News

Indonesia's efforts to decarbonize the country's power generation sector took a significant step forward on Feb. 22 when the government initiated the first phase of mandatory carbon trading for coal-fired power plants.

Guyana, which has pioneered offshore oil exploration, is leveraging its inland forests to access carbon markets, a business that the government sees as more profitable than mining or agriculture, Vice President Bharrat Jagdeo said.

Indonesia plans to issue emission quotas for some coal-fired power plants this month as a first step toward developing a local carbon trading market, energy officials said last week.

Tesla’s carbon credit sales reached a new high in 2022, increasing 47% year over year in the fourth quarter, the company reported.

Analysts have revised up their average price forecasts for EU carbon permits for the next three years in anticipation of improving economies in Europe as energy prices fall from record highs.

The European Parliament’s environment committee may vote on key reforms of the EU ETS in February, with a parliamentary vote due in March, MEP Pieter Liese said on Thursday.

Europe’s carbon market and national scheme for heating and transport brought Germany a record 13.2 billion euros in 2022, the Federal Environment Agency (UBA) said on Tuesday.

China’s national emissions trading scheme (ETS), the world’s largest carbon market covering a seventh of emissions globally, hit 10 billion yuan (US$1.4 billion) in total transactions on Thursday.

Bursa Malaysia launched the country’s first voluntary carbon market (VCM) on December 9, with the first carbon credit auction to take place next March.

The Hong Kong stock exchange has carried out the first batch of carbon credit trades on its new voluntary carbon market in the first four weeks since launch, joining a handful of Asian exchanges in tapping opportunities resulting from governments’ push to