Brazilian public prosecutors ask court to suspend Amazonas carbon credit concessions -media
Brazilian public prosecutors asked a federal court this week to suspend carbon credit concessions launched by the state of Amazonas, citing concerns around potential violations of Indigenous rights, according to a national media outlet.
Read MoreCOP29: UK gains ground in latest climate change performance index, but no countries on track for 1.5C
The UK achieved the largest rise in annual rankings of countries’ climate change performance, published Wednesday, but no nations are on a 1.5 C-aligned pathway despite the strong global growth of renewables.
Read MoreCOP29: BRIEFING – Experts see rising chance of US CBAM, along with international challenges
There is an increasingly strong likelihood that the US will implement a carbon border adjustment mechanism (CBAM), but such a policy would likely come with challenges on the international level, according to experts speaking at COP29.
Read MoreBrazil’s lower chamber reapproves landmark national cap-and-trade legislation, sends to President Lula for signing
Brazil’s Chamber of Deputies passed on Tuesday evening landmark legislation to establish a nationwide ETS, as the historic proposal for what would be the largest compliance carbon market in Latin America rolls onwards towards full approval.
Read MoreUPDATED – COP29: G20 endorses broad climate finance, but fails to provide clarity on NCQG
The G20 reaffirmed a broad commitment to climate finance efforts in a communique following the conclusion of its summit in Brazil, but observers say more is needed from the world’s wealthiest countries to adequately address climate change globally.
Read MoreCOP29: Benin, Norway sign bilateral Article 6 agreement
Norway and Benin on Sunday signed a bilateral Article 6 agreement at COP29, according to a government press release.
Read MoreUS launches $10 bln global forest coalition, other Amazon funding initiatives
The Biden administration announced a raft of new initiatives Sunday that will increase funding for forest conversation and restoration in the Brazilian Amazon, including the launch of a coalition that aims to mobilise at least $10 billion by 2030.
Read MorePREVIEW: Experts call for ambitious NDCs to spur investment, hope G20 summit will ease COP pressure
On the eve of a G20 meeting in Rio do Janeiro on next week, business groups and a Brazilian national official called for developing countries to submit ambitious national climate plans to elicit greater investment, while observers said the summit in Brazil could ease parallel finance negotiations at the UN climate summit in Baku.
Read MoreCLARIFICATION – COP29: Brazilian nature-based developers’ alliance signs carbon credits MoU with national export agency
A group of Brazil-based nature-based solutions (NBS) project developers and the nation’s export agency signed a memorandum of understanding (MoU) on Friday to promote the sale of carbon credits abroad.
Read MoreTimberland management firm’s LATAM reforestation fund reaches $500 mln, as Petrobras steps up Amazon investment
The timberland management division of a Sao Paulo-based investment bank has reached $500 million for its Latin American reforestation fund, while Brazilian oil giant Petrobras has pledged increased funding for ecological restoration in the Amazon in partnership with the country’s development bank.
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