Indonesia marked a significant milestone on Friday as President Joko Widodo launched the construction of the country’s first carbon capture, utilization, and storage (CCUS) project in West Papua province. This pioneering project, operated by global energy major BP (LON: BP), has the potential to sequester up to 1.8 gigatons of carbon dioxide (CO2), according to a statement…
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As Kenya hosts the inaugural climate change summit, there has been much talk about carbon credits and their sale. What are they, who has them, how and where are they traded and how do they contribute to reducing the effects of climate change?
How Carbon Credits, Carbon Offsets and Taxes are Priced Between talk of carbon credits, carbon offsets, and of course carbon emissions, it can feel like carbon is everywhere. But unless you understand carbon pricing, you’ll never understand how – and why – carbon markets work the way they do. Let’s break down carbon pricing, starting with a simple…
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Singapore and Indonesia have entered into a Memorandum of Understanding (MoU) regarding climate change and carbon credits. Currently, Singapore is the center of commodity trading in Asia. Indonesia is among the biggest carbon credit suppliers in the region. It is also home to one of the earth’s biggest rainforests. The agreement between the two countries allows them…
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Occidental Petroleum is leading the global charge to vastly expand the use of technologies that suck up carbon dioxide. The failure of company’s biggest-ever bet shows the challenges ahead. By Natasha White, Akshat Rathi, and Kevin Crowley The world wants to master the process of corralling carbon, and Occidental Petroleum Corp. is building a futuristic machine on the dusty plains of…
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In theory putting a price on carbon emissions should incentivise businesses to stop polluting. So why have carbon markets failed to achieve their goal of reducing global emissions?
Yuka Obayashi A man works at the Tokyo Stock Exchange after market open in Tokyo, Japan, Oct. 2, 2020. REUTERS/Kim Kyung-Hoon/ TOKYO, Oct 11 (Reuters) – Japan’s Tokyo Stock Exchange (TSE) started trading carbon credits on Wednesday, as the world’s fifth-largest carbon dioxide (CO2) emitter put in place a key element of its strategy to…
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Dr Sultan Ahmed Al Jaber, COP28 President-Designate and UAE Minister of Industry and Advanced Technology, on Monday delivered the keynote address during the ADIPEC 2023 Opening Ceremony, stating the energy industry “can and must help drive the solutions”. ADIPEC, the world’s largest energy exhibition and conference, opened on Monday, rallying industries and diverse actors around…
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A quarter of global emissions are now covered, and the share is rising fast IF GLOBAL WARMING is to be limited, the world must forget about fossil fuels as fast as possible—that much almost everyone agrees upon. How to do so is the complicated part. Economists have long favoured putting a price on carbon, a…
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In theory putting a price on carbon emissions should incentivise businesses to stop polluting. So why have carbon markets failed to achieve their goal of reducing global emissions? The Inadequacy of Carbon Pricing: Why Carbon Markets Have Failed to Reduce Global Emissions In theory, putting a price on carbon emissions should incentivise businesses to stop…
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