Key Asian banks see progress in establishing decarbonisation pathways, but more action needed
Banks in Japan, Singapore, and South Korea have made strides in developing decarbonisation strategies and establishing climate-related objectives, but more decisive action is needed to align with global climate commitments, a report has found.
Read MoreMajor Asian nations must abandon LNG to decarbonise shipping sector -report
Countries including China, Japan, and South Korea must abandon the use of liquefied natural gas (LNG) as a bridge fuel in order to fully decarbonise their shipping sector, a report released Wednesday said.
Read MoreSouth Korea to provide preferential loans for low-carbon investments
South Korea is seeking to provide preferential loans to companies that make preemptive investments in projects with great emissions reduction potential.
Read MoreKorean startup to create carbon credits by electrifying Cambodian tuk-tuks
A Korean mobility startup has tapped into Cambodia’s emerging carbon market through a project that can electrify gas-guzzling tuk-tuks in the Southeast Asian country.
Read MoreSouth Korea bets on OECMs in updated biodiversity plan to achieve marine conservation target
South Korea has published its updated National Biodiversity Strategy and Action Plan (NBSAP), outlining actions to scale up nature conservation efforts, including expanding Other Effective area-based Conservation Measures (OECMs) to bridge the country’s huge gap in marine protection.
Read MoreSouth Korea national oil company to set up CCS business
South Korea’s national oil and gas company has decided to set up a carbon capture and storage (CCS) business, with plans to promote projects both at home and abroad, local media reported.
Read MoreSouth Korean companies set out to decarbonise asphalt production
South Korean companies are developing methods to make the asphalt paving process more environmentally friendly, which can help reduce emissions in the transportation sector.
Read MoreAsian CBAMs inevitable, but regional governments should collaborate, experts say
Asian equivalents to the EU’s Carbon Border Adjustment Mechanism (CBAM) will inevitably emerge as a way to ensure cash stays in their respective countries that would otherwise go to Europe, experts told a conference Thursday.
Read MoreSK Market: August auction undersubscribed ahead of compliance deadline, price growth potential seen limited
South Korea’s latest monthly CO2 permit auction was undersubscribed even with the annual compliance deadline rapidly approaching, with analysts expecting the permit price to remain at relatively low levels due to a lasting oversupply in the market.
Read MoreKorean financial firm to provide deposit services for upcoming ETS consignment trading platform
A Korean financial institution is planning to provide deposit services for a planned consignment carbon trading platform that will likely be added to the country’s national emissions trading scheme next year, local media reported.
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