Corporate sustainability initiative, UK bank launch NbS accelerator for Middle East, SE Asia
A multi-company partnership for sustainability and a London-based bank have jointly launched a programme to coach high-potential initiatives in the nature-based solutions (NbS) space across the Middle East, North Africa, and Turkiye (MENAT), and Southeast Asia.
Read MoreMauritania to set up national carbon registry, framework -media
Mauritania’s environment minister this week presented a strategic framework to facilitate access to international carbon finance and support mitigation activities, local media has reported.
Read MoreBRIEFING: National CO2 taxes could offer new lease of life for phased-out CDM credits
Countries that allow carbon-taxed entities to offset their liabilities with UN Clean Development Mechanism (CDM) credits could absorb some of these phased-out units, even repurposing them to address Paris climate targets or for use against the EU’s Carbon Border Adjustment Mechanism (CBAM).
Read MoreANALYSIS: CDM projects face uncertain future after transition failure, seek new homes
Hundreds of carbon projects left outside the Paris Agreement’s new crediting mechanism face an uncertain future, with developers weighing a patchwork of options ranging from voluntary markets and domestic compliance schemes to simply shutting down ageing programmes.
Read MoreBRIEFING: Chile’s low CO2 tax rate excluding REDD+ credits, unlikely to rise
Chile’s Ministry of Environment (MMA) is actively courting REDD+ projects to diversify the portfolio of carbon credits used to offset its CO2 tax – but the low $5 per tonne tax rate can make it economically inviable to integrate them.
Read MoreLATAM Roundup: CDM to PACM project approval deadline passes, Latin America in the lead
The deadline has passed for countries hosting Kyoto-era Clean Development Mechanism (CDM) projects to approve transition to the Paris Agreement Crediting Mechanism (PACM), with just one-quarter of eligible activities making the cut – and Latin America leading the charge.
Read MoreWorld Bank approves $265 mln for hydro project in Morocco, amid retreat from climate targets
The World Bank has announced a $265-million financing package to support a major hydropower infrastructure project in Morocco, just days after retiring its climate finance targets amid US pressure.
Read MorePartial ecosystem collapse could increase sovereign debt payments by $162 bln/year -study
Under a partial ecosystem collapse scenario, biodiversity loss and deforestation decrease GDP and sovereign credit ratings across 23 countries, resulting in at least $162 billion per year in excess sovereign debt payments by 2030, according to a peer-reviewed study.
Read MoreMENA Roundup: Gulf countries build up voluntary carbon markets at home
Middle Eastern and North African (MENA) countries last month offered carrots, sticks, and capacity support to accelerate domestic and regional carbon market development.
Read MoreReal CORSIA demand could be 38% lower than theoretical obligation, analysts say
The demand for Eligible Emissions Units (EEUs) under the UN’s CORSIA aviation offsetting scheme could be far below the 198 mln EEUs due to be retired by Jan. 2028, largely because of limited enforcement – while uncertain supply thins liquidity in the market, according to an analysis published Thursday.
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