Climate Change Authority says Australia should ditch offsets older than five years, phase out CER use
Australia’s independent Climate Change Authority (CCA) on Thursday recommended ruling out consumption of offsets older than five years and phasing out the use of UN-issued carbon credits for voluntary purposes by 2025.
Read MoreFramework finds most Australian industrials off course on their Paris goals
Only one out of 20 industrial companies assessed in Australia passed a new test on their ability to meet their declared Paris Agreement goals, according to a study from three major universities published on Wednesday.
Read MoreAustralia Market Roundup: Commonwealth Bank outlines sectoral emissions roundup, as ACCU issuance slides
Australia’s Commonwealth Bank on Wednesday set targets for reducing its financed emissions in some carbon intensive sectors, while the weekly number of newly minted Australian Carbon Credit Units (ACCUs) fell to around 300,000.
Read MoreVCM Report: Standard offset prices pick up to close gap to bespoke market
The market turned a corner at the end of the week, with standard offsets prices jumping higher to close the gap on a bespoke market that has been more successful in resisting the bearish trend.
Read MoreCrucial senators raise ACCU integrity concerns in climate bill negotiations
Two Australian senators could withhold their critical votes on the Labor government’s climate change bill until it addresses their concerns around several Australian Carbon Credit Unit (ACCU) methodologies.
Read MoreANALYSIS: Energy, industrial, and aviation firms tend to pay below-average for carbon credits
Companies active in the energy, heavy industry, and aviation sectors tend to pay below-average for their carbon offsets, according to retirement data collated by a climate analytics firm, while car manufacturers and tech firms have historically purchased credits at a higher price than most others.
Read MoreANALYSIS: Safeguard Mechanism looms as Australia’s next big climate policy hurdle
The Australian Labor Party government is all but certain to have its 43% emissions reduction cut by 2030 signed into law next month, now the work begins on one of its key policy measures to meet that target – the Safeguard Mechanism.
Read MoreUPDATE – Xpansiv to buy Evolution Markets to create carbon powerhouse
A powerhouse is being created in the global carbon markets with Xpansiv, a major platform for environmental markets, announcing Thursday it is acquiring Evolution Markets, one of the world’s largest emissions brokerages.
Read MoreAustralian gas company commits to coastal wetlands restoration work
An Australian gas producer has entered into a three-year partnership with a Victorian university to restore critical coastal wetlands, as private-sector interest in blue carbon continues to grow.
Read MorePrice gap widening between OTC and futures market for new nature-based VERs
Nature-based, standardised spot and futures VER values remained in the doldrums Wednesday amid inflation-triggered economic uncertainty, widening the gap below a bespoke voluntary carbon market (VCM) where prices are climbing higher for newer vintage credits.
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