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Newsflash

China to have world's 2nd largest carbon trading scheme by 2014

24th January, 2013

China will have the world's second largest carbon trading scheme by 2014, or twice as big as Australia's regime, a latest report showed Thursday.

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Carbon price of $29 'not implausible', says Blair Comley

20th January, 2013

THE head of the federal climate change department says it is "not implausible" the European carbon price could rise to $29 a tonne by mid-2015, when Australia's emissions trading scheme begins.

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Forest project issued CO2 credits for California market

Project developer Finite Carbon announced last week that it has registered a project that has issued 200,000 offsets that may be eligible for use in California's cap-and-trade system. The project, which is located on 19,118 acres in eastern Maine, is the first registered project to be located outside of California that uses project guidelines for improving forest management (IFM), a method of improving forest carbon stocks.

Forest carbon protection is among four project types under the Climate Action Reserve (CAR) offset registry that California regulators have allowed to generate carbon credits that emitters can use to meet the state's mandatory carbon limits. In addition to its first issuance of 200,000 credits, the project is expected to produce an additional 20,000 credits per year until 2020 to yield a total of 400,000 credits.

California will allow its emitters to use up to 239 million offsets to meet carbon caps from 2012 through 2020, but the four project types currently approved by regulators would only satisfy only one-third of the offset quota.