COP29: Ecuadorian civil society cleaves on carbon markets after presidential veto
One month after Ecuadorian President Daniel Noboa vetoed a bill that would have legalised carbon markets in the country for good, industry and activists are divided, while an energy crisis continues to divert officials’ attention.
Read MoreCOP29: Correspondingly adjusted carbon credits trading at $7-22, says market analytics firm
Article 6.2 or CORSIA-eligible carbon credits are currently trading in the $7-22 range, with prices expected to peak in 2027 and stabilise by 2030, according to a market specialist speaking to Carbon Pulse on the sidelines of COP29.
Read MoreCOP29: Zambia’s carbon markets bill explicit on fees, vague on integrity
A Zambian climate bill up for public consultation this month, publicised on Monday, lists several layers of government approval and fees for carbon trading but does not elaborate on its high-level principles for environmental integrity.
Read MoreCOP29: INTERVIEW – Uganda backs Article 6 where voluntary market, foreign contributions fall short
Uganda is looking to Article 6 projects to help finance sustainable development, particularly given the limitations of the voluntary carbon market (VCM) and international finance goals, a senior official told Carbon Pulse on the sidelines of COP29.
Read MoreCOP29: Senegal gears up for Article 6 with Norway deal, national policies -official
Senegal’s environment ministry is preparing to leverage Article 6 carbon markets in support of national and international climate goals, according to statements made on Tuesday by a senior official at the COP29 global climate summit in Baku, Azerbaijan.
Read MoreCOP29: Norway signs slate of Article 6 agreements through new $740 mln funding facility
The Norwegian government is signing agreements with four developing countries in Baku through a new Article 6 financing initiative in support of the Nordic country’s national and UN climate targets.
Read MoreCOP29: Peru details operational timeline of national carbon registry
The Peruvian government on Monday detailed next steps for operationalisation of its National Registry of Greenhouse Gas Mitigation Activities (RENAMI).
Read MoreCOP29: Voluntary carbon markets sneak into UN climate finance talks, to dismay of green groups
A provision that “encourages” scaling voluntary carbon markets has been included in the latest text on climate finance at the COP29 global climate summit, though green groups and some developing countries are pushing hard against this language, citing integrity concerns.
Read MoreLATAM Roundup: Countries highlight carbon pricing at COP29, but Brazilian NBS keeps spotlight
Several Latin American countries have made carbon pricing announcements at and around the COP29 UN climate conference in Baku, but subnational Brazilian deals involving nature-based solutions (NBS) – and the Senate’s long-awaited ETS passage – continue to dominate headlines.
Read MoreCOP29: REDD+ projects could help conserve hydropower capacity in Brazil -study
With deforestation compromising Brazil’s hydropower generation capacity, REDD+ projects are one way to address the threats to electricity supply, according to a study presented at COP29.
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