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China to cut coal from new green bond standards – sources

Two sources with direct knowledge of the situation say China's central bank, which regulates financial institution debt issuance and whose 2015 guidelines were adopted by other market regulators, has already revised the eligibility list. One of the people said the list is due to be published later this month. The People's Bank of China did not immediately respond to...

China completes new 70MW floating solar PV project on old coal area

French-based Ciel & Terre International has announced that its 70 MW floating solar power plant located on top of an old coal mining area in the province of Anhui, China, is now officially complete after several months of tests and monitoring. Built atop a former coal-mining area in the Yongqiao district, Suzhou city, the new project will primarily be used...

EDF Renewables strengthens its presence in distributed solar power in China with its partner Asia Clean Capital

EDF Renewables in China is acquiring a majority stake in a 77 MWp rooftop PV assets portfolio from Asia Clean Capital (ACC), one of China’s biggest firms in this segment, for local and multinational companies and industries. For the past year, ACC and EDF Renewables have been in partnership in the construction and operation of a shared B2B portfolio of...

Beyond China: A Look at Japanese Banks’ Addiction to Coal

Japan’s three largest banks, MUFG, Mizuho, and SMBC Group, are fueling a coal power boom in Japan and abroad. between 2016 and 2018, these three banks provided a combined $7.4 billion in loans and underwriting services to 30 top global coal power producers, including J-POWER and KEPCO. Research published in December 201810 also found that Mizuho, MUFG, and SMBC...

Carbon afforestation partnership announced

Air New Zealand, Contact Energy, Genesis Energy and Z Energy have today announced the formation of Dryland Carbon LLP (Drylandcarbon), a limited liability partnership that will see the four companies invest in the establishment of a geographically diversified forest portfolio to sequester carbon.... An excerpt from Woodweek

China’s State Development & Investment Corporation quits coal

China’s State Development & Investment Corporation (SDIC) has finalised its complete exit of the coal industry and will remove coal-related investments that have been one of its leading profit contributors. SDIC has US$1.46b of assets under management... An excerpt from AsianPower

EEX Reconfirms Its Support For The Development Of National ETS In China

In a 3-day technical workshop, EEX has engaged with staff of Shanghai Environment and Energy Exchange (CNEEEX) and other Chinese stakeholders, sharing its experience in the operation and supervision of an emissions trading platform. The workshop was organized by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in cooperation with CNEEEX. In addition to EEX, the German Emissions Trading Authority (DEHSt)...

China and Russia ink deals to build reactors for Tianwan and Xudabao nuclear plants

Russian state nuclear corporation firm Rosatom will construct four VVER-1200 units for the two Chinese plants. According to a report by the World Nuclear Association, the contract is valued at more than $2.98b (CNY20b).... An excerpt from AsianPower

Energy analysts forecast ‘the end of coal’ in Asia as Japanese investors back renewables

Japanese banks and trading houses are walking away from coal investments, selling out of Australian mines and scrapping plans to build coal-fired power. The most recent proposal likely to be shelved, a 1.3GW coal-fired power station in Akita, in Japan’s north-west coastal region, follows the cancellation of two others earlier this year. Sojitz Corporation this week announced further divestment from...

[Australia] Questions raised over how $1bn of emissions funding have been allocated

"Scott Morrison recently announced the Coalition would inject another $2bn into the emissions reduction fund.. but serious questions have emerged about $1bn already allocated. problems with how emissions cuts from projects that involve managed regrowth of native forests and vegetation have been calculated. National emissions have risen each year since it was introduced." An excerpt from Guardian"

South Korea-funded solar energy project brings power to Honduras’ rural poor

A solar energy project financed in large part by South Korea's export credit agency is bringing electricity to thousands of poor families in six of Honduras' 18 departments, officials in this capital said. South Korea's Export-Import Bank of Korea (Korea Eximbank) is providing $48.1 million in funding for the project, with the Honduran government pitching in with an additional $3...

Holy grail’: how textile recycling can help slash emissions, pollution and landfill

"Textiles account for 10% of global carbon emissions. The industry is the world’s second-biggest industrial polluter, behind oil. BlockTexx.. The focus will be on recycling commercial fabrics – old towels and bedsheets from hotels and hospitals, work uniforms and unwanted clothing not given to charities. “If it’s ripped or torn or stained then you have to put that into...

South Korea could waste over US $100 billion on outdated coal technology, crippling KEPCO

"Our below 2°C scenario finds South Korea has $106 billion of potential stranded asset risk – the highest of the 34 countries modelled globally. The figure represents the difference between the cash flow utilities — i.e. Korea Electric Power Corporation (KEPCO), generation companies and private generators may receive under the current business-as-usual (BAU) scenario; and what they would receive...

[Australia] Wind, solar farms to be blacked out for up to 100 days due to grid upgrade

"Wind and solar farms in north west Victoria and south-west New South Wales have been warned that they face up to 100 days or more of zero output over the next year because of the need to upgrade the local transmission and distribution networks." An excerpt from Renew Economy

President Moon calls for pan-national organization headed by Ban Ki-moon to tackle fine dust

"President Moon ordered the formation of a pan-national organization to solve the fine dust crisis. According to Cheongwadae spokesperson Kim Eui-kyeom, the top office will look into whether ex UN secretary general Ban Ki-moon would be able to head that organization." An excerpt from Arirang

[EU-Korea] EU to assist Climate Action

"We are investing € 2.4 million (KRW 3.1 billion) into the foreseen actions over the next three years. This follows already rolled out projects that facilitated cooperation on the Korean emissions trading system, urban cooperation and implementation of other commitments made under the Paris Agreement." An excerpt from Delegation of the European Union to the Republic of Korea"

China: New Guidance to Implement Blockchain in Agriculture Finance Sector

The Chinese government has issued the “Guiding Opinions on Rural Service Revitalization of Financial Services,” according to an official announcement on Feb. 11. The new framework is part of a plan to improve the efficiency of financial services for the country’s rural revitalization program.... An excerpt from Cointelegraph

KEPCO and GE Sign $320 Million Contract to Build an HVDC Energy Highway to Power South Korea’s Seoul City

Strategic mega deal contract to bring 4 GW power to Seoul’s metropolitan area. The project is expected to be completed by end of 2021... An excerpt from GE Press