COP29: Govts spotlight efforts to minimise pass-through costs of carbon pricing
Countries with domestic carbon pricing efforts emphasised the specific policy design mechanisms needed to minimise pass-through costs to end consumers, government officials told an event on the sidelines of COP29.
Read MoreCOP29: Corporates call for carbon pricing certainty to decarbonise heavy industry
Heavy-emitting industries point to carbon capture and storage (CCS) as essential to achieve emissions reductions, but the current ecosystem of global carbon pricing measures remains insufficient for scale-up, corporates said on the sidelines of the COP29 global climate summit in Baku, Azerbaijan.
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: Trump presidency could spell well for the voluntary carbon market, stakeholders say
While President Donald Trump’s re-election is expected to generally stifle US momentum on climate action, there may be avenues for increased voluntary carbon market (VCM) enthusiasm under his leadership, market participants told Carbon Pulse on the sidelines of COP29.
Read MoreUPDATE – COP29: California requests Quebec to delay draft WCI cap-and-trade regulations till Q1 2025
Quebec will publish draft amendments to its cap-and-trade programme in early 2025 on request of a delay from California, the Quebec environment minister told Carbon Pulse on the sidelines of COP29.
Read MoreCOP29: Canadian oil and gas emissions cap not expected to survive legal challenge, Alberta stakeholders say
Alberta government and industry were sceptical of the viability and effectiveness of Canada’s emissions cap on its oil and gas sector, highlighting instead the success of provincial emissions reductions efforts on the sidelines of COP29.
Read MoreBrazil’s Senate overcomes long-standing impasse, approves national ETS legislation
Brazil’s Senate voted Wednesday to approve landmark national ETS legislation, overcoming a year of negotiations to pass a cap-and-trade scheme set to be the largest in Latin America.
Read MoreCOP29: Major fossil fuel-producing countries commit funding, announce penalties to crack down on methane emissions
South Korea and the UK announced multimillion dollar funding commitments to support international efforts to reduce methane emissions, while the US launched a fine of over $1,000/tonne on excess production of the greenhouse gas from the fossil fuel sector on Tuesday.
Read MoreCOP29: Presidency secures early Article 6 outcome as parties approve carbon crediting standards
Azerbaijan’s COP29 presidency secured an early endorsement of key methodological standards under Article 6 during Monday’s opening plenary, driven to action by two years of failure at the annual UN climate summit to move forward on the Paris Agreement’s carbon crediting mechanism.
Read MoreCOP29: Envoy Podesta confident of continued US climate action under Trump presidency
US climate envoy John Podesta acknowledged the election of Donald Trump as “disappointing” for climate action, but remained steadfast in continued private sector and subnational-led efforts to reduce emissions at COP29 on Monday.
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