News

Guyana, which has pioneered offshore oil exploration, is leveraging its inland forests to access carbon markets, a business that the government sees as more profitable than mining or agriculture, Vice President Bharrat Jagdeo said.

Europe’s carbon market and national scheme for heating and transport brought Germany a record 13.2 billion euros in 2022, the Federal Environment Agency (UBA) said on Tuesday.

China’s national emissions trading scheme (ETS), the world’s largest carbon market covering a seventh of emissions globally, hit 10 billion yuan (US$1.4 billion) in total transactions on Thursday.

The New Zealand government raised the country's 2023 Emissions Trading Scheme (ETS) carbon allowance price and volume settings on December 15 to levels significantly below those advised by its national climate body.

The Hong Kong stock exchange has carried out the first batch of carbon credit trades on its new voluntary carbon market in the first four weeks since launch, joining a handful of Asian exchanges in tapping opportunities resulting from governments’ push to

Australia’s carbon trading market has been booming over the past week with traded volumes leaping more than 50%, as big corporates race to secure offsets ahead of Labor’s pending industrial emissions reforms.

According to a new report from Carbon Tracker, ‘Put a Price on It,’ Japan must replace the current carbon price of $2.6/tonCO2 with a minimum price of at least $30/tonCO2 to prevent gas to coal switching and accelerate energy transition.

Washington state’s estimated revenue from a new carbon credit system for the first five years has increased by $1.6bn, because of rising credit values and plans to auction a portion of future allowances.

Australia’s Climate Change Authority recently suggested Australia establish a transparent national carbon market and hint at integrating voluntary and compliance carbon markets.

The City of New Westminster in western Canada recently received 26.4 million Canadian dollar ($20.6 million) after selling the credits it had earned under the BC Low Carbon Fuel Standard (BCLFS).