Australian budget delivers ACCU cash, huge tax incentives for minerals, hydrogen
Australia’s budget will see another A$48 million ($31.7 mln) for reforms to the Australian Carbon Credit Unit (ACCU) scheme, in addition to billions of dollars in tax credits for critical minerals and green hydrogen development and another A$41 mln for a nature repair market, Treasurer Jim Chalmers announced on Tuesday.
Read MoreLaos consults on upcoming Article 6 carbon laws
After issuing its draft decree on its nascent Article 6-linked carbon market last month, Laos is now holding a consultation on the subject for major stakeholders.
Read MoreBRIEFING: What Australia’s Future Gas Strategy tells us about the Safeguard Mechanism’s impact on emissions
The Safeguard Mechanism will be a strong incentive to reduce carbon emissions, according to the Future Gas Strategy Australia released this week, but an accompanying technical report raises significant challenges and unknowns that could undermine its success.
Read MoreAustralia Market Roundup: April ACCU trading volumes up year-on-year, issuance down, as market awaits method news
Traded volumes for Australian Carbon Credit Units (ACCUs) on spot and forward markets reached a 15-month high in April, according to observers, but the monthly unit issuance has fallen considerably, as the market keeps an eye on the raft of methodology work underway by the government.
Read MoreAustralia releases strategy that banks on gas beyond net zero target date
Australia, one of the world’s top three LNG exporters, on Thursday released a long-term strategy for natural gas, with plans to rely on the fuel well beyond its mid-century net zero target date.
Read MoreConsultancy launches new business line to help companies invest in carbon credits
A global sustainability consultancy has launched a new division focused on helping companies invest in high-quality carbon credits, building on its existing carbon markets strategy, it announced on Thursday.
Read MoreAustralia asks EU to delay compliance on deforestation law
The Australian government has asked the EU to delay regulation that would prevent commodities linked to deforestation from being imported into the bloc.
Read MoreBrazil, India, Saudi Arabia among largest emitters most exposed to climate impacts
A third of the countries responsible for the vast majority of global emissions could face some of the harshest climate change impacts, especially from heat, according to a new report by a risk intelligence company.
Read MoreAustralia’s mining sector well placed to lead on Safeguard credits -expert
Miners could emerge as frontrunners in generating Safeguard Mechanism Credits (SMCs) under Australia’s main carbon market programme thanks to their ability to abate emissions and the varied GHG profiles of different assets, a conference in the country’s unofficial mining capital of Perth heard Thursday.
Read MoreCarbon removal competition selects 20 finalists to compete for $50 mln prize
A global competition to support innovators developing carbon removal solutions has announced its cohort of 20 finalists set to compete in the last stage, with $50 million up for grabs for the winning team able to demonstrate sustainable and cost-effective carbon removal from the atmosphere or ocean.
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