PACM methodology approval suggests prompt market launch, rising VCM integrity, experts say
The Article 6.4 Supervisory Body’s (SBM) approval last week of the first Paris Agreement Crediting Mechanism (PACM) methodology is a positive sign for speedy market operationalisation and voluntary market (VCM) integrity, according to experts in the process.
Read MoreNon-profit accuses industrial gas giants of hiding emissions
The world’s biggest industrial gas makers are “hiding in plain sight” as major emitters of greenhouse gases, despite being lauded as leaders in sustainability, according to a report published this week that found their electricity needs rival that of small nations, while much of their carbon footprint remains unreported.
Read MoreAustralian lenders call to expand green finance taxonomy to cover climate adaptation
Four in five of Australia’s biggest banks and investors want the country’s new sustainable finance taxonomy to include climate mitigation to cover adaptation and resilience, a shift they say would unlock more capital, according to a report released Wednesday.
Read MoreJapanese cement maker bets on CO2 recycling to hit net zero by 2050
A Japanese cement maker is betting on recycling CO2 into artificial limestone and carbon capture to cut emissions as it targets net zero by 2050, it said Tuesday in a report.
Read MoreGlobal greenhouse gas accounting coalition partners with ICC to form independent panel
A recently launched business coalition, backed by BlackRock’s Global Infrastructure Partners and ExxonMobil, said on Tuesday it will form an independent technical panel to develop guidelines for a carbon emissions accounting system in partnership with Paris-based International Chamber of Commerce (ICC).
Read MoreThink tank sees coal emissions peaking in key Asian markets by 2030
A Helsinki-based think tank has predicted that coal power emissions in China, India, and Indonesia will peak by 2030, driven by rapid expansion of renewable energy.
Read MoreUpcoming compliance mechanisms to account for nearly all demand for Thailand’s credits -report
Thailand’s upcoming Climate Change Act could drive up to 98% demand for the Southeast Asian country’s carbon credits as compliance mechanisms such as an emissions trading system (ETS) and carbon tax are brought into force, according to a recent report by the market regulator.
Read MoreIndonesia sets absolute emissions cap in new NDC, ties funding to Article 6
Indonesia on Monday submitted a new climate plan that opts for absolute emissions caps for the first time, setting a 2030 peak, but with a hefty price tag that Jakarta hopes to pay for by using Article 6 carbon trading and foreign finance.
Read MoreIndonesia’s REDD+ projects fail to lift rural incomes, study finds
Indonesia’s forest carbon projects have failed to deliver lasting improvements in rural household incomes and may even have reduced earnings from agriculture, a study looking at some of the country’s flagship Reducing Emissions from Deforestation and Forest Degradation (REDD+) schemes has found.
Read MoreMalaysia banks on Article 6 to deliver new absolute 2035 emissions target
Malaysia on Friday pledged to cut up to 30 million tonnes of CO2 by 2035, supported by the use of international credits delivered under Article 6 of the Paris Agreement, after reaching peak emissions around the turn of this decade.
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