LATAM Roundup: Brazilian bonanza in carbon markets as COP29 begins
A barrage of developments has come out of Brazil in the week ending Nov. 10 as carbon market observers wait with bated breath for congressional ETS approval this week, setting the stage for a dynamic first week at COP29 in Baku, Azerbaijan.
Read MoreCOP29: BRIEFING – Article 6.2 advice wants distinct registries with synced-up reporting
Initial recommendations for a joint Article 6.2 Crediting Protocol between Singapore, Verra, and Gold Standard advise synchronised, detailed reporting and credit traceability between UN, national, and private carbon registries – but avoid consolidation, giving each a distinct role.
Read MoreCOP29: UN regional centres helping to build global Article 6 capacity
UN Regional Collaboration Centres (RCCs) channelling funds from the Clean Development Mechanism (CDM) have played a key role in developing notable Article 6 and carbon pricing initiatives in the Global South, with ongoing projects expected to yield further concrete outcomes in the near and medium term.
Read MoreColombian carbon industry groups dispute peer-reviewed study’s ARR claims
Colombian carbon body Asocarbono and the National Federation of Timber Industries (Fedemaderas) have rejected a peer-reviewed study criticising Colombia’s afforestation, reforestation, and revegetation (ARR) projects.
Read MoreCOP29: Brazil announces new UN climate goal, targets 59-67% emissions cut
COP30 host Brazil has announced a new UN climate plan that aims to reduce net greenhouse gas emission by 59-67% in 2035, compared to 2005 levels.
Read MoreBrazilian development bank to pour nearly $90 mln into new ethanol plant
The Brazilian National Bank for Economic and Social Development (BNDES) has approved R$500 million ($88 mln) in financing for a new biofuels-producing ethanol plant, which it said will support Brazil’s goals to decarbonise the transport sector.
Read MoreColombian afforestation projects often use non-native species, unsuited ecosystems -study
A peer-reviewed study of dozens of afforestation, reforestation, and revegetation (ARR) projects in Colombia has found that while they have removed over 100 million tonnes of CO2, afforestation often uses non-native species or situates projects in ecologically inappropriate biomes.
Read MoreBrazilian partnership to restore 334k hectares of forest, generate carbon credits
An alliance of several Brazilian public institutions on Friday agreed to structure new forest concessions for sustainable logging and forest restoration, offsetting the cost of restoring 334,000 hectares of degraded areas in the Amazon using the proceeds from carbon credits.
Read MoreGold Standard launches second public consultation of coal phase-out methodology
The second public consultation on Gold Standard’s coal plant decommissioning methodology launched Tuesday, seeking additional feedback on leakage, embodied emissions, and just transition requirements.
Read MoreLATAM Roundup: Countries press pause, press on, press regulation
The week ending Nov. 3 saw hugely varied news for carbon markets in Latin America and Caribbean, alternately accelerating and decelerating market development in core and emerging markets like Brazil, Argentina, and Panama.
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