Australia to consider allowing international units in Safeguard Mechanism as part of 2026-27 review
Australia will contemplate allowing international carbon credits in the Safeguard Mechanism and limiting the use of Australian Carbon Credit Units (ACCUs) as part of a planned review of the scheme in 2026-27, according to legislative documents.
Read MoreAustralian carbon finance platform begins displaying ACCU price, project data
A Sydney-based fintech company’s carbon credit and data information platform has started displaying Australian Carbon Credit Unit (ACCU) pricing data in a bid to improve transparency in the market, it announced Monday.
Read MoreAustralia Market Roundup: Government announces Net Zero Authority, as regulator makes big landfill gas issuance
The Australian government has announced it will establish a new agency to oversee the country’s transition to net zero emissions in a way that benefits workers, industries, and communities.
Read MoreAustralian agricultural fund eyes biodiversity, carbon credits
Natural capital investor Kilter Rural will this month launch an A$500-million ($333.7 mln) sustainable agriculture fund that will buy and develop 21,000 hectares of farmland in Southeastern Australia, creating biodiversity and carbon credits in the process.
Read MoreAustralia Market Roundup: Northern Territory government greenlights fracking, ACCU price inches up
The Northern Territory government will allow the expansion fracking in the Beetaloo Basin, after the government announced it was satisfied the recommendations of an independent inquiry into the practice had been met.
Read MoreAustralia’s Santos signs MoUs for offshore CO2 storage in Timor-Leste
Oil and gas company Santos has closed four non-binding memoranda of understanding (MoUs) for storage of upwards of 10 million tonnes of CO2 annually at a CCS facility in Timor-Leste, that could seek carbon credits under Australian and international schemes.
Read MoreESG marketplace Xpansiv doubles revenue, dispels auditor concerns about financial fitness
ESG commodities platform Xpansiv expects to post pre-tax profits at the end of this financial year after halving losses in 2022 and almost doubling revenue, the company said in a statement on Thursday, as it shrugged off concerns from its auditor that ongoing operations were in doubt if financiers withdrew support.
Read MoreAustralia, PNG sign carbon market cooperation statements amid corruption investigation
Australia and Papua New Guinea have signed an outcome statement that focusses on climate finance and carbon market participation and an action plan for the Indo-Pacific Carbon Offset Scheme (IPCOS), as a corruption investigation has led to arrests of PNG climate officials.
Read MoreWoodside sees significant shareholder vote against directors at AGM over climate performance
In Australia, Woodside Energy shareholders on Friday voted significantly against the re-election of several of its board members over dissatisfaction its performance on climate, however it will unlikely be enough to stop them from being reappointed.
Read MoreShipping, mining firms incorporate carbon pricing mechanism into freight contract
A shipping firm and a mining and metals company have incorporated a carbon pricing mechanism into their existing contract of affreightment (COA).
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