Several countries to use international carbon markets to achieve Paris goals, while others keep options open
A handful of mostly developing countries said they intend to use the Article 6 carbon markets to help finance their Paris Agreement climate plans by 2030 — or are keeping open the option to do so, according to the first round of transparency reports to be submitted to the UN every two years.
Read MoreDeveloper launches appeal after judge rules in favour of Indigenous people in case over large Peruvian REDD project
A Peruvian offset developer on Friday appealed a case involving one the world’s biggest historical issuers of REDD-based carbon credits, after a judge ruled against the project’s backers, including several government agencies, and ordered the nullification of some forest concessions.
Read MoreLATAM Year in Review: Carbon markets spring forward as major economies advance pricing schemes
Carbon Pulse rounds up the most significant carbon pricing trends and developments in the Latin America and Caribbean (LATAM) region for 2024, highlighting a diversifying and increasingly international markets landscape, as major regional powers, notably Brazil, took a big step forward in advancing mechanisms.
Read MoreBrazil Securities and Exchange Commission approves accounting guidelines for carbon units
Brazil’s Securities and Exchange Commission (CVM) on Monday approved new technical guidelines for valuing three kinds of domestic carbon units on balance sheets, setting the stage for a new era in accounting.
Read MoreChile adds two new standards to roster of offsets admissible under CO2 tax
Chile’s CO2 tax, which accepts select carbon units in lieu of payment on a tonne-for-tonne basis, has added two new standards and all their methodologies to its eligibility pool, potentially bringing in millions of tax-eligible credits to a supply-constrained market.
Read MorePeru court demands land titling, nullified concessions in one of most-credited REDD carbon projects
A judge in the San Martin region of Peru has ruled against several government agencies and an NGO developer that manages one of the world’s biggest historical issuers of REDD credits, in favour of Indigenous peoples, ordering the state to apply land titles to ancestral lands, nullify some forest concessions, and conduct community consultations with benefit-sharing.
Read MoreBrazil sets 2034 GHG reduction, waste oil targets centred on biofuels -media
Brazil’s National Council for Energy Policy (CNPE), an advisory body to the president, this week approved resolutions in support of targets for biofuels-based greenhouse gas (GHG) mitigation and to encourage the use of residual oils and fats in biofuels, according to local media reports.
Read MoreMexican state to debut REDD+ strategy, publishes ART TREES concept note
The state of Yucatan in Mexico will soon decree a jurisdictional REDD+ (J-REDD) strategy and has published a concept note on the ART TREES registry for J-REDD projects, anticipating 2.4 million credits over a five-year crediting period.
Read MoreBrazil’s BNDES, Conservation International issue $3.8 mln call for forest restoration
Brazil’s National Bank for Economic and Social Development (BNDES) and the NGO Conservation International Brazil have launched the Forest for Well-Being call for proposals, featuring funding of up to R$23 million ($3.8 mln).
Read MoreUPDATE – Brazil ETS gets final presidential approval
Brazil’s long-awaited emissions trading system (SBCE) legislation has been sanctioned by President Luiz Inacio Lula da Silva, appearing in the Official Gazette of the Union (DOU) on Thursday.
Read More