Sweden is scrutinising national commitments to the Paris Agreement as it parses out where to pursue bilateral carbon trading agreements under Article 6.2 – with an eye to avoiding both a lack of ambition, and over-ambition, according to a government official. 

An African and an Asian nation each anticipate key milestones by year-end regarding national carbon market regulations, ultimately supporting their on-ramp to participation under the Paris Agreement’s Article 6, country officials told Carbon Pulse on Monday.

Printing clean - The Carbon Trust and TransitionZero have announced a new partnership, Greenprint, which is designed to help governments in developing economies and emerging markets deliver secure, affordable, and fully decarbonised power systems by 2050. Greenprint has four stages: power sector systems and scenario development, economic modelling and insights, policy and regulatory assessments and recommendations, and capacity building and planning. This systems-led approach is designed to set out routes to clean energy that are technically sound, economically feasible and socially inclusive, supporting just transition principles and local job creation, the organisations said. In parallel to engaging with prospective pilot countries ready to address the challenges they face in transitioning to net zero, the Carbon Trust said it is also in discussion with potential financial and philanthropic organisations interested in funding the work.

The Science Based Targets initiative (SBTi) is encouraging businesses to take part in a pilot programme to trial the proposed draft revisions to its Corporate Net-Zero Standard, the standard setter announced Monday.

The Netherlands has expressed doubts about using international credits delivered under Article 6 of the Paris Agreement to meet the EU’s climate goals, saying the bloc’s upcoming 2040 target should be met domestically.

Bonn chance - The UN's dwindling budget, the global roadmap to $1.3 trillion per year of climate finance, the international work programme for mitigating climate, and the Global Goal on Adaptation are at the top of the agenda for climate negotiators meeting in Bonn over the next 10 days, UNFCCC Executive Secretary Simon Stiell said on Monday morning, opening the intersessional, SB 62. The UNFCCC has found "significant cost savings and efficiencies" in its budget to deliver on its growing mandates, but it's not a sustainable approach, Stiell said, urging countries to address them during the Bonn negotiations. The meeting should also deep-dive into the Baku to Belem Roadmap to $1.3 Trillion, making it a how-to-guide with clear next steps, he said.

Some 32 billion tonnes of CO2e would be kept in the ground if just four countries abandon their oil and gas expansion plans for the next decade, according to an analysis published Monday.

Switzerland and Norway are to formally sign a CO2 storage agreement early this week, as both countries seek to strengthen their positions as among the first-movers in scaling cross-border carbon finance deals.

A total of 63 oil and gas fields in development worldwide could emit over 2 million tonnes of methane annually from their production activities before 2030, resulting in a far greater impact than initially thought, new analysis shows.