INTERVIEW: Article 6 decision marks ‘fundamental’ shift in landscape for project developers
The breakthrough on Article 6, achieved in Baku last month, will have a huge impact on the ground in terms of project development, according to executives at a global association for the sector.
Read MorePeru publishes decree aligning national climate strategy with net zero, promotes forest land titling, REDD+
The president’s office in Peru has issued a supreme decree that seeks to enshrine into law a new national climate strategy, aligning it with 2050 net zero plans and carving out a major role for REDD+ avoided deforestation and carbon finance.
Read MoreSpanish bank to mobilise €100 bln in sustainable finance through 2027
A Spanish bank has pledged to mobilise €100 billion in sustainable finance over the next three years, it announced Wednesday.
Read MoreANALYSIS: International carbon markets now “open for business” but patience needed before scale hits
UN-approved international carbon markets are now ready to fully operationalise, following the landmark decision to finalise Article 6 in Baku, but questions over demand, and a robust methodological work programme scheduled for 2025, means it may take years until the planned implementation produces credit transactions at scale.
Read MoreUAE considers carbon tax, cap-and-trade emissions scheme -Bloomberg
The United Arab Emirates (UAE) are considering implementing a compliance carbon scheme similar to the EU ETS, as well as an emissions levy, according to sources familiar with the matter, as reported by Bloomberg.
Read MoreUK likely not to use Article 6 towards next UN climate plan, says negotiator
The UK will likely not use Article 6 towards meeting the country’s next UN climate plan under the Paris Agreement, its negotiator on international carbon markets said Tuesday.
Read MoreCOP29: Baku closes with frustration over new $300 bln climate finance goal, omission of fossil fuels
Wealthy countries will aim to shore up $300 billion per year of climate finance by 2035, as the core part of a global annual economy-wide target of $1.3 trillion, under a contentious agreement struck early Sunday morning at the close of COP29.
Read MoreCOP29: Countries clinch Article 6 deal in momentous win for international carbon markets
Negotiators from nearly 200 countries have reached a historic agreement on international carbon markets at COP29, in a decision that finally concludes the rules governing the trading and crediting of mitigation outcomes under Article 6 of the Paris Agreement.
Read MoreCOP29: Countries on cusp of historic Article 6 deal in Baku as final texts land
Negotiators from nearly 200 countries could be on the verge of a historic agreement on international carbon markets at COP29, after presidency proposal texts were published late on Friday and multiple sources said that consensus may now be present on the key outstanding technicalities of international carbon trade under Article 6.
Read MoreGhana Article 6.2 cookstoves project accused of over-crediting by non-profit
A Swiss NGO has alleged that a clean cooking project developed under a bilateral agreement between Ghana and Switzerland is using assumptions that inflate issuances of credits generated under Article 6.2 of the Paris Agreement, known as Internationally Transferred Mitigation Outcomes (ITMOs).
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