SB62: African countries say they need investable NDCs to attract climate finance
African countries are increasingly looking to the private sector to help them meet their updated commitments to the Paris Agreement, with Somalia becoming the latest on Thursday to call on investors and carbon credit buyers to back projects in the country.
Read MoreSB62: Four out of five people in favour of pollution tax for fossil fuel companies
More than 80% of people across the political and income spectrums think governments should impose a polluter profits tax on fossil fuel companies for the loss and damage caused by climate change, a survey released on Thursday has found.
Read MoreSB62: Sweden has spent large share of budget for Article 6 trades -official
Sweden has spent about 80% of its budget for carbon credits traded through Article 6 of the Paris Agreement and committed the remaining money, an official confirmed in Bonn.
Read MoreUPDATE – SB62: World at risk of long-term 1.5C overshoot, finds new climate plan assessment
Insufficient government action to strengthen 2030 climate goals and submit ambitious 2035 targets is placing the Paris Agreement’s 1.5C warming limit at significant risk of long-term overshoot, according to a new assessment from a green group.
Read MoreSB62: FEATURE – Countries still can’t decide how to spend leftover carbon credits cash, amid UN budget pains
A long-running dispute between countries over how to use leftover money from the UN’s old carbon crediting mechanism remains far from agreement at global intersessional climate conference in Bonn this week, despite pressure to put funds towards kickstarting the Paris Agreement’s new market framework.
Read MoreSB62: Negotiators agree Bonn agenda, ending fight over trade measures, finance
Climate negotiators approved the agenda for their 10-day Bonn meeting on Tuesday evening, after a tense first two days in which some pushed to include discussions on unilateral trade measures like border carbon fees and the role of wealthy countries in providing climate finance.
Read MoreSB62: First day of Bonn talks derailed by fight over border carbon fees
Climate negotiations have yet to formally begin in Bonn, after talks on the first day were held up by an agenda fight that hinged on unilateral border carbon fees, observers told Carbon Pulse on Monday evening.
Read MoreSB62: Sweden strikes Article 6 deal with Kenya
Sweden struck its fourth Article 6 emissions trading agreement on Monday with Kenya, as the EU country says it is carefully scrutinising national Paris Agreement commitments from developing countries to ensure that such deals result in strong additional emission reductions.
Read MoreBRIEFING: To take Paris seriously, Article 6 must drive bigger, additional emission cuts, say new principles
The baseline for estimating the emissions that would have been released without a carbon project in place should decline by at least 2% per year to align with the Paris Agreement’s goals — rather than the current 1% floor, according to one of the authors of Oxford University’s new principles for trading through Article 6.
Read MoreOxford principles aim to define integrity, avoid greenwashing in Article 6 carbon markets
Countries, companies, and other organisations need to be careful how they use and account for emissions reductions traded under Article 6 of the Paris Agreement, the University of Oxford said in a report setting out three principles for ensuring that the new international market does not become an avenue for greenwashing national and corporate climate action.
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