nation’s biggest electricity consumer closing.
Read MoreIMO policy should establish higher GHG reduction threshold for biofuels than CORSIA -report
The International Maritime Organization (IMO) should model its plan to decarbonise the global shipping sector on the CORSIA programme for aviation, but it should go further than its fellow UN body ICAO in setting a more ambitious carbon reduction target for sustainable fuels, according to a report published this week.
Read MoreGerman govt launches tender to buy 431k CERs
The German government has launched a tender to buy 431,300 CERs to offset the emissions from a series of activities including those associated with its EU Council presidency.
Read MoreSK Market: CO2 auction fails to sell out for third straight time, prices hit year-low
South Korea failed to sell out its monthly KAU auction for a third time in a row on Wednesday, while secondary market prices fell to their lowest levels since June last year.
Read MoreJapan co-funds 10 new JCM projects across South East Asia
Japan’s environment ministry has picked 10 more projects it will co-fund under its Joint Crediting Mechanism (JCM), to help meet its emissions target under the Paris Agreement.
Read MoreDeveloper Corporate Carbon hires offset expert for role in advisory team
Australian project developer Corporate Carbon has hired an experienced offset market expert to head up the strategic development and origination team of its advisory arm.
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