COP29: Trade issues complicate talks as countries call for EU CBAM to be simplified
The EU’s carbon border adjustment mechanism (CBAM) is adding tensions to already difficult negotiations at COP29 in Baku, with top government officials telling Carbon Pulse that the European Union should be more flexible with the policy.
Read MoreSTX cuts staff amid voluntary carbon market slowdown
Environmental commodities trading firm STX Group is in the process of restructuring and cutting its workforce, sources told Carbon Pulse.
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: Trouble in paradise – After strong start, old conflicts on Article 6 come to the fore
After a solid start, talks on UN carbon markets in Baku at COP29 are heading back into deep water after a lengthy and heavily-bracketed first draft text concerning Article 6 was released, with reports of old conflicts that caused negotiations to collapse last year bubbling back up to the surface.
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.
Read MoreCOP29: 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.
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