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Oil industry falls short of 1.5C goals, finds study that takes a hard line on offsets

Published 22:56 on July 22, 2021  /  Last updated at 22:56 on July 22, 2021  /  Americas, Asia Pacific, EMEA, International, REDD, Voluntary Market  /  No Comments

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.

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EU’s carbon border levy to affect closest neighbours more than global players, experts say

Published 17:51 on July 22, 2021  /  Last updated at 17:51 on July 22, 2021  /  Africa, Asia Pacific, Carbon Taxes, CBAM, China, EMEA, EU ETS, International, South Korea, Switzerland  /  No Comments

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.

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Trading house opens Singapore carbon desk, former Shell traders join

Published 09:11 on July 22, 2021  /  Last updated at 09:11 on July 22, 2021  /  Asia Pacific, Australia, Bavardage, China, China's National ETS, China's Offset Market, Other APAC, Voluntary Market  /  No Comments

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.

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Australian, Japanese firms to explore offset-backed ammonia from natural gas

Published 16:00 on July 21, 2021  /  Last updated at 16:00 on July 21, 2021  /  Asia Pacific, Australia, Japan  /  No Comments

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.

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Glencore sets up Asian carbon desk, hires ex-BP traders

Published 12:00 on July 21, 2021  /  Last updated at 12:25 on July 21, 2021  /  Asia Pacific, Australia, Bavardage, China, China's National ETS, China's Offset Market, International, New Zealand, Other APAC, Voluntary Market  /  No Comments

Commodity trading house Glencore has set up an emissions desk in Singapore, with a former BP carbon trader heading up operations.

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Japan pitches big increase in renewables use at the cost of LNG, coal

Published 08:22 on July 21, 2021  /  Last updated at 09:26 on July 21, 2021  /  Asia Pacific, Japan  /  No Comments

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.

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Disheartened by existing voluntary carbon offerings, market veterans launch ‘fair and transparent’ offset service

Published 21:55 on July 20, 2021  /  Last updated at 12:29 on July 21, 2021  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, Bavardage, EMEA, International, Middle East, Other APAC, REDD, Shipping, South & Central, Voluntary Market  /  No Comments

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.

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Global stimulus spending not enough to prevent record emissions by 2023 -IEA

Published 16:27 on July 20, 2021  /  Last updated at 01:20 on July 21, 2021  /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International, US  /  No Comments

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.

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Australia Market Roundup: Strong demand pushes ACCUs to fresh record high, as ERF deliveries close in on 70 mln

Published 12:16 on July 20, 2021  /  Last updated at 12:16 on July 20, 2021  /  Asia Pacific, Australia  /  No Comments

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.

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VCM Report: CORSIA credit prices press higher, analyst predicts 2 bln-tonne annual VER demand

Published 22:51 on July 19, 2021  /  Last updated at 22:51 on July 19, 2021  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, China's Offset Market, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

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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