Vietnam signals revision to Paris pledge to pave way for huge emissions growth
Vietnam has become among the first countries to signal it will adjust its Paris pledge at December’s climate talks, a change that would enable the rapidly-developing country to emit tens of millions of tonnes in additional GHGs by 2030 compared to its previously commitment.
Read MoreIPCC issues sternest warning yet on need for major emission cuts
The world must cut CO2 45% below 2010 levels by 2030 and achieve net zero emissions by mid-century if it is to stand a chance of limiting global warming to 1.5C, the Intergovernmental Panel on Climate Change (IPCC) said Monday in a report highlighting the far-reaching differences in impact between 1.5C and 2C of warming.
Read MoreBig forest projects push up Australia’s weekly offset issuance to 300k
Australia’s Clean Energy Regulator doled out 297,582 carbon credits this week as big issuances to some forest projects pushed volumes up above average levels.
Read MoreAs CORSIA doubts persist, developers push ‘future-proof’ carbon projects to airlines
Developers are focusing on investing in and promoting carbon-cutting projects they think most likely to be eligible under the CORSIA aviation offset scheme, in an effort to encourage airlines to buy the units ahead of rules being finalised.
Read MoreNZ Market: NZUs remain rangebound amid lack of news on price ceiling
New Zealand carbon allowances remain near record highs, but continue to sit in a tight range while traders await news on the fate of the NZ$25 fixed price option.
Read MoreOverwhelming majority want NZ’s zero-emission target to cover all GHGs, consultation finds
As many as 91% of more than 15,000 respondents to New Zealand’s zero carbon bill wanted the target it sets to cover all greenhouse gases, the government said Thursday.
Read MoreCabinet reshuffle clouds way forward for Japan carbon pricing
Japan’s latest push on carbon pricing was plunged into uncertainty this week after Prime Minister Shinzo Abe replaced Environment Minister Masaharu Nakagawa, who had launched twin processes to put the issue back on the government’s agenda.
Read MoreMajor Korean coal region joins anti-coal alliance
Korea’s South Chungcheong province on Tuesday became the first Asian jurisdiction to join the UK- and Canadian-led Powering Past Coal Alliance, a move that will see closing dates for 14 coal plants brought forward by up to five years.
Read MoreAustralia sets CO2e cap for Shell’s Prelude floating LNG platform
Australia’s Clean Energy Regulator has set an annual emissions cap for Shell’s Prelude project under the Safeguard Mechanism, but the world’s second-biggest floating LNG platform will still bump up the nation’s greenhouse gas emissions by nearly 3 MtCO2e annually.
Read MoreAustralia’s GHG emissions keep rising amid LNG export boom
Australia’s greenhouse gas emissions rose 1.3% in the year to Mar. 31, largely due to a massive increase in export-focused LNG production and despite a reduction in emissions from the power sector.
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