Australia Market Roundup: ACCU issuances balloon, as EnergyAustralia pledges to offset emissions from new plant
Newly minted carbon credits rose to over 660,000 in the Clean Energy Regulator’s latest batch, while offset demand is set to increase after EnergyAustralia on Tuesday promised to offset all emissions from a new gas-fired power plant.
Read MoreNew Paris climate pledges to help cut projected warming to 2.4C -scientists
The new climate pledges announced during April’s US-led climate summit are projected to put the world on track for global warming of 2.4C above pre-industrial levels, a report published Tuesday showed, reflecting a drop from 2.6C previously but still far off the Paris Agreement’s 1.5-2C goals.
Read MoreSantos, Eni eye offset generation from carbon capture in Timor-Leste
Australia’s Santos and Italy-headquartered Eni will investigate introducing CCS at a gas field in Timor-Leste that could store CO2 imported from Australia, generating carbon credits in the process, they announced Monday.
Read MoreGermany, Russia sign MoU to ship hydrogen via controversial gas pipeline
Germany and Russia have signed a €2 billion memorandum of understanding (MoU) to leverage the controversial gas pipeline Nord Stream 2 for the eventual distribution of hydrogen, even as the European Parliament called for the project to be halted due to rising tensions with Moscow.
Read MoreUN launches AI-based platform for natural capital accounting
The UN and the Basque Centre for Climate Change (BC3) have unveiled a new tool for quantifying and accounting for ecosystem values under a previously-launched framework and standard, a facility designed to complement current measurements of GDP.
Read MoreAustralia advances plans for voluntary carbon offset exchange
Australia’s Clean Energy Regulator is moving forward with plans to set up an exchange for Australian Carbon Credit Units (ACCUs), in a bid to boost transparency and cut costs as the nation’s voluntary carbon market expands.
Read MoreIncreased financial sector participation to dramatically change voluntary carbon market -panel
The structure of voluntary carbon markets (VCM) is expected to change dramatically as financial institutions become ever-larger participants in the space and corporate purchasing decisions shift from marketing departments to finance, a conference heard on Tuesday.
Read MoreAustralia Market Roundup: Veolia makes major ERF deliveries, as NSW committee backs out of imposing offset requirements
Veolia’s Australian subsidiary has delivered over 320,000 credits to the government’s Emissions Reduction Fund (ERF) in recent weeks, while NSW regulators declined to impose carbon offset requirements on a new coal mine despite the miner offering to accept such a measure.
Read MoreLEAF to impose high-ambition climate, deforestation commitments on both buyers and sellers -panel
The Lowering Emissions by Accelerating Forest (LEAF) finance coalition will impose high ambition requirements on public and private sector buyers and sellers of offsets, its founding nations the US, the UK, and Norway said on a webinar on Friday.
Read MoreUS likely needs new legislation to hit its revised Paris climate goal -panel
The US will need to leverage existing programmes and regulatory authority to drive near-term emissions reductions, but federal legislation is likely required to hit its enhanced Nationally Determined Contribution (NDC) to the Paris Agreement, panelists told a conference on Friday.
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