REDD.plus credits “not rigorous enough” for offsetting, say analysts
National-scale forest protection credits sold on the REDD.plus platform are “not rigorous enough to offset or compensate for emissions”, analysts said in a note on Wednesday, noting that the market does not seem to trust the marketplace.
Read MoreGlobal growth in CO2 emissions slows in 2022, IEA says
Global CO2 emissions from energy production are set to rise by a little less than 1% this year, slowing last year’s jump as more renewables and electric vehicle capacity outweighed a post-pandemic tilt to coal, the IEA said on Wednesday.
Read MoreBrussels to propose larger REPowerEU funding after assessing needs
The European Commission will propose adding “EU financial firepower” to the bloc’s REPowerEU initiative to exit Russian fossil fuels, it said on Tuesday, making good on an earlier call by Commission President Ursula von der Leyen and raising the potential for a further raid on the EU ETS.
Read MoreOffset ratings firm downgrades Canadian VCS project
A carbon credit ratings agency downgraded a Canadian VCS-registered project to its lowest score amid fresh information and a review.
Read MoreRatings agency gives Cambodian REDD project a major downgrading
A carbon credit rating agency has given a major downgrading to a Cambodian REDD forest protection project, while nudging the scores of several other projects it had placed on watch.
Read MoreUPDATE – Ready for mammoth forest credit issuance, Gabon says unidentified bidder offering above-market price
Upwards of 90 million national-scale forest protection credits from Gabon are likely coming to the global voluntary carbon market after the UN completed a technical check, with the country’s environment minister indicating that a bidder has emerged, willing to pay well above market for the units.
Read MoreEU Market: EUAs fail to re-test €70 amid REPowerEU doubts
EUAs inched up on Thursday following a strong auction but failed to match the previous session’s move above €70, as traders fretted about the potential for the EU to advance more carbon sales to help pay for the REPowerEU’s initiative.
Read MoreEuro Markets: EUAs ease back after topping €70 amid ‘less bearish’ REPowerEU sale prospects
EUAs climbed above €70 for the first time in over a week on Wednesday, though prices later fell back in thin trade as EU chief Ursula von der Leyen suggested boosting the size of the bloc’s REPowerEU initiative that is already set to be partly funded by carbon allowance sales.
Read MoreOffset ratings firm awards high grade to urban forestry project
One of the world’s few urban forestry offset projects to date has been awarded high marks by a ratings agency this week, while two cookstove schemes have had their ratings reaffirmed.
Read MoreUtility RWE confirms bringing forward phaseout of lignite generation by 2030
German utility RWE on Tuesday confirmed plans to end its lignite-based power generation in 2030, reaching a deal with Berlin to align with the government’s coal phaseout date even as the company receives state funding to bring coal operations out of reserve in the meantime.
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