IMO strikes provisional shipping emissions deal, awaits full sign-off
Governments at the International Maritime Organisation (IMO) agreed to a provisional deal on Thursday for an initial strategy to address international shipping emissions, including a 50% long-term emission cut target, with the resolution due to be signed-off officially on Friday.
Read MoreNZ ‘walking the talk’ with oil ban, but on uncertain path to zero emissions
New Zealand’s government on Thursday moved to burnish its environmental credentials by announcing a ban on all new offshore oil and gas exploration permits in a bid to reduce carbon emissions.
Read MoreAustralian minister holds firm on NEG, eyes August deal
Australia’s Environment and Energy Minister Josh Frydenberg wants the final rules of the National Energy Guarantee (NEG) agreed by August and legislated by the end of the year, he said Wednesday, showing little interest in compromising on issues that critics have identified as shortcomings of the scheme.
Read MoreSK Market: KAUs slide to 3-mth lows as supply outlook brightens
South Korean carbon allowances have edged down to their lowest levels since Jan. 29 this week as available supply is slowly emerging.
Read MoreAustralia issues over 1 mln offsets, with landfill operator claiming most
Australia has issued nearly 1.1 million carbon credits over the past two weeks, with around 40% of them going to landfill operator LMS Energy, data from the Clean Energy Regulator showed.
Read MoreUN’s IMO meets to craft initial climate effort for international shipping
The International Maritime Organisation (IMO) is grappling this week to secure an initial strategy to address shipping emissions, with countries edging towards agreeing a carbon-intensity goal initially and only later committing to absolute emission cuts and potentially using carbon markets.
Read MoreCement firms must up game on climate action, urges investor watchdog
Cement companies must double their rate of emission reductions to align with the 2C goal of the Paris Agreement, according to a report on Monday from non-profit CDP, which found EU ETS-regulated firms in particular lagging some rivals with operations in uncapped emerging economies.
Read MoreNZ Market: NZUs climb to 6-wk high on healthy demand
New Zealand carbon allowances notched a third consecutive day of gains on Friday, climbing to a 6-week high amid steady demand while sellers were few and far between.
Read MoreVietnam prepares to slap CO2 targets on industry to meet Paris target
Vietnam is finalising a plan that will impose CO2 caps on all sectors of the economy and possibly on individual major emitters, the Ministry of Natural Resources and Environment (MONRE) said, though it remains unclear if the South East Asian nation will go for an emissions trading scheme or a carbon tax.
Read MoreAustralia’s NEG seen likely to make it past first hurdle
Australia’s proposed National Energy Guarantee (NEG) faces its first major test later this month when it will be put to state energy ministers, but expectations are growing that the policy will survive the meeting despite lingering concerns over what it is likely to achieve.
Read More