VCM Report: Carbon credit retirements surge late in year, with older and cheap units favoured
A surge in retirement of carbon credits last week set voluntary demand on course to match 2022 levels, while trading volumes were boosted by rock bottom prices for pre-2018 REDD avoided deforestation credits as more onerous disclosure requirements loom.
Read MoreMitsubishi teams up with Thai player for AZEC decarbonisation work
Mitsubishi Corporation will work with Thailand’s Charoen Pokphand Group on an initial study to decarbonise the Southeast Asian country’s large industrial sector.
Read MoreFEATURE: Green hydrogen high on political agenda as race kicks off to price international trade
Green hydrogen will still be a blip in the world energy mix by the end of the decade, but the US, China, and the EU have locked horns in a high stakes race for supremacy that could decide whether the dollar, the yuan, or the euro becomes the international trading currency of the fuel of the future.
Read MoreMajor Japanese power company announces nature-based carbon investment alongside LNG contract
A major Japanese power company has inked an agreement with a global commodity trader for the supply of liquefied natural gas (LNG) alongside investment in a nature-based carbon project in Australia, which it said was the first deal of its kind in Japan.
Read MoreJapanese companies team up with regional governments to create forest-based offsets
A consortium led by a Japanese bank has teamed up with two regional governments for the development of forest-based carbon credits under the domestic J-Credit programme, the companies announced Thursday.
Read MoreCOP28: Global Stocktake avoids fossil fuel phaseout language in historic final text
A final negotiating text on the first ever Global Stocktake (GST) of the Paris Agreement was agreed by countries at COP28 early Wednesday, urging a “transition away from fossil fuels in an equitable manner” but crucially avoiding the stronger ‘phaseout’ language seen in earlier versions.
Read MoreVCM Report: Bargain hunting starts to slow trade before end of the year
Bargain hunting dominated the voluntary carbon market (VCM) last week where activity started to slow down for the year, despite the emergence of the first correspondingly adjusted credits that are expected to create a new tier of trading.
Read MoreCOP28: Australia picks more projects under blue carbon initiative
Australia on Monday announced it will distribute more than A$3 million ($2 mln) in grants to four projects for conservation of marine ecosystems under the Blue Carbon Accelerator Fund (BCAF) it administers in partnership with IUCN.
Read MoreCOP28: Japan to include blue carbon in UN GHG accounting, raising offset concerns
From next year Japan will become the first country to include full seabed carbon sequestration data in its UNFCCC greenhouse gas inventory, raising concerns among some observers this will open the door to offset more fossil fuel use.
Read MoreCOP28: Brazil climbs, UK slips in latest climate change performance index
Brazil has climbed up 15 spots due to progressive climate policies, while the UK slipped back by nine ranks due to policy rollback, in a report published this week alongside COP28, which found no country was on track to limit global warming in line with the Paris Agreement.
Read More
