COP27: Parties remain at loggerheads on UN carbon market rules, opening 2023 up for Article 6 fireworks
Country negotiators striving to find consensus on key documents relating to carbon markets under Article 6 of the Paris Agreement are divided by the near-final texts as the end of COP27 approaches, multiple sources said, with moves to postpone work until 2023 looking increasingly likely.
Read MoreCOP27: Roundup for Day 12 – Nov. 18
It’s Friday – the final day (?) – of week two at COP27 in Sharm el-Sheikh, and Carbon Pulse rounds up some of today’s developments and announcements from the summit. Timestamps in local time (EEST, GMT+2).
Read MoreCOP27: PNG envoy says deal with UAE firm likely to be quashed, joins fresh push on REDD’s role in Article 6
Papua New Guinea’s climate envoy has said the recent announcement by the country’s sports minister entrusting the country’s carbon market regulations to a Dubai-based company is not binding and will likely be quashed by the government, as the nation and its allies lobby for their pre-2021 REDD+ credits to be allowed to count towards Paris goals on the final scheduled day at COP27.
Read MoreCOP27: Roundup for Day 11 – Nov. 17
It’s Thursday – Solutions Day – of week two at COP27 in Sharm el-Sheikh, and Carbon Pulse rounds up today’s other news and announcements from the summit. Timestamps in local time (EEST, GMT+2).
Read MoreCOP27: Australia climate minister meets China’s counterpart, voices support for EU’s loss and damage fund
Australia’s energy minister has met with China’s climate envoy on the sidelines of negotiations at COP27, agreeing to cooperate on climate issues, as he used a plenary session to support the EU’s establishment of a loss and damage fund.
Read MoreCOP27: EU proposes fossil fuel-funded UN climate loss and damage facility, with shipping and aviation contributing
The EU shifted against a longstanding deadlock at UN climate talks on Thursday by proposing to establish a loss and damage fund for the most vulnerable countries, using money that could be raised partly by a levy on aviation, shipping, or fossil fuels.
Read MoreCOP27: East African nations learn valuable lessons on Article 6 removals from VCM -report
A group of seven East African nations are successfully using Clean Development Mechanism (CDM) activities to generate climate finance, however the sheer scale of new finance required raises questions on how to expand and transition to Article 6, according to a report launched at the COP27 conference on Thursday.
Read MoreCOP27: Pledge to slash global methane emissions tallies 150 countries without China
The count of countries committing to global action to address methane emissions has risen to 150, according to an event at COP27 on Thursday, an increase of 50 nations over the initial signatories made during last year’s UN climate talks, but yet to include some large emitters such as China.
Read MoreCOP27: Southeast Asian nature-based carbon removal venture to kick off in the Philippines
A new nature-based carbon removal initiative for Asia was launched at COP27 on Thursday, starting with an initial $15 million investment in the Philippines that will restore 33,000 hectares of land and capture more than 4 mln tonnes of CO2.
Read MoreCOP27: Nations launch alliance for countries committed to develop engineered removal projects
Several nations on Thursday launched an alliance of countries developing carbon dioxide removal (CDR) projects, with participating countries committing to building a 1,000+ tonne a year CDR project by 2025 and vowing to collaborate to share the resulting knowledge and data to help scale the technology.
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