A carbon exchange that claims to be mopping up Clean Development Mechanism trade before the UN body closes, has slashed its fees, and announced it will be opening up for an fresh investment round.

After years with only one eligible supply source, credits approved for CORSIA use in its current phase have begun to steadily flow onto the market, reaching above 30 million earlier this year, but in light of an escalating war in the Middle East that has disrupted international air travel and jet fuel flows, as well as a lack of legislated penalties for non-compliance, some participants are now questioning whether the global aviation offsetting scheme has a growing demand problem.

Some 26 emissions unit programmes have applied for eligibility under ICAO's international aviation offsetting scheme CORSIA for the 2027-29 compliance period, as the body opens a new assessment cycle.

Singapore and Thailand on Tuesday launched a call for carbon credit project applications under their bilateral Article 6 implementation agreement, marking the operational phase of the deal.

The Union of Comoros has submitted its updated Nationally Determined Contribution (NDC) under the Paris Agreement, pledging to cut greenhouse gas emissions 57% by 2035 compared with business-as-usual (BAU), using international carbon market finance to help meet the goal.

A Singapore-based carbon markets expert who headed Asia sustainable finance at WWF will now work on the city-state’s Article 6 deals at The Nature Conservancy (TNC), she announced Tuesday.

Global muster  – Forty-five countries have already signed up to attend a conference in Santa Marta, Colombia in April to launch a coalition to transition away from fossil fuels, the Colombian government said in a press release on Monday. Building on calls at COP30 in Belem for a roadmap for the shift to cleaner fuels, the attendees for the Apr. 24-29 event represent around 20% of global fossil fuel production and nearly a third of consumption. Participants will include Australia, Brazil, Canada, Fiji, Germany, Jamaica, Papua New Guinea, Senegal, Tuvalu, the UK, and Vanuatu, among others. As well, the COP30 and COP31 presidencies will participate, as will the European Commission.