- Tue 17:38The European Union must tread carefully on international carbon credits for its upcoming 2040 climate target plan, with experts warning about the "Pandora's box" of offset mechanisms and their environmental integrity.
- Tue 17:16Thinking ahead - Boosting funding for climate adaptation and resilience is one of the smartest development investments available today, according to a new study by the World Resources Institute (WRI). Every $1 invested in adaptation and resilience generates more than $10 in benefits over 10 years, found the study that analysed 320 adaptation and resilience investments across 12 countries totaling $133 bln. Some sectors such as health and disaster risk management record even greater returns due to the high benefits of protecting lives from climate-related impacts like heats stress and safeguarding infrastructure.
- Tue 16:47Large carbon removal (CDR) transactions are being made behind the scenes despite a more challenging narrative around corporate climate action, but capital must continue to flow into the sector to avoid a supply-side collapse over the next few years, an industry conference heard Tuesday.
- Tue 14:22The first credits from an activity transitioning to the Paris Agreement Crediting Mechanism (PACM) are expected to be issued towards the end of this year, a UNFCCC official said Tuesday.
- Tue 11:28Mounting costs, technical challenges, and growing scrutiny are fuelling doubts over whether direct air capture (DAC) can deliver on its carbon removal promise, raising concerns that policymakers may be placing too much faith in a technology still in its infancy.
- Tue 08:58Tax your fuel - The World Bank has recommended introduction of a carbon tax in Azerbaijan as a first step in the nation’s carbon pricing strategy, Azernews reported. According to Yasemin Orucu, head of the World Bank’s office in Azerbaijan, introduction of a carbon tax on the carbon content of fuel types would be a good starting point for the country to adopt carbon pricing tools. A tax should be applied at the point where fuel enters the economy – either when it is imported or produced domestically, she said. As well, the tax could cover around 60% of the country’s total carbon emissions in its initial phase. In the later stages, Azerbaijan could expand the scope of a tax and transition to an ETS, she added.
- Tue 08:23The Indian government is planning to update its shipping rules in order to align with the International Maritime Organisation’s (IMO) zero emissions regulations in an effort to decarbonise the industry, according to local media reports.
- Tue 08:07An international body should manage efforts to advance carbon removal development and deployment under the Global Stocktake (GST), researchers in a new paper said, lamenting the current lack of coordinated action.
- Tue 07:49Following its latest meeting, the Article 6.4 Methodological Expert Panel (MEP) has begun more intense work on how crediting carbon removals will be carried out under the new UN mechanism.
- Tue 07:39Benin is in talks with a number of countries about bilateral Article 6 deals, following its first with Norway last year, as the West African country seeks to lure in carbon market developers and drive economic growth, a government official told Carbon Pulse.
- Tue 07:33Potential cooperation - Officials from South Korea and Tajikistan last week exchanged views on how to advance the two countries' cooperation on climate change, according to a government release. Chung Keeyong, ambassador and deputy minister for climate change at South Korea's foreign affairs ministry, on Saturday met with Tajik Deputy Foreign Minister Homiddin Sharifzoda to discuss topics about climate change and carbon market mechanisms based on Article 6 of the Paris Agreement. The two sides agreed to explore "mutually beneficial projects" through the Global Green Growth Institute (GGGI), the statement said.
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