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IEA promises net zero global energy roadmap, warns of post-pandemic GHG rebound

Published 19:26 on January 11, 2021  /  Last updated at 01:09 on January 12, 2021  /  Americas, Asia Pacific, Climate Talks, EMEA, International  /  No Comments

The IEA plans to publish a roadmap for how the global energy sector can reach net zero emissions by 2050, it announced Monday, while flagging that GHGs were set to rebound from pandemic-induced drops seen this year.

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ANALYSIS: Climate ambition gap following Paris NDC deadline leaves task to major emitters 

Published 23:00 on January 5, 2021  /  Last updated at 02:02 on January 6, 2021  /  Africa, Americas, Asia Pacific, Australia, Canada, China, Climate Talks, EMEA, International, Japan, Mexico, Middle East, Other APAC, South & Central, South Korea, Switzerland, US, Voluntary Market  /  No Comments

Most countries have missed a year-end deadline to update and enhance their GHG reduction commitments as the Paris Agreement took effect on Jan. 1, putting more focus on the need for greater climate ambition from large emitters this year to help close the gap to achieving the pact’s temperature goals.

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South Korea releases 2021 carbon auction schedule

Published 02:53 on December 31, 2020  /  Last updated at 06:22 on January 12, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korea will auction more than 18 million CO2 allowances in 2021, with monthly volumes rising in the second half of the year as tighter regulations for the third phase of the emissions trading scheme kick in, the annual auctioning schedule shows.

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South Korea sets out plans to cut coal consumption, energy sector CO2 emissions

Published 02:37 on December 31, 2020  /  Last updated at 08:23 on December 31, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korea wants the share of coal in the nation’s energy mix to fall by a quarter over the next 14 years, but an increase in LNG consumption means the power sector’s 2030 emissions reduction target is less ambitious than its goal for the overall economy.

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BRIEFING: International emissions trading pilots see fourfold funding gain ahead of Paris rulebook

Published 10:08 on December 22, 2020  /  Last updated at 22:55 on December 22, 2020  /  Africa, Americas, Asia Pacific, China, Climate Talks, EMEA, International, Japan, Kyoto Mechanisms, New Market Mechanisms, New Zealand, South Korea, Switzerland  /  No Comments

Governments have committed $1.37 billion towards international emissions trading pilot programmes to help meet Paris Agreement goals, according to a report that charts a fourfold rise in finance inside 18 months.

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New Zealand makes U-turn on carbon auction technical reserve price

Published 02:47 on December 22, 2020  /  Last updated at 22:59 on December 22, 2020  /  Asia Pacific, New Zealand  /  No Comments

New Zealand will opt for a technical reserve price at its NZU auctions after all, Climate Change Minister James Shaw has said, a move intended to ensure government sale prices don’t drop far below secondary market levels.

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Japan PM instructs officials to draw up carbon pricing proposal

Published 00:54 on December 22, 2020  /  Last updated at 01:03 on December 22, 2020  /  Asia Pacific, Japan  /  No Comments

Prime Minister Yoshihide Suga has instructed the environment ministry to draw up a carbon pricing proposal as an option for the country’s climate policy strategy.

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Australia Market Roundup: ACCU issuance holds up, regulator extends Safeguard baselines

Published 09:52 on December 21, 2020  /  Last updated at 09:52 on December 21, 2020  /  Asia Pacific, Australia  /  No Comments

Australia’s Clean Energy Regulator has issued 320,000 carbon credits in its latest awards round, while also extending baseline determinations for dozens of facilities due to COVID-19 interruptions.

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Cheap units from emerging nations dominate voluntary offset supply, survey shows

Published 00:07 on December 19, 2020  /  Last updated at 02:13 on December 19, 2020  /  Americas, Asia Pacific, Aviation/CORSIA, China's Offset Market, EMEA, International, Other APAC, REDD, South & Central, Voluntary Market  /  No Comments

Low-cost offsets from emerging or developed nations dominated voluntary carbon market supply in 2019, while market participants fear efforts to standardise pricing will make premiums even harder to achieve for high quality activities, according to a report published Friday.

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World needs to cut CO2 intensity five times faster to hit 1.5C Paris goal -report

Published 00:01 on December 18, 2020  /  Last updated at 00:17 on December 18, 2020  /  Americas, Asia Pacific, EMEA, International, Voluntary Market  /  No Comments

An annual decarbonisation rate of 11.7% is now needed to keep global warming below 1.5C, representing more than five times the 2.4% reduction level reached before the pandemic, according to a report published on Friday.

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