COP29: “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.
Read MoreCOP29: Approval of Article 6 standards paves way for methodologies from mid-2025
Carbon crediting methodologies may now be approved from mid-2025 following Monday’s COP29 agreement on Article 6.4 standards, but technical details still need to be ironed out both in Baku and once the international market becomes operational, according to experts.
Read MoreCOP29: Singapore commits $500 mln to Asia transition finance partnership
Singapore on Tuesday announced it will commit $500 million in concessional funding to its Financing Asia’s Transition Partnership (FAST-P), as it laid out the next steps of its plan for coal power plant transition credits.
Read MoreCOP29: CORSIA credit approval details ‘a moving target’, Verra CEO says
Further details from the UN aviation body ICAO on its voluntary credit approvals is unlikely to be published until the end of the month at the earliest, according to Verra’s CEO, making it hard to say when eligible credits are likely to appear and from what countries.
Read MoreCOP29: Host Azerbaijan’s state oiler sees three-fold increase in oil and gas deals struck in the lead up to talks
The state-owned oil company (SOCAR) of COP29 host Azerbaijan has made some $8 billion of deals with foreign firms in the year leading up to the talks, according to analysis published Monday.
Read MoreSecond Australian CBAM consultation considers starting with cement, lime, and clinker
Sectors including cement, lime, and clinker would likely be the first to be covered under an Australian Carbon Border Adjustment Mechanism (CBAM), according to a government paper published Friday, though no final decisions have been taken.
Read MoreBRIEFING: Fate of Australia’s carbon market Safeguard Mechanism uncertain as elections near
Australia’s conservative Coalition party’s failure to clarify its position on the Safeguard Mechanism and the lengthy development process of new Australian Carbon Credit Unit (ACCU) methods has created an air of uncertainty in the market, experts told Carbon Pulse this week.
Read MoreAustralia Market Roundup: State of the Climate report warns of increasing ocean temperatures, nearly 800,000 ACCUs issued
The State of the Climate report shows Australia’s average temperatures have already risen 1.5C for the first time since records began, as the latest Clean Energy Regulator issuance saw an increase in Australian Carbon Credit Units (ACCUs).
Read MoreINTERVIEW: Australia’s ERAC chair praises ACCU method proposals while noting uncertainty on timelines
Australia’s first full-time chair of the Emissions Reduction Assurance Committee (ERAC), which deals with carbon farming credits, has praised the quality of carbon method proposals submitted through the expression of interest (EOI) process, but could not say how long it would take for those selected to be developed.
Read MoreAustralian oversight body selects four methods to progress, others delayed again
The Emissions Reduction Assurance Committee (ERAC) has selected four proposed carbon credit methods to progress to the next stage of development, however other closely-watched ones have been pushed back to the first half of next year, the Australian climate minister told a conference Wednesday.
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