UN carbon crediting talks run late as some seek carve-outs for ‘transformative’ projects
The meeting of a body guiding the Paris Agreement’s carbon crediting mechanism ran late into the night on Thursday as experts wrangled over issues including whether to exempt some activities from being forced to ratchet up their ambition over time.
Read MoreEU confirms two African ports identified as carbon leakage hotspots for shipping
The EU has confirmed that two North African ports will be excluded from calculating emissions obligations for ships under the bloc’s ETS, part of detailed rules adopted this week for including maritime in the bloc’s carbon market from next year.
Read MoreRWE notches 24% drop in fossil-based power output over first nine months of year
RWE reported a drop of almost a quarter in its ETS-covered thermal power output over the first nine months, according to preliminary results published on Tuesday that showed an acceleration of coal decline over the past quarter.
Read MoreSaudi voluntary carbon market initiative to host developing nations ahead of COP28
Saudi Arabia’s Regional Voluntary Carbon Market Company (RVCMC) is to hold a summit for Global South participants ahead of the year-end COP28 UN climate talks in Dubai, it said on Tuesday.
Read MoreUzbekistan the first to secure funding under World Bank’s policy crediting programme
Uzbekistan is to receive $46.25 million to cut fossil fuel subsidies via a debut transaction from a longstanding World Bank-led programme to credit emissions reductions achieved through climate policy initiatives.
Read MoreVCM Report: Standardised carbon credit contracts fall to multi-month lows even as exchange spot volumes tick up
The prices of most standardised voluntary carbon credit contracts fell over the past week, with several slumping to lows last seen in June, as the market continues to wait for integrity initiatives to complete ongoing work, while exchange-based spot activity picked up as market sources cited seasonal corporate buying as part of 2023 emissions buying programmes.
Read MoreICE sees first trades in CORSIA first phase carbon credit futures
London-based exchange ICE has seen its first trades in its newly-launched CORSIA-eligible carbon credits, transactions that give an early indication of how correspondingly-adjusted units will be valued.
Read MoreEU lawmakers set to clear prospective Commission candidates after getting “clarity” on climate issues
Both candidates to be the next EU commissioners for the European Green Deal and for climate action secured the support of party coordinators representing the required two-thirds majority of the European Parliament’s environment committee (ENVI), the committee chair said on Wednesday as observers reacted to the candidates’ backing of a 90% emissions cut target for 2040.
Read MoreUK fuel-from-waste exporters urge Britain to ensure level playing field to EU on carbon costs
UK fuel-from-waste exporters have urged the government to ensure domestic incinerators pay a comparable carbon cost to the EU once the waste sectors become part of the two carbon markets.
Read MoreNature-based carbon developer closes $11.5 million to help fund Southeast Asian projects
A company founded by two forest carbon veterans has closed $11.5 million in funding from a Singapore-based investor to help develop projects in Southeast Asia.
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