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Japan, South Korea oppose move to bring global shipping to EU carbon market

Published 17:30 on November 26, 2020  /  Last updated at 17:30 on November 26, 2020  /  Asia Pacific, EMEA, EU ETS, International, Japan, Shipping, South Korea  /  No Comments

Japan and South Korea has voiced concerns over EU plans to extend the scope of its ETS to include emissions from all voyages using the 27-nation bloc’s ports, which the European Commission is considering as part of its carbon market reform.

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South Korea to again shut coal plants over winter to tackle pollution

Published 09:44 on November 26, 2020  /  Last updated at 09:45 on November 26, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korea will close a number of coal-fired power plants during the winter months to reduce air pollution, the government announced Thursday, a move that will also mute demand for CO2 allowances in the nation’s emissions trading scheme.

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Bilateral deals, not talks, likely to shape Article 6 emissions trade rules –NZ minister

Published 08:38 on November 26, 2020  /  Last updated at 08:41 on November 26, 2020  /  Asia Pacific, Climate Talks, International, New Zealand  /  No Comments

Rules for international emissions trade under the Paris Agreement’s Article 6 are more likely to emerge from bilateral deals rather than via climate negotiations, according to New Zealand’s Climate Change Minster James Shaw.

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IATA launches aviation carbon credit exchange, announces first trade

Published 21:03 on November 25, 2020  /  Last updated at 23:18 on November 25, 2020  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, China's Offset Market, EMEA, International, New Market Mechanisms, South & Central, US, Voluntary Market  /  No Comments

Aircraft operators’ association IATA on Wednesday launched its Aviation Carbon Exchange (ACE) to facilitate trade in both CORSIA-eligible and voluntary offsets, also announcing the inaugural transaction on the platform.

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Averna acquisition of ClimateCare puts offset firm on “professional investment footing” ahead of market boom, says founder

Published 18:17 on November 25, 2020  /  Last updated at 18:26 on November 25, 2020  /  Africa, Americas, Asia Pacific, Bavardage, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, Voluntary Market  /  No Comments

The recent acquisition by private equity firm Averna Capital of a majority stake in ClimateCare will help prepare the low-carbon project developer for massive growth in the global offset market, the company’s founder told Carbon Pulse.

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US company launches personal carbon offset service from $10/tonne

Published 15:26 on November 25, 2020  /  Last updated at 15:50 on November 25, 2020  /  Africa, Americas, Asia Pacific, International, Other APAC, REDD, US, Voluntary Market  /  No Comments

A Colorado-based company announced a new service this week for consumers to buy voluntary carbon credits to offset their own emissions or those of others, with the initial product offerings coming from a handful of forestry projects.

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Australia’s voluntary market sees strong growth from low base, data shows

Published 03:39 on November 25, 2020  /  Last updated at 14:02 on November 25, 2020  /  Asia Pacific, Australia  /  No Comments

Voluntary cancellations of Australian carbon credits in Q3 were 63% higher year-on-year, though numbers remain modest amid competition from international units and renewable energy credits.

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Australia Market Roundup: Victoria announces carbon sequestration cash, ERF delivery holds steady

Published 12:28 on November 24, 2020  /  Last updated at 22:44 on November 24, 2020  /  Asia Pacific, Australia  /  No Comments

The Victoria state government on Tuesday announced A$92 million ($68 mln) over 16 years for a land-based carbon sequestration programme, while new Clean Energy Regulator data shows developers continue to sell well over a million offsets per month to the federal government.

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Two CORSIA programmes approved as first REDD standards in a compliance carbon market

Published 19:25 on November 20, 2020  /  Last updated at 22:43 on November 20, 2020  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, China's Offset Market, Climate Talks, EMEA, International, Kyoto Mechanisms, Middle East, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

UN body ICAO’s Council this week fully approved a new jurisdictional REDD programme to supply carbon credits under the pilot phase of the CORSIA global aviation offset scheme, that alongside an update to a previously-recognised standard will see a compliance-based carbon market accept international deforestation reduction units for the first time.

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Vietnam legislates domestic emissions trading scheme

Published 08:16 on November 19, 2020  /  Last updated at 23:51 on November 19, 2020  /  Asia Pacific, Other APAC  /  No Comments

Vietnam’s National Assembly this week passed a revised environmental law, which included provisions to set up a domestic emissions trading market.

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