Chinese 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.
Read MoreIFC launches $450-mln green bond to fund biodiversity
The International Finance Corporation (IFC) has issued a A$700-million ($451 mln) so-called green kangaroo bond in Australia to help close the biodiversity funding gap in emerging markets, it announced Monday.
Read MoreInsurers must contribute to nature-positive future, UNEP FI says
A “first-of-its-kind” guide to try to galvanise action from insurers to engage with a nature-positive future, enabling investments in ecosystems and innovative biodiversity-linked products, was published Monday by the UN Environment Programme Finance Initiative (UNEP FI).
Read MoreIndonesia’s 2040 coal phase-out target difficult, could hit ratings -agency
Indonesia’s recently announced 2040 target coal phase-out date may be unrealistic and could affect power and resource sector companies’ credit ratings if the government adjusts its policy approach to meet the goal, a leading rating agency warned over the weekend.
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