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Western Australia amends laws to begin earning ACCUs

Published 04:23 on June 17, 2022  /  Last updated at 04:23 on June 17, 2022  /  Asia Pacific, Australia  /  No Comments

The Western Australian state government has amended legislation to allow its Forest Products Commission (FPC) to earn and trade Australian Carbon Credit Units (ACCUs) and other carbon assets, in a bid to ramp up the state’s carbon farming industry.

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UN talks bring climate damage to the fore ahead of Egypt summit

Published 20:41 on June 16, 2022  /  Last updated at 20:43 on June 16, 2022  /  Africa, Americas, Asia Pacific, Australia, Canada, China, Climate Talks, EMEA, International, Japan, Kyoto Mechanisms, Mexico, Middle East, New Zealand, Other APAC, Paris Article 6, South & Central, South Korea, Switzerland, US, Voluntary Market  /  No Comments

Rich-to-poor payments for climate-related harm is set to be the focus of year-end UN climate negotiations, experts said on Thursday as interim talks wrapped in Bonn amid concerns over whether voluntary carbon market infrastructure should feature in a new global emissions trading regime.

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Australia officially updates NDC to cut emissions by 43% by 2030

Published 11:04 on June 16, 2022  /  Last updated at 11:04 on June 16, 2022  /  Asia Pacific, Australia, International  /  No Comments

The Australian government has officially updated its 2030 nationally determined contribution (NDC) with the UNFCCC, increasing its 2030 emissions reduction target under the Paris Agreement to 43% below 2005 levels.

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Australian timber company launches biochar project to turn dead wood into cold cash

Published 08:40 on June 16, 2022  /  Last updated at 08:47 on June 16, 2022  /  Asia Pacific, Australia, International, Voluntary Market  /  No Comments

An Australian timber company plans to convert millions of fire-damaged trees into biochar, in what it claims will be one of the largest projects of its kind in the world, while earning around A$90 million ($62 mln) through the sales of carbon removal certificates (CRCs).

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Race to Zero campaign tightens rules to help prevent greenwashing

Published 20:02 on June 15, 2022  /  Last updated at 20:02 on June 15, 2022  /  Africa, Americas, Asia Pacific, Australia, Canada, China, EMEA, International, Japan, Mexico, Middle East, Nature-based, New Zealand, Other APAC, South & Central, South Korea, Switzerland, US, Voluntary Market  /  No Comments

The UN-backed Race to Zero campaign updated its criteria on Wednesday to ensure credible net zero targets from corporates and financial organisations, aiming to overcome greenwashing concerns while specifying requirements for carbon credit use and other elements.

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BP acquires key 40% role in big Australian green hydrogen export project

Published 06:35 on June 15, 2022  /  Last updated at 06:35 on June 15, 2022  /  Asia Pacific, Australia, International, Japan, Other APAC, South Korea  /  No Comments

UK oil and gas major BP has acquired a 40.5% stake and operatorship of the Asian Renewable Energy Hub (AREH), a massive solar and wind project in north-west Australia that aims to export green hydrogen or ammonia, the company announced on Wednesday.

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UN climate talks outline steps needed to advance global carbon markets

Published 20:26 on June 14, 2022  /  Last updated at 19:34 on June 15, 2022  /  Africa, Americas, Asia Pacific, Australia, Canada, China, Climate Talks, EMEA, International, Japan, Kyoto Mechanisms, Mexico, Middle East, Nature-based, New Zealand, Other APAC, Paris Article 6, South & Central, South Korea, Switzerland, US, Voluntary Market  /  No Comments

UN climate negotiations in Bonn have outlined several technical issues that need to be addressed to advance government-level emissions trade, including infrastructure to track trade, accounting practicalities, and other issues that also have implications for the voluntary carbon market (VCM).

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Australia’s CEFC awards A$2 million to help scale new shark-inspired tech for aviation, shipping

Published 06:43 on June 14, 2022  /  Last updated at 06:43 on June 14, 2022  /  Asia Pacific, Australia, Aviation/CORSIA, International, Shipping  /  No Comments

Australia’s Clean Energy Finance Corporation (CEFC) has awarded a A$2 million ($1.4 mln) grant to a local company that has developed a unique technology to dramatically improve fuel efficiency for aviation and shipping and cut carbon emissions in both sectors, it announced on Tuesday.

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Australian Market Roundup: Small number of projects registered as watchdog looks to stamp out greenwashing

Published 06:22 on June 14, 2022  /  Last updated at 06:22 on June 14, 2022  /  Asia Pacific, Australia  /  No Comments

Only a handful of Australian companies have registered new offset projects with the Clean Energy Regulator the past week, while the nation’s corporate watchdog is urging industry to dob in those engaging in greenwashing.

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VCM Report: Market wobbles as draft buyer standards and recession fears further weaken prices

Published 16:32 on June 13, 2022  /  Last updated at 16:32 on June 13, 2022  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, China, China's Offset Market, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, US, Voluntary Market  /  No Comments

Standardised voluntary emission reduction (VER) credits returned to losses as participants scrambled to adjust positions following the publication of a set of draft buyer standards, amid a broader bearish outlook for prices due to wider macroeconomic weakness.

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