Australia’s voluntary market sees strong growth from low base, data shows
Voluntary cancellations of Australian carbon credits in Q3 were 63% higher year-on-year, though numbers remain modest amid competition from international units and renewable energy credits.
Read MoreAustralia Market Roundup: Victoria announces carbon sequestration cash, ERF delivery holds steady
The Victoria state government on Tuesday announced A$92 million ($68 mln) over 16 years for a land-based carbon sequestration programme, while new Clean Energy Regulator data shows developers continue to sell well over a million offsets per month to the federal government.
Read MoreResearchers create improved model to predict EUA prices, guide low-carbon investment
Researchers in Australia say they have created an improved model to predict the future price of carbon allowances in the EU ETS and to use that data to guide corporate decarbonisation investment decisions.
Read MoreAustralia Market Roundup: ACCU issuance comes back to normal levels
Distribution of Australian carbon credits returned to regular levels this week after a busier period, while experts told a webinar they expect any crediting under the Safeguard Mechanism to face restrictions.
Read MoreAustralia’s Woodside eyes large-scale offset portfolio to meet emissions target
Oil and gas firm Woodside told investors on Wednesday it aims to develop a large-scale carbon offset portfolio to 2030 to meet new emissions targets, and has identified the potential to store as much as 3.4 billion tonnes of CO2e underground.
Read MoreAustralian MP introduces net zero emissions bill as climate pressure mounts on govt
Independent MP Zali Steggall on Monday was set to introduce a bill that would commit Australia to net zero emissions by 2050 just as international focus on the nation’s climate policy is increasing after Joe Biden’s US election win.
Read MoreAustralia Market Roundup: ERF delivery surpasses 60 Mt, issuance levels at full steam
Offset deliveries to Australia’s Emissions Reduction Fund (ERF) has now surpassed 60 million units, according to Clean Energy Regulator data, while the recent high ACCU issuance levels continued this week.
Read MoreAustralia Market Roundup: ACCU issuance sees big bump, BP to repurpose refinery
Australia’s Clean Energy Regulator tripled the number of carbon credits issued this week as a handful of projects applied for large amounts, while oil firm BP said it will wind down refining activities at a big-emitting facility in Western Australia.
Read MoreNo emissions target would be worst option for Australian industry -report
Deferring a carbon emissions target for Australia’s industry by another decade would be the sector’s worst option, a report released Wednesday said, adding the country’s Safeguard Mechanism could be the ideal lever to decarbonise the sector.
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