Oil industry falls short of 1.5C goals, finds study that takes a hard line on offsets
The world’s oil and gas industry is set to vastly exceed emissions levels compatible with limiting global warming to the Paris Agreement’s 1.5C goal, according to a study that gave no weight to the sector’s massive offset buying spree.
Read MoreEU’s carbon border levy to affect closest neighbours more than global players, experts say
The EU’s proposed carbon border adjustment mechanism will likely affect its closest neighbours much more than global trade partners, experts believe, despite an increasing number of countries across the globe expressing concerns over the 27-nation bloc’s plans.
Read MoreTrading house opens Singapore carbon desk, former Shell traders join
A major Dutch-headquartered firm has become the latest trading house to expand its emissions business to the Asia-Pacific region, with at least two carbon traders joining from Shell.
Read MoreAustralian, Japanese firms to explore offset-backed ammonia from natural gas
Australia’s Woodside and a quartet of Japanese companies are exploring the possibility of using Australian natural gas to produce ammonia for the Japanese market, with associated CO2 emissions to be offset from CCS or bio-sequestration projects.
Read MoreGlencore sets up Asian carbon desk, hires ex-BP traders
Commodity trading house Glencore has set up an emissions desk in Singapore, with a former BP carbon trader heading up operations.
Read MoreJapan pitches big increase in renewables use at the cost of LNG, coal
Japan will double the share of renewables in its energy mix by 2030 and make large cuts in LNG and coal consumption, according to a proposal released by the nation’s industry ministry Wednesday.
Read MoreDisheartened by existing voluntary carbon offerings, market veterans launch ‘fair and transparent’ offset service
Amid a global voluntary carbon market it says is hamstrung by profiteering, criminal activity, and a lack of regulation, a team of market veterans has launched a new carbon offset firm with the goal of providing for its customers a ‘genuine, fair, and transparent’ path to net zero.
Read MoreGlobal stimulus spending not enough to prevent record emissions by 2023 -IEA
The International Energy Agency (IEA) has warned that current government spending on post-COVID recovery measures isn’t targeting sufficiently clean energy investment, and that carbon emissions may climb to record levels by 2023 as a result.
Read MoreAustralia Market Roundup: Strong demand pushes ACCUs to fresh record high, as ERF deliveries close in on 70 mln
Strong interest from speculative and voluntary buyers on Tuesday pushed the Australian offset price to a record high for the fourth consecutive trading session, while delivered credits to the government’s Emissions Reduction Fund (ERF) is now within touching distance of the 70-million mark.
Read MoreVCM Report: CORSIA credit prices press higher, analyst predicts 2 bln-tonne annual VER demand
CORSIA-grade offset values on the voluntary carbon market (VCM) stretched all-time highs this week, while an analyst said yearly demand for voluntary emissions reductions (VERs) could eventually top out near the 2 billion-tonne mark.
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