Oil and gas will remain as leading sources of energy for decades to come on the back of a lagging energy transition, major industry players said at the Energy Asia conference held in Malaysia’s capital Kuala Lumpur this week.
Continue reading “Oil and gas to persist for decades”Can carbon markets get us to net zero?
Scientists, policymakers and others do agree on one thing: while companies should focus primarily on reducing their emissions, many are unlikely to eliminate them entirely for years to come – which leaves carbon markets an essential role.
Continue reading “Can carbon markets get us to net zero?”Voluntary carbon market infrastructure
In the fight against climate change, carbon markets are an important element of the drive to reduce emissions. Yet, while there is agreement about the desired outcomes of a functional carbon market, there is less consensus on the path, standards and infrastructure that will get us there.
Continue reading “Voluntary carbon market infrastructure”Singapore to become carbon market hub
In 2019, Singapore became the first country in south-east Asia to put a price on carbon – which companies will next year be able to offset by purchasing carbon credits. Last year, it became the first in the region to develop a carbon exchange. Also, it has signed a string of deals with developing countries on carbon credit collaboration.
Continue reading “Singapore to become carbon market hub”Lack of infrastructure for renewables
Scientists agree that the world must rapidly transform the global energy system, ditching fossil fuels in favour of cleaner sources of power such as wind and solar in order to limit global warming and avoid the catastrophic effects of climate change.
Continue reading “Lack of infrastructure for renewables”World bank to insure carbon credits
The World Bank’s insurance branch is working on plans to protect carbon offsetting projects against political risks in developing countries as a growing number of governments seek to impose new rules onto the market.
Continue reading “World bank to insure carbon credits”Wind and solar overtake fossil fuels in EU
Wind and solar produced more energy in the EU in May than all fossil fuels combined, as stated by energy think tank Ember. This is the first full month on record where wind and solar produced more power – generating almost a third of the EU’s electicity. Fossil fuels produced a record low of 27 per cent.
Continue reading “Wind and solar overtake fossil fuels in EU”Irish GHG emissions by sector
According to a new report from the Irish Central Statistics Office, agriculture accounted for 38% of greenhouse gas emissions in 2020, while households were the second largest emitters – responsible for more than a quarter of all emissions.
Continue reading “Irish GHG emissions by sector”Asia’s largest coal carbon capture plant
China Energy Investment Corporation has put online a carbon capture project at one of its thermal coal power plants which will be the biggest in Asia. The carbon capture, utilization and storage (CCUS) facility at the Taizhou coal power plant will have an annual capacity to store 500,000 tons of carbon dioxide.
Continue reading “Asia’s largest coal carbon capture plant”Global carbon pricing raised record $95 bln
Countries raised a record $95 billion last year by charging firms for emitting carbon dioxide, but prices are still too low to drive changes needed to meet Paris climate accord targets, the World Bank said in a recent report.
Continue reading “Global carbon pricing raised record $95 bln”