UPDATE – COP27: US climate envoy Kerry announces “light on detail” plan to decarbonise power in developing countries via corporate carbon credit purchases
US climate envoy John Kerry announced on Wednesday plans to enable companies to buy carbon credits to support developing countries in accelerating their phaseout of coal power and renewable power expansion, aiming to develop a framework by the end of next year to scale the finance available and confirming a partnership with a new African carbon market initiative.
Read MoreVCM originator strikes three-year forward deal to finance Africa’s largest e-bike programme
A major carbon project originator as struck a three-year deal to supply a European origination firm with offsets resulting from the rollout of hundreds of thousands of electric motorbikes in Africa.
Read MoreCOP27: Roundup for Day 1 – Nov. 7
It’s the first Monday of COP27 and the climate talks have officially gotten underway in Sharm el-Sheikh. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout each day.
Read MoreGuyana in process of having over 30 mln forest carbon credits certified, says vice president
Guyana is in the process of certifying more than 30 million forest carbon credits, the country’s vice president Bharrat Jagdeo has told local media, a move that could see some of the first verified jurisdictional carbon credits hit the market.
Read MoreRatings firm downgrades four VER projects to rock-bottom scores
A carbon credit ratings agency has downgraded the scores of four projects and given the same lowest-possible grade for two newly examined projects of similar characteristics in its latest update.
Read MoreBrussels confirms a near-doubling of EU Innovation Fund cash in latest call
The European Commission is launching the third call for large-scale projects under the EU ETS-funded Innovation Fund, confirming an earlier intention for the call to be at €3 billion.
Read MoreANALYSIS: Energy firms dominate list of top 50 offset-purchasing companies
Energy companies dominate the list of top 50 firms by volume that have retired carbon credits, according to analysts, with several South African and Columbian corporates having purchased a substantial volume of credits for cancellation against domestic carbon tax policies, and large oil majors also accounting for a large proportion of units retired.
Read MoreUS, UAE strike deal to spur $100 bln of clean energy investments
The US and UAE have signed a partnership to catalyse $100 billion of investment in clean energy projects and add 100 GW of clean energy globally by 2035, the countries announced Tuesday.
Read MoreEU extends state aid flexibility, demands ‘green strings’ are attached
The European Commission has extended the bloc’s state aid Temporary Crisis Framework to the end of next year, meaning member states can continue providing additional support to ETS-covered entities hit by the energy crisis and ongoing war in Ukraine.
Read MoreRatings firm puts 13 projects on watch for a potential change in grade
A carbon credit ratings firm has put a bumper 13 projects on watch this week, raising the prospect of a change in their ratings.
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