Carbon markets face a critical choice over how aggressively to adopt digital monitoring, reporting, and verification (dMRV) and other advanced tools, as methodologies have evolved under Article 6 and the voluntary carbon market (VCM), said experts on a panel on Tuesday. 

The Article 6.4 Methodological Expert Panel (MEP) is expected in the first half of next year to respond to resubmitted versions of the first four bottom-up methodologies applying to the Paris Agreement Crediting Mechanism (PACM), according to a member of the UNFCCC Secretariat.

The EU’s incoming Carbon Border Adjustment Mechanism (CBAM) did not cause as much uproar at COP30 as in previous years, suggesting that opposition has peaked, EU Climate Commissioner Wopke Hoekstra said on Tuesday.

Togo carbon transaction facility – The Togo office of the Global Green Growth Institute (GGGI) has launched an 18-month “Carbon Transaction Facility Readiness and Implementation support” project to prepare the country for participation in Paris Agreement Article 6 carbon markets. Backed by a $487,000 investment, the initiative will build capacity and train government decision-makers on Article 6 concepts, strengthen national governance frameworks, and support their implementation. By 2027, the project aims to accelerate technology development and transfer, boost institutional capacity, and improve access to climate finance in Togo, GGGI Africa wrote on social media.

Net zero chemicals, by SBTi – The Science Based Targets initiative (SBTi) on Tuesday unveiled new decarbonisation pathways to steer the chemicals industry toward net zero emissions. The Chemical Sector Pathways and Implementation Criteria give manufacturers detailed guidance to set science-based targets across key emissions sources, including primary chemicals, nitrous oxide from nitric acid production, non-primary chemicals and fertiliser use-phase emissions. SBTi said the package, developed through extensive research, consultation and pilot testing, is aligned with its Corporate Net-Zero Standard and is designed to unlock innovation, efficiency and long-term value in a sector that is the world’s largest industrial energy consumer.

WEF on carbon removals – The World Economic Forum has urged a major overhaul of financial structures to scale carbon removal and help keep global temperature rise below 1.5C. In an article posted on Dec. 2, the WEF notes a vast funding “missing middle” with projects too mature for venture capital but too risky for lenders. To address this, it underscores the need for coordinated public and private investment, risk-aligned capital, and clear demand signals from corporate buyers and governments. Currently, only 0.1% of the CO2 removals needed by 2050 are being achieved, with further progress hinging on a financial architecture that makes projects bankable, the WEF said.

The combination of a weak picture for European industry, a glut of gas, and questions around the supply of allowances post-2030 is keeping European carbon prices in check, despite expected supply tightness over the next two years, analysts told the S&P Global Carbon conference in Barcelona on Tuesday. 

Two major calls for stakeholder input have been launched by the Supervisory Body for the Paris Agreement’s Article 6.4 crediting mechanism, concerning corresponding adjustments and proposed new crediting approaches, as experts ramp up technical work in a methodology meeting running this week.

A global logistics company is generating carbon insets from using low-emission fuel in container vessels calling at its UK ports and plans to expand the initiative to other regions amid growing corporate demand, a senior company executive said in Barcelona on Tuesday.

Bilateral cooperation through Article 6.2 could lead to a more efficient deployment of global carbon removal technologies, according to a World Bank-backed study published this week.

Thailand’s Cabinet on Tuesday approved the Climate Change Bill that will introduce carbon taxes, establish a carbon credit trading regime, and create a national body to steer greenhouse gas policy.

Article 6 may now be the only way of truly connecting international carbon markets, according to a veteran analyst, with the EU credit demand signal a make-or-break moment for scaling Paris-era trading.

One of Japan's largest securities groups has teamed up with an international NGO to explore carbon credit projects under the bilateral Joint Crediting Mechanism (JCM).

Nepal’s cabinet on Monday approved a Carbon Trading Regulation under the country’s Environmental Protection Act, paving the way for participation in international carbon markets.

New Zealand’s finance minister Nicola Willis on Tuesday defended the government’s decision not to budget for offshore mitigation to meet its Paris Agreement targets, saying that there is no legal obligation to meet it. 

Take-off spot – Climate Impact X has launched its first standardised spot contract for Phase 1 (2024-26) of the aviation sector’s CORSIA programme, the Singapore-based exchange announced on Tuesday. The CIX CORSIA Phase 1 X – Global Market (CIX CP1X-GM) contract consolidates all approved registries for the period, to enable efficient delivery of credits. Announced last week, the contract began trading on Monday, with the bid-offer spread narrowing to 10 cents over the day, the exchange said. To date, around 17.3 mln CORSIA-eligible units have been issued, however demand is likely to be in the range of 180-236 mln units for Phase 1.