What's going on in world carbon markets
22 Nov 2013
The Carbon Reduction Fund in Australia, backloading in Europe, markets linking in North America and the first carbon auction in China ... Westpac's carbon desk reviews the international carbon markets:
Australia
The Government has introduced legislation for the repeal of the Carbon Price Mechanism, and released the Terms of Reference for the Emission Reduction Fund. The 2012/13 LEPID was published.
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Food giants’ climate plans lack credibility, new report finds
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Food firms are inflating their climate targets with carbon removals and weak deforestation claims, according to a report from the NewClimate Institute and Carbon Market Watch.
Environmentalists criticise Trump administration push for new oil and gas drilling in Alaska
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Top Trump administration officials — fresh off touring one of the country’s largest oil fields in the Alaska Arctic — headlined an energy conference led by the state’s Republican governor on Tuesday that environmentalists criticized as promoting new oil and gas drilling and turning away from the climate crisis.
China's ecology ministry to set up 100 new key labs in eight research fields by 2035
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The Ministry of Ecology and Environment of China plans to establish around 100 new key laboratories covering eight major research areas over the next ten years to enhance the country's environmental science and technology level.
India calls for more climate contributions ahead of key meeting
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India has put forth its expectations on the ideal “Baku To Belem Roadmap to 1.3T” ahead of the Bonn Climate Meeting which begins on June 16, stating that without sufficient climate finance, even proposed nationally determined contributions will not materialise, leave alone any ambitious future NDCs.
EU asks 44 oil and gas producers to provide new CO2 storage solutions
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The European Commission said on Thursday it had asked 44 oil and gas companies to contribute to the EU's collective target of storing at least 50 million tonnes of CO2 per year by 2030, as part of the bloc's aim to achieve climate neutrality.
From sovereignty to sustainability: United Nations Ocean Conference
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While ocean governance was once designed to protect the marine interests of states, nowadays it must also address the numerous climate and environmental challenges facing the oceans.
Vanuatu criticises Australia for extending gas project while making COP31 bid
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Vanuatu’s climate minister has expressed disappointment over Australia’s decision to extend one of the world’s biggest liquefied natural gas projects and said it raises questions over its bid to co-host the COP31 summit with Pacific nations.
EU science advisers slam Brussels’ weakened 2040 climate plans
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Using international carbon credits in place of domestic action undermines climate efforts, scientific advisory board says.
US: Clean energy project cancellations top $14 Billion so far in 2025
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Businesses have pulled the plug on big projects amid Trump’s retreat on climate action. But plenty remain in the pipeline, awaiting a Congressional decision on tax credits.
India, a major user of coal power, is making large gains in clean energy adoption
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One of the most carbon-polluting countries, India is also making huge efforts to harness the power of the sun, wind and other clean energy sources.
