Carbon project ratings agency lays off dozens of staff amid voluntary market slowdown

Published 01:05 on December 4, 2024  /  Last updated at 01:05 on December 4, 2024  / /  Americas, Asia Pacific, Bavardage, EMEA, Nature-based, Voluntary

A carbon project ratings agency has laid off dozens of staff members amid a company restructuring campaign, Carbon Pulse has learned.

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New Zealand unveils details on limiting exotic forestry in ETS

Published 00:58 on December 4, 2024  /  Last updated at 01:25 on December 4, 2024  / /  Asia Pacific, New Zealand

The New Zealand government on Wednesday published long-awaited elements of its plan to limit exotic forestry in the Emissions Trading Scheme based on Land Use Capability (LUC) class. 

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Indonesia must phase out 3 GW of coal annually to meet 2040 target, analysis finds

Published 00:01 on December 4, 2024  /  Last updated at 01:44 on December 4, 2024  / /  Americas, Asia Pacific, Canada, Other APAC

Indonesia would need to retire 3 GW of coal-fired power plants per year and replace it with 8 GW of renewables at the same rate if it is to achieve its 2040 coal phase-out target, according to an analysis published Wednesday.

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Investors with $6.5 trillion of assets see mixed results in seafood sustainability engagement

Published 00:01 on December 4, 2024  /  Last updated at 16:13 on December 3, 2024  / /  Asia Pacific, Biodiversity, EMEA, Japan

Some 35 investors representing $6.5 trillion in combined assets have engaged with varied results over a year-long outreach with seven seafood companies on sustainability issues such as supply-chain traceability to curb habitat destruction and overfishing.

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New Zealand auction partially clears with 4 mln NZUs sold

Published 23:13 on December 3, 2024  /  Last updated at 22:43 on December 4, 2024  / /  Asia Pacific, New Zealand

The final New Zealand ETS auction for 2024 has partially cleared, with 4 million NZUs selling at NZ$64 ($37.63), in line with market expectations.

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Chinese conglomerate launches climate tech innovation programme

Published 12:34 on December 3, 2024  /  Last updated at 12:34 on December 3, 2024  / /  Asia Pacific, China, Voluntary

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.

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China sees first registered voluntary carbon project since market relaunch

Published 10:44 on December 3, 2024  /  Last updated at 10:44 on December 3, 2024  / /  Asia Pacific, China

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.

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Fragmentation of standards a fact of life in new carbon market landscape, say experts

Published 10:20 on December 3, 2024  /  Last updated at 10:20 on December 3, 2024  / /  Americas, Asia Pacific, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, Voluntary

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.

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South Korea, UNFCCC to develop Paris-aligned voluntary carbon market

Published 08:13 on December 3, 2024  /  Last updated at 08:13 on December 3, 2024  / /  Asia Pacific, International, Nature-based, Paris Article 6, South Korea, Voluntary

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.

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NZ bank commits fresh funds to agribusiness carbon cuts in updated sustainability targets

Published 05:31 on December 3, 2024  /  Last updated at 05:31 on December 3, 2024  / /  Asia Pacific, New Zealand

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.

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