COP27: Negotiators sign off text on UN carbon market rules that defers much to next year
Government officials adopted text on UN carbon markets on Saturday afternoon and the documents were subsequently adopted by the full COP27 in Sharm el-Sheikh, with negotiators deferring many battles until next year.
Read MoreCOP27: EU proposes fossil fuel-funded UN climate loss and damage facility, with shipping and aviation contributing
The EU shifted against a longstanding deadlock at UN climate talks on Thursday by proposing to establish a loss and damage fund for the most vulnerable countries, using money that could be raised partly by a levy on aviation, shipping, or fossil fuels.
Read MoreCOP27: LEAF Coalition eyes first issuances of jurisdictional REDD credits in H1 2023
The public-private LEAF Coalition expects the first issuances of jurisdictional REDD credits under the ART TREES standard in the first half of next year, a programme coordinator told a COP27 side event on Wednesday, adding that four more Brazilian states are due to sign up aiming to supply units in future.
Read MoreCOP27: As work piles up, UN summit hosts give officials more time
UN COP27 climate talks hosts Egypt have tasked officials to continue negotiations for two more days before ministers take over, maintaining current formations despite slow-going during the first half of the two-week summit on issues such as Article 6 carbon markets.
Read MoreEU negotiators agree on ETS price spike measure, market oversight -MEP Liese
EU negotiators have agreed a united position on an ETS price spike measure and market oversight provisions but failed to make headway on major sticking points during trilogue negotiations on reforming the bloc’s carbon market this week, the European Parliament’s lead negotiator Peter Liese said on Friday.
Read MoreEU strikes provisional deal on land use emissions
EU legislators early on Friday struck a provisional deal to deepen cuts in land use (LULUCF) emissions in line the bloc’s overall 2030 climate target, enabling ministers to head to COP27 UN climate talks next week with three major elements of their flagship Fit for 55 climate package in place.
Read MoreCOP27: Roundup for Day 4 – Nov. 10
It’s Thursday – Science Day – at COP27 in Sharm el-Sheikh, and Carbon Pulse will keep you updated with related developments throughout the day. Timestamps in local time (EEST, GMT+2).
Read MoreEU Parliament signs off on REPowerEU changes, seeking to frontload ETS auction revenue entirely from govt supply
The European Parliament voted on Thursday in line with several of its committees over the bloc’s REPowerEU package to ditch Russian fossil fuels, teeing up a tussle with member states on several issues including sources of carbon allowance funding.
Read MoreUN posts Gabon’s REDD results, paving way for potentially huge national-scale carbon credit issuance
The UN late on Wednesday posted Gabon’s REDD forest protection results over the past decade, the final procedural step that paves the way for the world’s biggest carbon credit issuance.
Read MoreRatings firm downgrades VCS-certified African project on overcrediting risk
A carbon credit ratings agency has downgraded is score for major VCS-certified African REDD project on concerns that it may have been awarded too many credits.
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