Singaporean tech company inks first offtake deal for REDD projects in PNG

Published 18:25 on September 28, 2023  /  Last updated at 18:25 on September 28, 2023  / Paddy Gourlay /  Asia Pacific, International, Nature-based, Shipping, Voluntary

A Singaporean tech company has potentially inked its first offtake deal for carbon credits as it seeks to develop over 5.3 million hectares of deforestation avoidance projects in Papua New Guinea (PNG) that are estimated to produce almost 159 million carbon credits annually, it announced Thursday.

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CIX proposes to add another REDD project for its NBS assessment, brokers say market fragmenting

Published 13:53 on September 28, 2023  /  Last updated at 13:53 on September 28, 2023  / Paddy Gourlay /  Africa, Americas, Asia Pacific, EMEA, Nature-based, Other APAC, South & Central, Voluntary

Climate Impact X (CIX) has proposed adding another REDD project for inclusion in its daily benchmark assessment of the sector, at a time when over-the-counter brokers say the market is becoming more fragmented.

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Zimbabwe drops controversial plan to give 25% of carbon credit revenue to local communities

Published 18:12 on September 27, 2023  /  Last updated at 19:00 on September 27, 2023  / Paddy Gourlay /  Africa, Nature-based, Voluntary

Zimbabwe has backed down on forcing carbon offset project developers to hand over a quarter of their share of proceeds from credit sales to local communities, the government announced Wednesday, following a backlash from investors and market participants.

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Buying UK employees a pint of beer every week more expensive than climate action, finds survey

Published 14:43 on September 27, 2023  /  Last updated at 14:43 on September 27, 2023  / Paddy Gourlay /  EMEA, Voluntary

UK technology companies could spend less than the cost of a pint of beer on every employee per week to become one of the top 100 companies in the country for emissions mitigation, according to a survey published on Wednesday.

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London-based investment firm targets Brazil for its nature-based solutions strategy

Published 18:48 on September 26, 2023  /  Last updated at 18:48 on September 26, 2023  / Paddy Gourlay /  Americas, EMEA, International, Nature-based, Voluntary

A London-based investment firm, fresh from raising $1.5 billion, is targeting Brazil as it launches its new nature-based strategy featuring carbon projects as well as commodity production, it announced Tuesday in a move designed to complement an earlier focus on decarbonising heavy industry.

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VCM Report: Bounce in V18 standardised REDD contracts masks moribund market

Published 17:48 on September 25, 2023  /  Last updated at 18:17 on September 25, 2023  / Paddy Gourlay /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, EMEA, International, Japan, Mexico, Middle East, Nature-based, New Zealand, Paris Article 6, South Korea, Switzerland, US, Voluntary

A slight price recovery in nearby futures for REDD avoided deforestation credits over the past week provided one of the few bullish signs for the voluntary carbon market (VCM), which remains in limbo while the first badges of integrity are readied by the cross-stakeholder body ICVCM and faces increasing competition from the rise of Paris Agreement-approved units.

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Rating agency warns CCP labels won’t guarantee each credit is worth a tonne of CO2

Published 16:49 on September 22, 2023  /  Last updated at 20:11 on September 22, 2023  / Paddy Gourlay /  International, Nature-based, Voluntary

A carbon credit rating agency has warned against a headlong rush into commoditising carbon credits as the ICVCM prepares to tag the first categories of unit with its CCP integrity label, which is expected to reassure corporates that each credit is worth a tonne of CO2.

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Swiss entity raises fuel levy to buy an extra $663 million worth of ITMOs

Published 19:31 on September 21, 2023  /  Last updated at 20:12 on September 21, 2023  / Paddy Gourlay /  Africa, Americas, Asia Pacific, EMEA, International, Paris Article 6, Switzerland

A Swiss foundation is raising the fee it charges fuel distributors to help source a huge amount of international carbon credits required by a change in the nation’s climate law.

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UK PM pushes back car ban and heat pump targets, places faith in market to hit 2030 climate goals

Published 19:58 on September 20, 2023  /  Last updated at 09:07 on September 21, 2023  / Paddy Gourlay /  EMEA, International, UK ETS

UK Prime Minister Rishi Sunak has pushed back targets for electric vehicles and installing heat pumps, as he launched “sensible green leadership” that placed faith in the dynamism of markets to meet the UK’s 2030 climate target and its legally-binding net-zero 2050 goal.

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CORRECTION – Xpansiv’s CBL set to launch live, two-way trading of specific project carbon credits and I-RECs

Published 15:15 on September 20, 2023  /  Last updated at 18:36 on September 20, 2023  / Paddy Gourlay /  Aviation/CORSIA, International, Nature-based, Voluntary

Xpansiv’s CBL spot exchange is set to launch live, two-way trading for specific project carbon credits as well as international renewable energy credits (I-REC) in October amid a jump in the number of active companies trading on the screen, the company announced on Wednesday.

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