Trust in voluntary carbon markets will come with time – and regulation, experts say
The EU’s Green Claims Directive, currently under negotiation in Brussels, could go some way towards restoring trust in the voluntary carbon market (VCM), provided that policymakers do it right and don’t overstretch their mandate, experts say.
Read MoreNew European Commission set for clearance as EU parties seal political pact
The new Commission headed by Ursula von der Leyen is set to begin its term on Dec. 1 after the three mainstream political groups in the European Parliament sealed an agreement on Wednesday evening to approve her team.
Read MoreEU countries back one-year delay to anti-deforestation law, reject Parliament’s amendments
The Council of EU member states on Wednesday approved a proposal to delay the bloc’s controversial anti-deforestation law by one year but did not endorse the European Parliament’s proposed amendments, triggering angry reactions from conservative lawmakers who called the move “irresponsible”.
Read MoreSerbia issues first GHG emissions licences, eyes EU CBAM compliance
Serbia has issued its first greenhouse gas emissions licences, the Energy Community Secretariat announced this week, hailing it as a “significant step” towards the country’s implementation of its EU ETS obligations.
Read MoreArcelorMittal suspends green roadmap at Belgian plant
A planned billion-euro investment in the greening of ArcelorMittal’s plant in Gent, Belgium was suspended earlier this week, casting doubt on the company’s wider commitment to decarbonisation in Europe.
Read MoreCOP29: Clean tech tariffs risk triggering ‘backlash’, UN agency warns
The imposition of tariffs and regulatory barriers on clean technologies may initially benefit countries wanting to protect nascent industries from competition, but they will backfire in the long run and ultimately hurt consumers, warned a senior official at UN Trade and Development (UNCTAD).
Read MoreCOP29: Dutch champion ‘green carbon’ trade as a feedstock, on way to negative emissions
Sustainable sources of carbon will be necessary in a net-zero economy – chiefly in petrochemicals and steelmaking – paving the way for green sources of CO2 derived from biomass to scale up negative emissions after 2050, the Dutch vice-minister for climate said at the COP29 summit in Baku, Azerbaijan.
Read MoreCOP29: Developing countries demand more transition finance to stop exploiting fossil fuels
Developing countries relying on oil and gas extraction for state revenues need technical and financial support to phase it down — even if they are keen to follow through on last year’s COP28 global commitment to pursue a just and orderly transition away from fossil fuels, according to experts at COP29.
Read MoreCOP29: Multiple countries outline plans to raise billions in forest carbon finance
Fourteen countries, including the US, France, and the UK, issued a statement at COP29 in Baku on Thursday affirming their commitment to scale up finance for forests, based on ‘high-integrity’ carbon markets.
Read MoreCOP29: Carbon trading in a warzone – Ukraine looks at Article 6 as stepping stone towards EU ETS
Ukraine can sell its emission reductions through the nascent Article 6.2 international market as it gradually establishes a national carbon trading scheme and pursues a link-up with the EU ETS, experts said on the sidelines of the COP29 summit.
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