Australia’s NSW puts end to coal-for-export mine amid climate concerns
The Independent Planning Commission in Australia’s New South Wales on Wednesday rejected plans by South Korean firm KEPCO to build a new coal mine, citing environmental impact concerns and that the company had not done enough to limit greenhouse gas emissions.
Read MoreSK Market: KAUs extend record highs as remaining buyers grow desperate
South Korean carbon allowances hit record highs for the third consecutive session on Wednesday, as the few emitters yet to acquire the allowances they need before the impending compliance deadline are forced to pay higher prices.
Read MoreNew Zealand issues voluntary offset guidelines
New Zealand has issued guidelines for companies wanting to use carbon credits to voluntarily offset their GHG emissions, flagging the potential use of international units as well as some permits also eligible in the domestic emissions trading scheme.
Read MoreSK Market: KAUs hit fresh record highs though volumes dwindle
South Korean carbon allowances rose to new all-time highs in Monday trade, but volumes fell again as supply remains patchy ahead of the Sep. 30 compliance deadline.
Read MoreNZ Market: NZUs edge down as buyers take a step back
New Zealand carbon allowances recorded a sixth consecutive session of minor losses on Friday, with buyers taking their feet off the pedal after prices rose back above the NZ$25 fixed price option level last week.
Read MoreAustralian offset issuance slows further, but delivery picks up
Australia’s Clean Energy Regulator issued fewer than 60,000 carbon credits this week, but delivery to the government’s Emissions Reduction Fund has picked up pace in recent weeks.
Read MoreAustralia puts avoided deforestation offset method under review
Australia on Wednesday opened a review of the method that allows land-owners to earn carbon credits for avoided deforestation, an approach that has previously come under fire for lacking integrity but from which the government has contracted to buy some 26 million offsets.
Read MoreSK Market: KAUs rise again, but auction clears well below secondary market
Korean CO2 permits rose again on Wednesday to equal Monday’s record high closing price, even as today’s KAU auction cleared 2.6% below secondary market prices.
Read MoreChina, Russia blast “unfair” CORSIA, as EU’s resolve tested on aviation ETS
China and Russia have blasted the ICAO’s CORSIA aviation offsetting mechanism as unfairly burdening emerging economies, setting up a testing triennial Assembly of the UN aviation body that also threatens the EU’s inclusion of flights in its carbon market.
Read MoreSK Market: KAUs come off highs, but demand remains
South Korean carbon allowances fell back slightly on Tuesday after starting the week at record highs, but demand remains strong as the clock ticks towards the annual compliance deadline at the end of the month.
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