Australian government commits to long term emission reductions

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 carbon trading to go to new independant body

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 […]

Vic to build worlds largest photovoltaic solar power station

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 […]

Carbon Market to be worth $100 billion dollars

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 […]

Greece will cover its commitments under the Kyoto Protocol

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 to list on ASX

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 […]

Carbon futures and options contracts available

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 […]

European emissions down

Total greenhouse gas emissions in the EU-27, excluding emissions and removals from land-use, land use change and forestry (LULUCF), decreased by 0.7 per cent between 2004 and 2005 and by 7.9 per cent between 1990 and 2005, according to the European Energy Agency. Emissions decreased strongly in the new Member States during the 1990s, but […]