Indonesia must phase out 3 GW of coal annually to meet 2040 target, analysis finds
Indonesia would need to retire 3 GW of coal-fired power plants per year and replace it with 8 GW of renewables at the same rate if it is to achieve its 2040 coal phase-out target, according to an analysis published Wednesday.
Read MoreInvestors with $6.5 trillion of assets see mixed results in seafood sustainability engagement
Some 35 investors representing $6.5 trillion in combined assets have engaged with varied results over a year-long outreach with seven seafood companies on sustainability issues such as supply-chain traceability to curb habitat destruction and overfishing.
Read MoreUPDATE – New Zealand auction partially clears with 4 mln NZUs sold
The final New Zealand ETS auction for 2024 has partially cleared, with 4 million NZUs selling at NZ$64 ($37.63), in line with market expectations.
Read MoreChinese conglomerate launches climate tech innovation programme
A Chinese tech major on Tuesday launched the second phase of its carbon accelerator programme, calling on proposals for low-carbon innovations globally, with the purpose of providing funding and support to the tune of tens of millions of dollars.
Read MoreChina sees first registered voluntary carbon project since market relaunch
China has seen the registration of a first voluntary project under its national offset scheme since the market relaunched earlier this year, moving one step closer to the issuance of new credits.
Read MoreFragmentation of standards a fact of life in new carbon market landscape, say experts
Fragmentation in international carbon markets is now a “reality”, and it is unlikely that there will be a single global standard for credits as countries continue to take different approaches in terms of project development, according to panelists speaking at a conference on Tuesday.
Read MoreSouth Korea, UNFCCC to develop Paris-aligned voluntary carbon market
South Korea and the UNFCCC secretariat have agreed to jointly develop a global voluntary market aligned with the Paris Agreement, with detailed plans to be disclosed early next year.
Read MoreNZ bank commits fresh funds to agribusiness carbon cuts in updated sustainability targets
Westpac NZ has updated its sustainability targets for 2027, which include boosting sustainable lending to NZ$9 billion ($5.2 billion), almost half of which will go towards its agribusiness customers to reduce emissions, it announced Tuesday.
Read MoreDemand signals needed to drive green steel development in China, report says
Chinese steelmakers need stronger demand signals, such as a much larger volume of purchase commitments, to spur investment in technologies to make green steel at scale, according to a report released Tuesday.
Read MoreVCM Report: Verra carbon credit retirements breach 7 mln as market shows signs of life
Retirements in the Verra voluntary carbon registry surged to just over 7 million last week, as the market started to show some life after having failed to ignite after the COP climate talks last month.
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