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- Papua New Guinea has been progressing its Article 6 implementation agreement with Singapore, as it aims to slowly “road test” its newly established carbon markets to ensure they provide value to landholders.
- Two blueprints vying to unite Southeast Asian countries under a common carbon market framework on Thursday pitched near-identical endgames while insisting their approach is most ideal to turn nature and tech projects in the region into bankable, high-integrity carbon credits.
- Parties are not expected to reopen adopted texts governing the Paris Agreement Crediting Mechanism (PACM), despite strong interventions in talks earlier this week at COP30 made by countries raising concerns with a permanence standard affecting new Article 6 carbon projects.
- Thu 22:42Turkiye's Carbon Border Adjustment Mechanism (CBAM) will go ahead, but not before 2029, the CEO of the country's energy exchange said on Thursday.
- Thu 22:04The Brazilian-led tropical forest fund has been clouded by uncertainty at COP30, despite receiving over $5 billion in pledges upon its launch ahead of the annual UN climate summit, with hopes now pinned on Germany, China, and multilateral development banks (MDBs) to keep the flagship initiative moving forward.
- Thu 21:53South Korea is accelerating work to build what it describes as a high-integrity global voluntary carbon market (GVCM) aligned with the Paris Agreement Crediting Mechanism (PACM), with plans to establish a credit issuance body next year.
- Thu 21:43The African Development Bank is looking for a government or organisation to host an initiative designed to entice polluters to buy certifications for the benefits generated from climate adaptation projects – outside of carbon markets.
- Thu 20:51Regulation ramifications – A working paper by IETA and consulting firm EOS published this week found requiring potential future sales of ITMOs by Brazil come only achievement of NDC targets would mean that national carbon markets would be curtailed in their economic, social, and environmental potential. Instead, the study found that revenues obtained from the cooperative implementation of NDCs, if reinvested in greater climate ambition, could more than double emissions reductions in the country. Feedback was requested on the working paper, which authors said would be refined.
- Thu 20:25Iraq on Thursday submitted its third Nationally Determined Contribution (NDC) to the Paris Agreement, establishing clear and specific goals for engaging Article 6.2 and the Paris Agreement Crediting Mechanism (PACM).
- Thu 19:39Brazil is in "advanced talks" with Switzerland and Singapore for Memorandums of Understanding (MoUs) for cooperation under Article 6.2 of the Paris Agreement and could announce agreements during COP30, government sources told Carbon Pulse.
- Thu 18:05Analysts project the EU ETS cap to range between 201-407 Mt in 2040, corresponding to an 80-90% reduction in GHG emissions from traded sectors compared to 2005 levels, in a new report.
- Thu 17:33Less than two months from the deadline to approve transitions from the Clean Development Mechanism (CDM) to Article 6 of the Paris Agreement, only 7% of projects and programmes have received approval, the UNEP Copenhagen Climate Centre wrote in its monthly update.
- Thu 16:48Carbon pricing data from 79 countries, covering 82% of global GHG output, shows increasingly diverse and flexible market signals, tracked through effective carbon rates (ECRs), with adoption spreading across new jurisdictions and sectors, a report released on Thursday has found.
- Thu 16:45An oil major is investing in a cookstove project in Rwanda that is expected to avoid 2.5 million tonnes of CO2 over the next decade, and will pursue Article 6.2 authorization under the Paris Agreement.
- Thu 15:49Indonesia and Norway on Thursday signed a “mutual expression of intent” that paves the way for Norway to buy carbon credits from Indonesia’s grid-connected renewable energy projects under Article 6.2 of the Paris Agreement.
- Thu 15:10ICAO has approved six of Isometric's methodologies for engineered removals under the UN's CORSIA aviation offsetting system, backing a wider suite of CCS, direct air capture (DAC), and biochar methodologies.
- Thu 14:35Australian environmental, Indigenous, and investor groups, as well as unions, are calling for an end to the stalemate around the bid to host next year's COP31, urging parties to ensure next year’s talks are held in Asia Pacific.
- Thu 14:00Cote d’Ivoire has signed a purchase agreement worth $23 million with a US non-profit to commercialise verified jurisdictional REDD+ emission reductions and removals issued under the World Bank’s Forest Carbon Partnership Facility (FCPF).
- Thu 12:57The Council of the European Union on Thursday approved the start of negotiations with the United Kingdom on a landmark agreement to link their emissions trading systems (ETS).
- Thu 11:14The European Parliament on Thursday voted in favour of plans to cut net greenhouse gas emissions 90% below 1990 levels by 2040, clearing the way for talks with EU member states to finalise a deal before the end of the year.
- Thu 10:38A US-based philanthropy has announced $5.4 million for strengthening the resilience of food systems by funding farmers producing food for school meals, focused initially on Brazilian initiatives.
- Day 4 at COP30 in Belem. A brief presidency update, calmer rain and cooler protests, and a flurry of (more) announcements from Brazil kept the week ticking along on Wednesday. Closed-door talks continue on Thursday on climate finance, trade concerns, and other contentious matter, as delegates will now have to wait until Saturday for a formal update on the state of negotiations.
- Thu 07:14Australia’s Liberal opposition party has decided to ditch its net zero target by 2050, ending the bipartisan consensus on climate change with the current government led by Labor Prime Minister Anthony Albanese.
- Thu 01:35A proposed mechanism to coordinate and support the global just transition has proven to be a flashpoint at COP30, with the G77+China facing off against developed countries including the UK over it.
- Thu 00:25Digging in – Turkiye’s President Recep Tayyip Erdoğan has written to Australian Prime Minister Anthony Albanese to reaffirm the country’s desire to host next year’s COP31, the PM told the ABC on Thursday. The letter was received in the past 24 hours, he added. Albanese has been in contact with Pacific leaders about the development, he said. This comes after representatives from the Pacific Islands have offered to help negotiate an agreement and end the stalemate over next year’s hosting duties.
- Thu 00:01Global CO2 emissions from fossil fuels are projected to rise by 1.1% in 2025, reaching a record 38.1 billion tonnes, according to a report published Thursday, despite recent UN predictions that the world is about to peak its GHGs.
- Thu 00:01Global ambition to limit warming below 1.5C has barely shifted, despite a new round of 2035 Nationally Determined Contributions (NDCs), with projections remaining roughly unchanged at 2.6C of warming by end of the century, according to a new report launched at COP30.
