COP28: Subsidiary of UAE-based investor launches biofuel project in Brazil with large carbon credit potential
A renewable energy subsidiary of an Abu Dhabi-based asset management firm has launched a project in Brazil to produce large volumes of biofuel from a native plant species in the country, which will have substantial potential for generating carbon credits, reforesting the country, and job creation.
Read MoreCOP28: FEATURE – Ocean nations call on high-tech science ship to map marine carbon stores
A science vessel currently docked in Dubai is being called upon by governments around the world to help better understand the carbon and biodiversity stores of their coastal waters.
Read MoreCOP28: First carbon market financing of large-scale grid infrastructure proposed with new methodology, using Art. 6.2
The first use of carbon credits to de-risk the financing of large-scale grid infrastructure build-out in developing countries, using the Paris Agreement’s Article 6.2 mechanism, has been put forward with the launch of a new study in partnership with a European utility-backed project developer, to be put into practice in an African country in need of transmission line upgrades.
Read MoreCOP28: UAE joins Paris-aligned coal phaseout pledge, adding momentum to growing movement
The UAE has joined a group of around 180 countries, cities, regions, and organisations aiming to accelerate the phaseout of coal-fired power and transition to clean energy, as the COP28 host helps to strengthen a common call to end the era of new coal power.
Read MoreCOP28: Qatar organisation launches initiative to accelerate Article 6 implementation, announces registry buy
A Qatar-based initiative has launched at COP28 to stimulate the rollout of carbon projects that align with Article 6 of the Paris Agreement, while a registry acquisition was announced as part of this effort.
Read MoreCOP28: Oil majors unite around urgent action on methane in wake of global summit pledge
Oil majors from France to the UAE highlighted ongoing efforts to cut methane emissions through new partnerships and technologies at COP28 on Tuesday, in line with the target laid out under the Oil and Gas Decarbonisation Charter (OGDC) to reach almost zero methane emissions by 2030.
Read MoreCOP28: Potential for price floors and integral role of Indigenous Peoples central to discussions on biodiversity credits
Indigenous Peoples and local communities need to be at the heart of developing an effective and equitable biodiversity market due to the key role they play as stewards of biodiversity-rich land, while the introduction of a credit price floor could help ensure an equitable approach here, said speakers from the International Advisory Panel on Biodiversity Credits at COP28 today.
Read MoreCOP28: Gore highlights shortfalls in methane pledge, urges use of global inventory to monitor progress
Al Gore emphasised the importance of Saturday’s methane pledge by almost 50 oil and gas companies to work towards near zero methane emissions, while highlighting glaring gaps in the announcement due to the absence of some of the world’s highest emitting companies and countries, during a plenary session at COP28.
Read MoreCOP28: Verra to issue “very shortly” Article 6-aligned carbon credits, launch next version of VCS in 2025
Verra is set to soon issue its first carbon credits aligned with Article 6 of the Paris Agreement from projects in Africa, and also expects to launch its Verified Carbon Standard Version 5.0 in 2025, a senior member of the standards body told a panel at a COP28 side event.
Read MoreCOP28: EU’s Von der Leyen calls for common standards to unite voluntary carbon market
European Commission President Ursula Von der Leyen on Thursday highlighted the key role the voluntary carbon market can play in accelerating the roll-out of global carbon pricing, while emphasising that the market needs common standards to improve trust in the credibility of projects on the part of investors.
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