COP29: Turkish ETS auctions to start in 2026 -official
Turkiye’s ETS will see installations required to report their emissions in 2025, and purchase allowances in 2026, the country’s deputy director of climate change told Carbon Pulse at COP29, where the country also presented its long-term strategy for how it plans to hit carbon neutrality by 2053.
Read MoreGlobal carbon emissions up again in 2024, scientists say
Global carbon emissions from fossil fuels have reached a record high in 2024, according to new research by scientists who estimate a 50% chance that global warming will exceed 1.5C consistently in around six years.
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: Saudi firm launches country’s first carbon market exchange
A state-backed Saudi company created to scale up the voluntary carbon market (VCM) in developing countries launched Saudi Arabia’s first voluntary carbon market exchange platform on Tuesday on the sidelines of COP29 in Baku.
Read MoreNational renewable targets fall far short of global capacity goals -report
National renewable targets will lead to a doubling of global capacity by 2030, far from the goal of tripling the total that was agreed one year ago at the COP29 climate conference.
Read MoreCOP29: Presidency secures early Article 6 outcome as parties approve carbon crediting standards
Azerbaijan’s COP29 presidency secured an early endorsement of key methodological standards under Article 6 during Monday’s opening plenary, driven to action by two years of failure at the annual UN climate summit to move forward on the Paris Agreement’s carbon crediting mechanism.
Read MoreUkraine adopts law to establish national ETS
Ukraine has adopted legislation establishing a national emission trading system (ETS) this week, which will start in 2026 with a two-year pilot phase and will become fully operational in 2029.
Read MoreEU climate chief Wopke Hoekstra sails through Parliament confirmation hearing
Wopke Hoestra will remain the EU’s climate chief for the next five years, after committing to push for a 90% emissions reduction target for 2040 while emphasising the need to reconcile climate action and industrial competitiveness, in his confirmation hearing with the European Parliament on Thursday.
Read MoreNew EU environment commissioner expresses support for developing nature credits
The newly confirmed EU environment commissioner at her hearing with the European Parliament on Tuesday evening said she will explore ‘well-designed’ nature credits during her tenure at the European Commission.
Read MoreEU’s new transport commissioner says he will not backtrack on 2035 internal combustion engine ban
The EU’s 2035 ban on internal combustion engine cars should be upheld, the commissioner-designate for sustainable tourism and transport said during his European Parliament hearing on Monday evening.
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