News

The winner of the $100 million XPRIZE Carbon Removal competition has been announced. Houston-based startup Mati Carbon has taken the top prize with $50 million for its use of Enhanced Rock Weathering (ERW) technology.

Vietnam is set to launch a pilot carbon credit trading scheme this year, with regulations still under development regarding the percentage of emissions that businesses can offset using carbon credits.

Singapore is steadily expanding its network of carbon credit trading partners, having signed cooperation agreements with both Peru and Chile within a week.

Pressure is mounting within the European Union to ease climate regulations, with influential lawmakers calling for a lower 2040 emissions target.

The International Maritime Organization’s Marine Environment Protection Committee (MEPC) kicked off a five-day meeting on April 7, focusing on technical regulations, energy efficiency, and pollution in the shipping industry.

To stimulate its carbon trading market, Thailand is revising regulations to relax cryptocurrency oversight. The proposed changes would allow the tokenization of carbon credits, carbon allowances, and renewable energy certificates using blockchain.

Singapore’s Minister for Manpower and Second Minister for Trade and Industry announced that Singapore has signed carbon credit transfer agreements with three countries to fulfill its Nationally Determined Contributions (NDCs) under the Paris Agreement.

Global carbon emissions are expected to reach a new high in 2024, while the growth of the carbon credit market has stalled. However, the outlook for 2025 remains optimistic, as countries and companies continue to raise their emission reduction targets.

Singapore and Malaysia announced the establishment of the Johor-Singapore Economic Zone (JS-SEZ) at the border of the two countries. This initiative aims to attract more investments and create more job opportunities.

Tesla earned nearly 34 million carbon credits last year, ranking first in carbon credit sales. However, despite the growing trend toward vehicle electrification, the U.S. auto industry still faced a massive carbon emissions deficit last year.