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Verra cancels 5 mln over-issued credits from CQC projects following investigation

Published 15:22 on October 17, 2024  /  Last updated at 00:53 on October 18, 2024   / and /  Africa, Americas, Asia Pacific, EMEA, Other APAC, Voluntary

Verra has cancelled over 5 million voluntary carbon credits issued to C-Quest Capital (CQC) projects following an investigation launched back in June, also in the wake of charges of fraud by US authorities on former executives at the company. Read More
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Russia to put forward plans for int'l carbon market at COP29 -media

Published 18:41 on October 17, 2024  /  Last updated at 18:41 on October 17, 2024   / /  EMEA, International, Paris Article 6, Voluntary

Russia will present ideas for creating an international carbon market at the UN climate summit COP29 in Baku next month, local news outlets have reported. Read More
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ANALYSIS: UN Article 6 body underscores 'bottom-up' approach in core standards, key carbon removal elements still need clarity

Published 12:08 on October 17, 2024  /  Last updated at 12:08 on October 17, 2024   / and /  Americas, Asia Pacific, Climate Talks, EMEA, International, Paris Article 6

Flexible, non-prescriptive approaches are staple features of the carbon crediting methodologies and removals standards, adopted by a UN body last Thursday, in a bold move that experts see as a major step forward towards carbon crediting under the Paris Agreement’s Sustainable Development Mechanism (SDM). Read More
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DATA DIVE: More and more airlines appear to be retiring carbon credits

Published 11:20 on October 17, 2024  /  Last updated at 11:20 on October 17, 2024   / /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Voluntary

An increasing number of the world’s largest airlines are retiring voluntary carbon credits, according to data from the Verra, Gold Standard, ACR, and Climate Action Reserve (CAR) registries. Read More
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Carbon project financier launches legal action against Indonesia REDD developers over alleged contract breach

Published 17:04 on October 17, 2024  /  Last updated at 17:27 on October 17, 2024   /  Americas, Asia Pacific, Canada, Nature-based, Other APAC, Voluntary

A carbon project financier has launched arbitration proceedings and a court action in Canada against the developers of a large Indonesian REDD project. Read More
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EU launches €15-mln call for carbon capture technology proposals

Published 22:24 on October 17, 2024  /  Last updated at 22:24 on October 17, 2024   /  EMEA, EU ETS, Nature-based, Voluntary

The European Commission on Thursday announced a €15-million funding opportunity aimed at advancing technologies in direct air carbon capture and storage (DACCS) and bioenergy carbon capture and storage (BECCS). Read More
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US sporting goods company seeks to offset shipping emissions, restore Oregon forests

Published 23:10 on October 17, 2024  /  Last updated at 23:10 on October 17, 2024   / /  Americas, Nature-based, US, Voluntary

A major athletics brand seeks to offset the emissions generated by shipment from its online purchases in the US through forestry-based carbon credits, targeting nearly 27,600 acres of forestland in Oregon. Read More
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US DOE commits nearly $3 bln in conditional loans to expand SAF production

Published 23:35 on October 17, 2024  /  Last updated at 23:35 on October 17, 2024   / /  Americas, Aviation/CORSIA, RINs & LCFS, US

The US Department of Energy (DOE) announced conditional loans totalling nearly $3 billion to two biofuel producers with the goal of expanding sustainable aviation fuel (SAF) and renewable diesel (RD) output. Read More
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WCI Markets: CCA prices cool off post ARB notice spike, WCAs quiet ahead of repeal vote

Published 01:49 on October 18, 2024  /  Last updated at 01:49 on October 18, 2024   / and /  Americas, Canada, US

California Carbon Allowance (CCA) futures prices tailed off Thursday as initial market excitement over ARB's regulatory notice published earlier in the week eased, while the Washington Carbon Allowances (WCA) activity remained muted despite some positive polling for the programme ahead of November's repeal vote. Read More
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California refinery to close next year, citing 'market dynamics'

Published 20:47 on October 17, 2024  /  Last updated at 20:47 on October 17, 2024   / /  Americas, RINs & LCFS, US

An oil refinery in the Los Angeles area is set to shutter in Q4 2025, less than a week after California's legislature approved controversial fuel supply minimums for in-state refiners, according to a company announcement on Wednesday. Read More
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China increases CO2 allocation levels in final ETS allocation plan for 2023-24

Published 13:58 on October 17, 2024  /  Last updated at 14:25 on October 17, 2024   / /  Asia Pacific, China

China’s environment ministry has released the final carbon allowance allocation plan for the years 2023 and 2024, marginally easing the settings for coal-fired power plants compared to the previous draft as some 68 million additional CO2 permits are now set to be handed out in each of the two years. Read More
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Cote d’Ivoire forms office to expedite carbon market regulations

Published 13:57 on October 17, 2024  /  Last updated at 13:57 on October 17, 2024   / /  Africa, EMEA, Nature-based, Voluntary

The government of Cote d’Ivoire has formed a specialised office to accelerate the development of country’s carbon market regulations and bring investments for project development in the country, it has announced. Read More
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Carbon removal platform opens first reforestation protocol for public consultation

Published 17:00 on October 17, 2024  /  Last updated at 13:46 on October 17, 2024   / /  EMEA, International, Nature-based, Voluntary

A technology-focused carbon removal programme has for the first time launched a public consultation on a reforestation protocol, the company announced on Thursday. Read More
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Rating agencies could help to scale Article 6 market, says expert

Published 14:48 on October 17, 2024  /  Last updated at 14:48 on October 17, 2024   / /  Americas, Asia Pacific, EMEA, International, Paris Article 6, Voluntary

Rating agencies should expand into assessing letters of authorisation for Article 6-aligned projects, a carbon market veteran said on Thursday. Read More
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Achieving Paris goals feasible, can be compatible with economic growth -report

Published 12:00 on October 17, 2024  /  Last updated at 13:30 on October 17, 2024   / /  Americas, Asia Pacific, EMEA, International, Nature-based, Paris Article 6, Voluntary

Achieving the targets of the Paris Agreement is feasible and can be done in a way that is consistent with economic growth and improves the overall quality of life, a report released Thursday has found. Read More