SK Market: November auction again oversubscribed, spot KAU price increases
South Korea’s latest monthly CO2 permit auction was again oversubscribed with an increase in the clearing price, while sentiment in the spot market continues to improve partly due to the relaxation of the carryover rules.
Read MoreCOP29: Major fossil fuel-producing countries commit funding, announce penalties to crack down on methane emissions
South Korea and the UK announced multimillion dollar funding commitments to support international efforts to reduce methane emissions, while the US launched a fine of over $1,000/tonne on excess production of the greenhouse gas from the fossil fuel sector on Tuesday.
Read MoreSouth Korean securities firm taps into biochar, carbon removal business
One of the largest securities firms in South Korea has secured a new biochar contract that could reduce emissions from the livestock sector, as it aims to make a foray into the international voluntary carbon market.
Read MoreKorean steelmaking giant urged to release blast furnace closure plans, help meet 1.5C target
South Korean steelmaking major POSCO should announce a plan to close down three blast furnaces by 2030 to help limit global warming to 1.5C above pre-industrial levels, a report has urged.
Read MoreBRIEFING: Singapore, India, and others drive ‘big year’ for Asian voluntary carbon markets
Landmark policy announcements across markets including Singapore, India, and other countries have ensured a “big year” for Asian voluntary carbon markets, according to attendees at the IETA Asia Climate Summit, which took place this week in New Delhi.
Read MoreKorean business lobby teams up with govt agency to promote forest carbon credits
A major trade group in South Korea has teamed up with a government agency to promote the development of forest-based carbon offsets in the country.
Read MoreSouth Korean shipbuilder teams up with industry body to decarbonise shipping
One of the largest shipbuilders in South Korea has teamed up with a clean shipping industry body to work on solutions that can decarbonise the sector, particularly ammonia and onboard carbon capture systems.
Read MoreSK Market: Korean October CO2 auction oversubscribed, clears above 10,000 won
South Korea’s latest monthly CO2 permit auction was again oversubscribed, with analysts expecting allowance prices to remain stable around the 10,000 won ($7.35) level in the near term.
Read MoreGGGI launches facility to catalyse $500 mln for ITMO purchases by 2030
The Global Green Growth Institute (GGGI) has launched a facility to support scaling of international carbon trading under Article 6 of the Paris Agreement and catalyse up to $500 million solely for the transactions of Internationally Transferred Mitigation Outcomes (ITMOs) by 2030, it announced Wednesday.
Read MoreAPAC needs $89 trillion in energy sector investment to achieve net zero, report says
The Asia Pacific region will need energy sector investments of around $89 trillion from now to 2050 to achieve net zero by mid century, according to a report released Wednesday.
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