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Australia increases CO2 cap for more major industrial emitters

Published 06:41 on February 6, 2020  /  Last updated at 09:39 on February 6, 2020  /  Asia Pacific, Australia  /  No Comments

Another group of big emitters under Australia’s Safeguard Mechanism has seen emission caps increase, including facilities owned by BHP Billiton and Alcoa, as the government is implementing new rules that allow emissions to rise each year.

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NZ Market: NZUs see modest rebound as ETS reform grips sentiment

Published 12:28 on February 5, 2020  /  Last updated at 12:28 on February 5, 2020  /  Asia Pacific, New Zealand  /  No Comments

NZUs have halted last week’s slide and regained some lost ground the last two days amid limited supply and traders fixing their gaze on expectations of higher prices in the longer term.

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Australia to offer optional offset contracts at ERF auctions

Published 12:15 on February 5, 2020  /  Last updated at 12:16 on February 5, 2020  /  Asia Pacific, Australia  /  No Comments

Australia will let participants in future Emissions Reduction Fund (ERF) auctions sign an optional contract that allow let them to sell contracted carbon credits to the secondary market instead if they can achieve higher prices there, in a bid to attract more participation.

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South Korea ministry approves 2050 emission target well off net zero path

Published 12:07 on February 5, 2020  /  Last updated at 12:07 on February 5, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korea’s environment ministry on Wednesday finalised its proposal for the nation’s long-term emissions strategy, aiming for 40-75% cuts from 2017 levels by 2050.

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New Zealand to use AI to determine deforestation levels

Published 12:02 on February 4, 2020  /  Last updated at 00:05 on February 5, 2020  /  Asia Pacific, New Zealand  /  No Comments

New Zealand will be among the first countries in the world to use artificial intelligence to calculate deforestation levels, which will be used when reporting emissions data to the UNFCCC as well as under its domestic emissions trading scheme.

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Australia hands out 300k carbon credits in latest issuance

Published 09:19 on February 4, 2020  /  Last updated at 09:19 on February 4, 2020  /  Asia Pacific, Australia  /  No Comments

Australia’s Clean Energy Regulator has distributed nearly 300,000 offsets in its latest issuance, with more than two-thirds of those going to developer Terra Carbon, while revoking two more projects that had failed to generate any emission reductions.

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Australia resources minister quits, seeks a more coal-friendly deputy PM

Published 11:08 on February 3, 2020  /  Last updated at 23:41 on February 4, 2020  /  Asia Pacific, Australia  /  No Comments

Australian Resources Minister Matt Canavan resigned on Monday evening, declaring he would back MP Barnaby Joyce’s challenge to lead the National party – the government’s junior Coalition partner – because he would be a more staunch defender of the coal industry.

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Gas expansion at heart of Australia-NSW climate, energy deal

Published 09:24 on January 31, 2020  /  Last updated at 00:58 on February 1, 2020  /  Asia Pacific, Australia  /  No Comments

Australian Prime Minister Scott Morrison and New South Wales state Premier Gladys Berejiklian on Friday unveiled a A$2 billion ($1.34 bln) bilateral agreement on climate and energy centred around efforts to produce more natural gas for domestic consumption.

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NZ Market: NZUs extend losses amid FPO-driven sell-off

Published 09:11 on January 31, 2020  /  Last updated at 00:51 on February 1, 2020  /  Asia Pacific, New Zealand  /  No Comments

New Zealand carbon allowances took another beating on Friday, shedding 2.7% as some emitters sold off units with a view to locking in profits by paying the NZ$25 fixed price option in May.

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NZ Market: NZUs stoop to six-week low as buy side falters

Published 09:33 on January 30, 2020  /  Last updated at 00:25 on January 31, 2020  /  Asia Pacific, New Zealand  /  No Comments

NZUs on Thursday fell to their lowest level since the government’s pre-Christmas announcement that the market’s de-facto price ceiling would be increased to NZ$35 from the 2020 compliance year.

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