Govt panel says New Zealand can lower methane reduction ambitions
Even if the world meets its global 1.5C temperature target, New Zealand can get away with reducing methane emissions at the very low end of its legislated target, and even go below that if climate action elsewhere is less successful, a controversial government panel said Wednesday.
Read MoreNew Zealand unveils details on limiting exotic forestry in ETS
The New Zealand government on Wednesday published long-awaited elements of its plan to limit exotic forestry in the Emissions Trading Scheme based on Land Use Capability (LUC) class.
Read MoreNew Zealand auction partially clears with 4 mln NZUs sold
The final New Zealand ETS auction for 2024 has partially cleared, with 4 million NZUs selling at NZ$64 ($37.63), in line with market expectations.
Read MoreNZ bank commits fresh funds to agribusiness carbon cuts in updated sustainability targets
Westpac NZ has updated its sustainability targets for 2027, which include boosting sustainable lending to NZ$9 billion ($5.2 billion), almost half of which will go towards its agribusiness customers to reduce emissions, it announced Tuesday.
Read MorePREVIEW: NZ ETS watchers expect partial clearance at final auction for 2024
New Zealand carbon market participants are expecting to see a partial clearance at this week’s government-held auction in anticipation of much smaller volumes being issued in future years.
Read MoreNZ Market: NZUs trade just above auction price floor as anticipation grows
Spot New Zealand carbon allowances on Monday traded just above the auction price floor for the first time since March, as observers said the market’s long quiet stretch is a sign of positive things to come.
Read MoreCOP29: Reactions to the new Baku Finance Goal, Article 6 deal
Here are selected party, stakeholder, and expert reactions to the New Collective Quantified Goal on climate finance (NCQG), dubbed the Baku Finance Goal, as well as the agreement on Article 6 reached at the COP29 climate summit, which wrapped up early Sunday.
Read MoreMagnesium hydroxide highly effective for ERW, but there’s a catch -study
Magnesium hydroxide (MgOH2) is one of the most effective materials for capturing and storing atmospheric CO2, according to a new study that evaluated the potential for commonly-used hydrated rock, mineral powders, and industrial cement waste in enhanced rock weathering (ERW).
Read MoreGreece, EU unveil ETS-funded multi-billion-euro investment vehicle to decarbonise country’s islands
Greece has unveiled an multi-billion-euro investment vehicle with the EU to decarbonise its islands’ energy sources, raising funding in part from the sale of 25 million carbon allowances.
Read MoreCOP29: New Zealand joins fossil fuel phaseout subsidy coalition while on cusp of lifting oil and gas exploration ban
New Zealand on Tuesday joined several countries in an international coalition to phase out fossil fuel subsidies and incentives, despite its government expecting soon to pass legislation to lift the country’s ban on oil and gas exploration.
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