Carbon cooperation – The UN Development Programme (UNDP), Korea Environment Corporation, and Korea Research Institute on Climate Change held a workshop from May 12-13 in Ulaanbaatar to discuss carbon market cooperation between Mongolia and South Korea, bringing together more than 100 government, private sector, financial, and international participants. The event focused on carbon market mechanisms, GHG inventory management, monitoring, reporting, and verification (MRV) frameworks, carbon credit authorisation, governance, policy considerations, institutional readiness, and case studies in Mongolia’s national context. Mongolia’s environment minister T. Sandag-Ochir said international dialogue, including with South Korea, was important as the country considers market-based approaches to support its climate goals, while the UNDP said the workshop was part of wider efforts to improve Mongolia’s readiness to engage in international climate and carbon market discussions.

No more methane – Barbados climate envoy Elizabeth Thompson has called for legally-binding mechanisms to accelerate methane cuts, saying voluntary pledges have not delivered enough action. Speaking on Friday at a parliamentary seminar in Nairobi, Thompson said Barbados PM Mia Mottley and the 68-member Climate Vulnerable Forum are exploring a mandatory financing framework to reduce and ultimately eliminate methane emissions, particularly from the fossil fuel sector, while also discussing finance mechanisms to support implementation and compliance. Meanwhile, Kenya Senate Speaker Amason Kingi urged African parliaments to support investments in improved livestock feeds, breeding systems, waste management technologies, and biogas solutions, as the seminar aimed to strengthen legislative oversight and help lawmakers enact methane policies, shape climate budgets, and support implementation of the Global Methane Pledge. (Capital News)

Much UNIDO about nothing - The Institute for Global Environmental Strategies (IGES) and the United Nations Industrial Development Organization (UNIDO) signed a joint declaration Friday to advance high-integrity carbon markets under Article 6 of the Paris Agreement. IGES is the secretariat of the Paris Agreement Article 6 Implementation Partnership (A6IP), and aims to work with UNIDO to develop technical assistance projects, knowledge products, share information, and promote multi-stakeholder engagement.

A proposal to make it harder to sue companies over some “carbon neutral” claims based on voluntary carbon credits was effectively blocked in the California Assembly on Thursday.

A Canada-based carbon project financier reported a Q1 net loss on Friday that was lower from the previous three-month period while also disclosing first-quarter sales of CORSIA-eligible cookstove credits.

The UK has reportedly slashed its contribution to the UN’s flagship climate finance vehicle by more than £800 million, in a move likely to deepen concerns among developing nations that wealthy countries are retreating from commitments to support the global energy transition and climate adaptation efforts.