Liberia steps up plans to sell forestry credits under Paris Agreement
The densely forested west African country of Liberia is looking to harvest Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6.2 of the Paris Agreement after signing a letter of engagement with the Coalition of Rainforest Nations (CfRN), it was announced Wednesday.
Read MoreINTERVIEW: UN-approved REDD carbon credits available for sale as ITMOs by June, says CfRN
The first UNFCCC-approved sovereign credits from REDD forestry protection, that can be used towards climate targets, will appear for sale in the middle of the year, and prices will likely be fixed annually in an OPEC-like cartel to counter market volatility, Kevin Conrad, the chief executive of the Coalition of Rainforest Nations (CfRN), told Carbon Pulse this week.
Read MoreCarbon standard bursts onto the REDD+ market with bumper issuance
A carbon standard has had a busy festive season with significant issuances from REDD+ projects in the last week, amounting to about 15% of its total credit issuance so far.
Read MoreANALYSIS: Observers sceptical on readiness of Article 6 REDD+ buyers as nations prepare ground
Experts on the UNFCCC process have expressed scepticism that buyers are immediately lining up to buy Article 6-ready REDD+ results, which are expected to be offered to the market in the near future by at least three rainforest nations, though they suggested that there may significant future demand for such jurisdictional units if their use is fully established for transfer under the Paris Agreement.
Read MoreINTERVIEW: Honduras wants $25/t for soon-to-be issued Article 6 forestry credits
Honduras will target international sales of Article 6-compliant REDD+ credits, due to be issued next year, at a price of at least $25/tonne, the country’s environment minister confirmed to Carbon Pulse on Thursday, and is already in discussion with buyers to complete transactions in 2025.
Read MoreThree rainforest nations poised to offer tens of millions of sovereign carbon credits under Article 6
Three more forest-rich countries are set to imminently offer up tens of millions of sovereign REDD+ units under Article 6 of the Paris Agreement, with Suriname, the first to already have had such issuances verified, expecting to complete sales of its carbon credits to buyers in the coming months at a targeted price of at least $30/tonne.
Read MoreVCM Report: V2018 and V2019 REDD credit prices slide lower
The middle of the REDD avoided deforestation curve, such as credits issued in 2018 and 2019, fell last week although there seemed little movement in older or fresher vintages in the sector.
Read MoreSuriname to offer first sovereign forestry credits for sale under Paris’ Article 6
The first REDD sovereign credits available for international trade under the Article 6 mechanism of the Paris Agreement are to be offered by Suriname, a precedent that is expected to be widely followed by other rainforest nations around the world.
Read MoreUN completes technical check on REDD emissions data for vast areas in two nations
The UN has completed technical checks on the emissions reductions calculations of two major tropical forest nations, raising the prospect that the countries will attempt to monetise the results despite the vintage periods occurring before a 2021 cut-off for inclusion under fiercely debated Paris Agreement provisions.
Read More
