Australia Market Roundup: Some 800K ACCUs issued as spot price continues to climb
Spot market Australian Carbon Credit Unit (ACCU) prices surged on Monday, as the Clean Energy Regulator issued some 800,000 units.
Read MoreCOP29: No sign of life in climate finance text as talks hit impasse
The COP29 climate finance text was still a mess midway through the summit, as several delegations described difficulty in engaging with key elements of the current draft, and observers suggesting they do not expect a strong outcome in Baku for the headline objective of the summit.
Read MoreCOP29: Trump presidency could spell well for the voluntary carbon market, stakeholders say
While President Donald Trump’s re-election is expected to generally stifle US momentum on climate action, there may be avenues for increased voluntary carbon market (VCM) enthusiasm under his leadership, market participants told Carbon Pulse on the sidelines of COP29.
Read MoreCOP29: Indonesia’s captive coal power plants to be included in country’s ETS from 2025, JETP head says
Captive coal-fired power plants (CFPPs), a large and growing source of emissions in Indonesia, will be covered under the country’s emissions trading scheme (ETS) from next year, according to the head of its Just Energy Transition Partnership (JETP) secretariat.
Read MoreAU Market: ACCU price hits A$42 amid accelerating demand, supply concerns
Australian Carbon Credit Unit (ACCU) prices on the secondary market have surged to A$42 ($26.55), as buying activity continues to ramp up by facilities covered under the Safeguard Mechanism ahead of the March deadline.
Read MoreCLARIFICATION – COP29: Madagascar uses cookstove project to test int’l carbon market legislation, a model which could be replicated, developer says
A voluntary cookstove project in Madagascar is working closely with the national government to act as a test case for its soon-to-be finalised carbon market legislation, which the developer says it is a model they would like to apply to other jurisdictions looking to participate in international crediting markets.
Read MoreCOP29: BRIEFING – Transition credits could help retire young coal plants in Asia, but complexities and risks abound
Transition credits could be a viable way to finance the early phase-out of coal-fired power plants in Asia, but familiar risks around project permanence, and buyer appetite are seen as major barriers to scaling up the practice, a panel discussion heard at COP29.
Read MoreCOP29: World Bank’s MIGA unveils Article 6 letter template to scale carbon markets
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank, on Thursday launched a letter of authorisation (LoA) template designed to help drive efficiencies in Article 6 carbon markets.
Read MoreCOP29: Troika emphasises high-level climate ambition despite Azerbaijan president’s remarks
The three presidents making up the so-called Troika on Wednesday urged countries to come up with ambitious new Nationally Determined Contributions (NDCs), despite COP host Azerbaijan yet to release one, and the country’s president declaring its oil and gas resources a “gift of god”.
Read MoreCOP29: “Sprawling” climate finance text leaves little room for compromise
Negotiations over the new global climate finance goal remain wide open after the first COP29 draft dropped on Wednesday, described by observers as a “sprawling” and messy text, despite a subtle sign from China that it may be open to contributing.
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