Topics tagged with 'Carbon Credits'

Planetary reveals world’s first ocean-based carbon removal protocol
3 Mar 2023
Planetary Technologies has published a measurement, reporting, and verification (MRV) protocol for ocean-based carbon removals, hoping it provides a major boost to the market of marine carbon removals.

Parliament unites to stop gifting of carbon credits to big emitters
22 Feb 2023
Parliament has unanimously supported the first reading of an amendment bill that puts an end to the over-allocation of carbon credits to trade-exposed industries. The current system of “industrial allocation” has seen some of the country’s biggest emitters receiving a $60 million annual windfall.

Revised carbon bill advances in Washington; timber group leery
20 Feb 2023
The US House Agriculture and Natural Resources Committee on Friday endorsed allowing the state to sell carbon offsets, but not at the expense of logging or farming on public lands.

Australian carbon market confusion as offsets take another hit
17 Feb 2023
The Australian Climate Council has called for the federal government to push to pause on new coal and gas projects as debate intensifies over Labor’s proposed safeguard mechanism reforms and as the credibility of carbon offset schemes is once again cast into doubt.

Apple and others ignoring climate pledges
14 Feb 2023
The net-zero emissions plans of 24 multinational companies are not only largely misleading, but also distract from a failure to cut climate-wrecking emissions in line with the Paris climate goals.

Global carbon markets value hit record $909 billion last year
8 Feb 2023
The value of traded global markets for carbon dioxide (CO2) permits reached a record 850 billion euros ($909 billion) last year, analysts at Refinitiv said on Tuesday.

Price of NZUs drifting slowly lower
30 Jan 2023
NZUs closed on the Commtrade platform at the end of trade on Friday at $72.50, down from a high of $88.50 on the secondary market towards the end of last year.

Best by the rest...
27 Jan 2023
In our weekly round-up of the best climate coverage in local media: Dame Anne Salmond on New Zealand’s “fatally flawed” climate strategy; a fact check of claims that Kiwi farms are the greenest; and why the country needs an e-bike rebate.

Australian councils told to cut emissions rather than spend millions on overseas carbon offsets
25 Jan 2023
Renewed questions are being asked about Australian councils’ use of international projects to offset local carbon emissions, off the back of a Guardian investigation that found 90% of rainforest credits issued by one leading company were likely worthless.

Africa has a major new carbon market initiative - what you need to know
24 Jan 2023
The Conversation - Climate finance for the African continent got a boost at the 2022 United Nations Climate Conference (COP27), with the launch of the African Carbon Markets Initiative. This aims to make climate finance available for African countries, expand access to clean energy, and drive sustainable economic development.

MfE sees no need to investigate NZU price drop prior to govt announcement
20 Dec 2022
The Ministry for the Environment won’t be investigating a significant drop in the price of NZUs on the secondary market and the first drop in price at an ETS auction since the auctions began.

Cabinet ETS decision a “hospital pass” for incoming government
19 Dec 2022
A former head of the International Energy Agency’s climate change unit has described the Cabinet’s rejection of the Climate Change Commission’s recommended changes to ETS settings as a “hospital pass” for the incoming government.

NZ meets 2020 decarbonisation target with Kyoto credits
19 Dec 2022
New Zealand is meeting its commitment to reducing the country’s 2013-2022 emissions by 5% compared to 1990 levels by using 6.5 million Kyoto protocol credits.

Best by the rest...
16 Dec 2022
Carbon market reforms mean big emitters may be eligible for more free credits; should cruise ships be banned from Milford Sound? and the slow pace of targeting agricultural production to a lucrative overseas market which puts a high value on sustainability.

EV charging facility owners in Hong Kong can soon make money by selling carbon credits
13 Dec 2022
Hong Kong owners of electric vehicle (EV) charging infrastructure will soon be able to earn revenue by selling carbon credits generated by their facilities through the city’s bourse, according to a local provider of charging equipment and software.

International biodiversity conference must lead to law reform in NZ: expert
8 Dec 2022
New Zealand must do more than simply participate at Montreal’s UN Biodiversity Conference (COP15) taking place this week - any agreements must translate to law and policy reform here, according to a local expert.

ETS auction clears at $79.00
7 Dec 2022
The final ETS auction of the year cleared at $79.00 this morning.

London exchange lists its first carbon fund
7 Dec 2022
The London Stock Exchange is launching its first fund on its Voluntary Carbon Market (VCM), which aims to channel funding to climate mitigation projects that generate carbon credits, it said in a statement Monday.

Forestry ETS changes pass
5 Dec 2022
Among the bills to pass into law in Parliament’s recent Urgency session was the extension of the penalty transition regime for small forestry owners who remove trees.

Guyana sells $750 mn of carbon credit to US oil firm Hess
5 Dec 2022
U.S.-owned Hess Corporation, a consortium partner in Guyana’s offshore oil sector, has agreed to buy $750 million worth of carbon credits from the South American nation in the next decade as it works to ensure Guyana’s almost intact Amazonian rainforests remain standing for decades to come, officials said Saturday.

Price of carbon down 6.8% over past fortnight
2 Dec 2022
With the final ETS auction of the year set to take place next Wednesday, the price of carbon on the secondary market has dropped by 6.8% since hitting an all-time high of $88.50 on November 14.

Opposition parties welcome on-farm sequestration policy
2 Dec 2022
Opposition parties have welcomed the government’s plan to credit all on-farm carbon sequestration, rather than only riparian planting.

EU climate chief defends plans for 'carbon farming'
2 Dec 2022
The European Union's top climate official on Wednesday dismissed criticism from environmental groups over its proposal to incorporate carbon removal methods into its climate plans, insisting the plan won't undermine the bloc's efforts to tackle global warming.

Govt announces changes to on-farm sequestration strategy
1 Dec 2022
The government has announced it will work with the primary sector to develop an on-farm carbon sequestration strategy.

The interwoven fortunes of carbon markets and indigenous communities
18 Nov 2022
Across the world, private investors, governments, NGOs and businesses are increasingly purchasing carbon credits from REDD+ and other offsets projects to negate their own emissions – but this increased interest from international carbon markets comes with risks.

Climate disaster aid scheme ‘Global Shield’ launched at COP27
15 Nov 2022
A G7-led plan dubbed “Global Shield” to provide funding to countries suffering climate disasters has been launched at the United Nations COP27 summit, although some questioned the effectiveness of the planned scheme.

Rainforests emerge as key sources of carbon credits in emerging markets
15 Nov 2022
In the fight against climate change, forests are vital carbon sinks, absorbing twice as much carbon as they produce each year globally. Tropical rainforests play a particularly vital role, storing an estimated 25% of the world’s terrestrial carbon.

Govt considering setting up its own secondary carbon market
14 Nov 2022
By Ian Llewellyn - Energy & Environment | The government has asked for thoughts on it running a centrally-cleared secondary carbon market as another option to existing markets.

Japan delays carbon tax reform to curb living costs
9 Nov 2022
Japan is delaying plans to revise how it taxes carbon, the Nikkei newspaper reported, potentially slowing efforts to wean itself off fossil fuels.

Why it's so hard to put a price on carbon
27 Oct 2022
In the past decade, the phrase “put a price on carbon” has gathered steam around the globe. And carbon pricing has been hailed by scientists, economists, and business leaders as one of the most cost-effective tools to decarbonize economies.

First Australia carbon budget balances climate risks
25 Oct 2022
For the first time, the Australian government must work within a financial budget and a carbon budget. Treasurer Jim Chalmers has confirmed his first budget, due out on Tuesday, will include a major analysis of the impact of climate on Australia's economy.

Environment Committee calls for submissions on Climate Change Response Amendment Bill
20 Oct 2022
The Environment Committee is calling for submissions on the Climate Change Response (Extension of Penalty Transition for Forestry Activities with Low Volume Emissions Liabilities) Amendment Bill.

India gets ready to launch a national carbon market
20 Oct 2022
The Indian government has green-lighted the creation of a national carbon market that will be key to decarbonising heavy industry and helping shape international carbon trading.

ETS carbon stockpile grows by nearly 8 million tonnes over past year
19 Oct 2022
The stockpile of carbon units in the ETS grew by close to 8 million NZUs from September 2021 to September 2022.

Carbon credits have struggled to win market approval — until now
18 Oct 2022
Carbon credits have struggled to gain a foothold among countries and companies. But Deutsche Bank has just lit a fire under them — specifically, “sovereign credits” issued by rainforest nations. The aim is to minimize deforestation.

Carbon credits serve to greenwash business-as-usual and won’t cut emissions: Australia Institute
18 Oct 2022
A focus on carbon credits may serve to hamper Australia’s efforts to reduce its emissions, warn researchers from The Australia Institute.

Forestry interests hit out at minister's comments
17 Oct 2022
Climate Change minister James Shaw’s comments that the government could become the exclusive purchaser of carbon forestry credits have been met with widespread backlash from forestry interests.

Best by the rest...
14 Oct 2022
In our weekly round-up of the best local climate coverage: Stuff fact checks fossil fuel lobby claims; Newsroom crunches the numbers on the government's agricultural emissions proposal; and three unlikely activists have had their charges dropped in court in the name of climate change.

Carbon credits key to industrial emissions in Australia
11 Oct 2022
Proposed laws to reward Australia's biggest greenhouse gas emitters for reducing pollution will be introduced to parliament next month to support ambitious national targets.

Concerns ETS changes could rapidly accelerate carbon price and risk ‘carbon leakage’
10 Oct 2022
The BusinessNZ Energy Council (BEC) says the Emissions Reduction Scheme should be left to do its job.

Countries back rewritten EU plan to raise carbon market cash
7 Oct 2022
European Union countries on Tuesday agreed an alternative to an EU plan to use a carbon market reserve to help finance their exit from Russian gas, after fears the original proposal would undermine the bloc’s main climate change policy.

NZUs down more than 10% on last month’s record high
4 Oct 2022
The price of NZUs on the secondary market have fallen more than 10% since hitting a high of $87.30 on the CommTrade platform in the lead up to last month’s ETS auction.

UN standard-setters turn their attention to carbon removal
4 Oct 2022
The spotlight on carbon removal is getting brighter. UN standard-setters have begun a crucial process to lay the groundwork for removals under the Paris Agreement. This has gone largely unnoticed by the carbon removal community, which has been mainly focusing on the voluntary carbon market.

More than 90% of economists in survey support carbon dividend
29 Sep 2022
More than 90% of economists who took part in a New Zealand Association of Economists survey support redistributing the proceeds from the Emission Trading Scheme auctions through a dividend to household rather than the current policy of using the money for targeted decarbonisation projects.

Four ways carbon crediting is improving
28 Sep 2022
The age-old mantra with carbon credits is that some are good, some are bad and it’s hard to know which is which. The core issue is that we need to encourage the right kinds of projects that are actually reducing emissions and stop funding the ones that aren’t.

Countries try to dodge EU's carbon market fundraising plan
27 Sep 2022
European Union countries are hunting for alternatives to an EU plan to use a carbon market reserve to help finance their exit from Russian gas, as some fear the proposal would undermine the bloc’s main climate change policy.

Offsets aflame: The risk of wildfires to tree-planting carbon credits
23 Sep 2022
Recent fires at reforestation projects raise the question, can the carbon-capture claims of a booming offset industry hold up?

Christchurch City Council registers for ETS credits
22 Sep 2022
Christchurch City Council has made its first application for carbon credits under the Emissions Trading Scheme, voting last week to register about 300 hectares of regenerating native forest in Te Oka Reserve on Banks Peninsula.

Salesforce will launch carbon credit marketplace
22 Sep 2022
Business software provider Salesforce is bringing a new platform to the carbon market, where businesses will be able to buy carbon credits from a trusted partner with a third-party verification.

EU governments carving out €20 bn in carbon market exemptions for shipping
22 Sep 2022
Government ministers are in the process of carving out €20 billion worth of exemptions for the shipping industry in the new maritime carbon market (ETS), according to a new analysis.