VCM Report: Low price trade dominates voluntary carbon market as liquidity thins ahead of CCPs arrival
Over-the-counter trade seems to have slowed in the voluntary carbon market and retirement levels have fallen ahead of the much-anticipated announcement at the end of the month of the first methodologies that will qualify for the Core Carbon Principles (CCPs) stamp of high integrity.
Read MoreMethane emissions from fossil fuels keep rising, when they could quickly be stemmed -IEA
Global methane emissions reached a record high in 2023, when they need to fall by three-quarters within the decade in order to help limit the temperature rise to 1.5C, according to International Energy Agency (IEA) data published on Wednesday.
Read MoreUPDATE – Re-routing to avoid Red Sea threat could triple ETS emissions costs for EU-bound ships
Ongoing attacks by Houthi rebels on ships navigating the Red Sea have forced many Europe-bound vessels to divert their routes, which could as much as triple their emissions liabilities under the EU ETS, according to an ESG data provider.
Read MoreTurkiye overtakes Poland to become Europe’s second largest coal-fired power generator -analysts
Turkiye overtook Poland to become the second largest coal-fired power generator in Europe last year, due to its increasing reliance on fossil fuel imports and wavering wind capacity installation, according to an environmental think tank.
Read MoreVCM Report: KSET liquidation sparks sell off in voluntary carbon spots and futures
Standardised voluntary carbon spot contracts for old CORSIA and related futures tumbled this week from already low levels, in the wake of asset manager KraneShares announcing it will liquidate its KSET exchange-traded fund.
Read MoreGreen Climate Fund approves $500 mln for climate projects, discusses REDD+
The UN’s Green Climate Fund (GCF) has approved $489.8 million of funding across 11 climate projects in developing countries this week, which will total $1.26 billion with co-financing.
Read MoreExponential biochar carbon removal growth to split in two directions, report finds
Expectations of exponential growth in the biochar carbon removal market will split between a low-cost artisanal approach focusing on smallholder farmers in the Global South and high investment large industrial facilities in the Global North, finds a report.
Read MoreUAE-based carbon project developer Blue Carbon solicits applicants to support activity design, monitoring
Blue Carbon, a Dubai-based carbon project developer aiming to participate in Article 6 markets, has issued a request for proposals (RFP) to obtain support for design and monitoring across its portfolio.
Read MoreREQUEST FOR PROPOSALS: Carbon Project Development Services – Blue Carbon
Blue Carbon’s primary aim is to develop “Mitigation Outcomes” that are transferable as ITMOs through the mechanisms provided by Article 6 of the Paris Agreement. This includes both an Article 6.2 and 6.4 approach, as deemed appropriate. Having signed several exploratory MOUs and agreements with countries particularly across Africa, Blue Carbon is seeking PDD development services that will support project development.
Read MoreVCM Report: Voluntary carbon buyers sitting on sidelines despite high levels of credit retirements
Prices failed to budge, liquidity was thin last week, and there was a mix of opinion about the direction of the voluntary carbon market, with sources reporting a flood of new offers posted while others noted the cupboard was starting to run bare of good quality.
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