The Federal Government is reviewing all its climate change related spending programs, worth hundreds of millions of dollars. The Government is assessing whether they will be needed after Australia has established an emissions trading scheme. The aim of the review, according to Finance Minister Lindsay Tanner, is to assess whether the existing patchwork of schemes […]

An increase in renewable energy generation will ensure that Australia complies with its Kyoto Protocol target, the Federal Government has announced. The Department of Climate Change published a report revising the country’s projected greenhouse gas emissions, taking into account planned measures by the Labor government. Climate Change Minister Penny Wong said the analysis shows Australia […]

Climate Change Minister Penny Wong has reiterated the Government’s commitment to a long term target as Professor Ross Garnaut released his interim report in the lead up to the introduction of an emissions trading scheme. “Garnaut’s report, his interim report and his final report are an enormously valuable contribution to government policy,” said Wong. “In […]

Regulation of the carbon market should be taken out of the hands of UN bureaucrats and transferred to a new independent body drawn from central banks and stock exchanges, according to an influential group of legislators. The proposal was among several affecting the carbon market floated at a meeting in Brasilia of the Globe (Global […]

The world’s largest photovoltaic solar power station will be built in northern Victoria, after a decision by TRUenergy to invest $290 million in renewable energy company Solar Systems to build the 154 MW solar power station. Construction is due to begin in 2009, once the site has been finalised. The investment by TRUenergy follows on […]

The global carbon market will be worth €63 billion (A$100 billion) this year, while traded volume will amount to 4.2 billion tonnes of CO2-e, up 56% on 2007, according to a report compiled by Point Carbon. Outlook for 2008 reported that the market for allowances in the EU ETS will be worth around €46 billion […]

The Greek Environment Minister has approved the NAP for emission trading in the period 2008-12, national media reported. Greece will more than cover its commitments under the Kyoto Protocol, due to the approved NAP and other measures taken by the government, Environment Minister George Souflias said, according to news agency ANA-MPA. From 2008 through 2012, […]

Sydney-based carbon credit firm Greenair Ltd has announced it is seeking to raise up to $100 million through a share offering on the Australian Stock Exchange within the next 12 months. Greenair, which has signed contracts for carbon credit projects in Asia, the Pacific and South America, was one of the first Australian companies to […]

The New York Mercantile Exchange (Nymex) has announced that it will introduce the first batch of carbon futures and options contracts in March as part of its Green Exchange initiative. The first slate of contracts, which will be launched on 16 March for trade the next day, will include EUA futures and options, as well […]