Rolling out the agreement - The first Joint Committee on Climate Change Cooperation held last week between officials from the governments of South Korea and Peru marks the long-awaited kick-off of an agreement signed in 2024, which entails an institutional framework for Article 6 collaboration, wrote in a social media post Rogelio Campos, technical specialist at the Ministry of Environment (MINAM). The meeting was first announced by MINAM's Director of Climate Change and Desertification, Jessica Moscoso, during the Peru Carbon Forum last month. The Vice Minister of Strategic Development of Natural Resources at the time told Carbon Pulse last year that MINAM is in conversations with the Korean government to sign an Article 6.2 bilateral agreement, where procedures for project development and authorisation of international transfers are under evaluation. The official expected to sign an agreement in the first half of 2026.

Political tensions around the issue of climate finance are seeping into and tainting progress in negotiations across other topics at annual mid-year UN climate talks in Bonn this week.

The status quo will be insufficient to reach a Belem pledge to quadruple the use of sustainable fuels by 2035, but the right policy signals and can help drive growth in the emerging sector, experts said during mid-year UN climate talks.

India and Japan have adopted the operational rules for their bilateral Joint Crediting Mechanism (JCM), making it India's first live framework for trading carbon credits under Article 6.2 of the Paris Agreement.

"At least” 14 additional projects, but hopefully more, will receive host party approval (HPA) to transition to Paris Agreement Crediting Mechanism (PACM) from the Clean Development Mechanism (CDM) by the deadline at the end of this month, a UN official said on Tuesday.

New aviation fund - The UK government has announced a £219 mln Low Carbon Fuels Fund to accelerate the production of sustainable aviation fuel (SAF), a cleaner alternative to conventional jet fuel. The initiative includes £93 mln available over the next two years for UK companies developing low-carbon fuel projects, prioritising those closest to commercial production. The fund aims to strengthen the UK’s position as a global hub for low-carbon fuels, potentially supporting 15,000 jobs and contributing £5 bln to the economy by 2050. Alongside the funding, the government launched a review of the SAF Mandate, which requires increasing proportions of sustainable fuel in UK aviation, while maintaining its long-term decarbonisation targets.

Verra published its first framework to quantify emissions reductions in marine transport Tuesday in an effort to support alternative low-carbon fuels in shipping.

Kenya's recent announcement that it will limit Article 6 transfers to 10 million Internationally Transferred Mitigation Outcomes (ITMOs) between 2026 and 2030 surprised many market participants, particularly given the scale of the country's existing carbon project pipeline, and may signal a fundamental shift for project developers relying on voluntary prices currently languishing in single-digit figures.

Italy is eyeing carbon market investments in Tanzania through Article 6.2 of the Paris Agreement, following a meeting between the two governments in Bonn, according to local media.

A voluntary carbon standard, a research non-profit, and an emirate in the UAE have signed a Memorandum of Understanding (MoU) to foster carbon market engagement, including on the Paris Agreement’s Article 6, among other sustainable development objectives.

Momentum behind the implementation of Article 6 of the Paris Agreement continues to build, according to the latest implementation status update from a partnership tracking the progress of UN carbon markets, with five new bilateral trade agreements inked in the past month.

Up to 60 European ports could be suitable for processing CO2 emissions for offshore storage by 2050, a new report has found, which examines how non-pipeline transport will play a key role in Europe's CO2 transport chain.

The developer of the first project to earn carbon credits under the UN's Paris Agreement Crediting Mechanism (PACM) defended a controversial Myanmar cookstove programme, while acknowledging that conflict and security concerns in the Southeast Asian country forced independent auditors to rely on remote verification.

The cooling sector has great potential to generate Paris Agreement carbon credits – especially in the Middle East, North Africa, and Turkiye (MENAT) – but projects must respect the boundaries set by other treaties, said the co-author of a recent report.

A project developer lobby group has thrown its weight behind a new stakeholder initiative that aims to boost the number of credits available for CORSIA to around 250 million by the spring of 2027.

Small islands and least developed countries accused some parties of attempting to weaken the role of science and sideline the 1.5C goal, warning that progress towards key climate finance commitments was faltering ahead of COP31 in Turkiye. 

At least four countries using the Paris Agreement’s Article 6 carbon markets mechanisms risk undermining, rather than strengthening, global climate action, according to an analysis published on Tuesday.

The EU could use performance-based reward funds for developing and emerging economies to cover the international component of its 2040 climate target at a cost of around €5 billion in 2040, according to a new policy paper.