COP29: IEA considers buying clean cooking carbon credits, Verra unsure on ambition level in UN methodology
The International Energy Agency (IEA) is interested in purchasing clean cooking carbon credits, a representative confirmed Monday at the COP29 climate summit, while a senior member at Verra said the voluntary standard remained in a wait-and-see stance for a new UN-backed methodology for the sector.
Read MoreCOP29: “Dark vessels”, oil and gas under-reporting fuelling unrelenting rise in global GHG emissions -data
“Dark vessels”, or ships that disable their tracking systems, are responsible for at least 7% of global maritime emissions, secretly releasing more than 80 million tonnes of CO2 annually, while unfettered methane output from the oil and gas sector is contributing to the unrelenting rise in global greenhouse gas emissions.
Read MoreCOP29: INTERVIEW – Morocco readies Article 6 framework, expects ITMO offtakes in 2025
Morocco will launch and implement an Article 6 framework in the coming months, culminating in offtake agreements involving millions of Internationally Transferred Mitigation Outcomes (ITMOs), according to a government advisor speaking to Carbon Pulse on the sidelines of COP29 in Baku.
Read MoreCOP29: Tanzania agrees deal to distribute 1 mln cookstoves
The federal government of Tanzania has teamed up with a Nairobi-based cookstoves manufacturer and project developer to distribute 1 million clean cookstoves throughout the East African nation to be funded by voluntary carbon credits.
Read MoreCOP29: Russia, Ethiopia partner on low-carbon development initiatives
BRICS members Russia and Ethiopia signed a memorandum of understanding (MoU) on low-carbon development at COP29 in Baku, local media reported on Thursday.
Read MoreCOP29: Developing countries demand more transition finance to stop exploiting fossil fuels
Developing countries relying on oil and gas extraction for state revenues need technical and financial support to phase it down — even if they are keen to follow through on last year’s COP28 global commitment to pursue a just and orderly transition away from fossil fuels, according to experts at COP29.
Read MoreMining giant invests $16 mln into Madagascar REDD project with eye on CCP label
A mining giant has committed $16 million into the Makira Natural Park REDD Project in northern Madagascar that will help the project scale as well as reassess its deforestation baseline under Verra’s VM0048 methodology, which has just been approved by the Integrity Council for the Voluntary Carbon Market (ICVCM) as eligible for its stamp of high quality.
Read MoreCOP29: BRIEFING – Global coal phaseout requires targeted finance and agreement on timelines, experts say
The coal transition requires targeted finance, with challenges in balancing investor expectations and supporting coal-dependent regions, experts said at COP29.
Read MoreCarbon credit financier notches small profit in Q3 despite project write-down
A Toronto-based carbon credit financier eked out a small net profit in Q3 2024 despite further writing down the value of one of its projects.
Read MoreCOP29: Madagascar uses cookstove project to test int’l carbon market legislation, a model which could be replicated, developer says
A voluntary cookstove project in Madagascar is working closely with the national government to act as a test case for its soon-to-be finalised carbon market legislation, which the developer says it is a model they would like to apply to other jurisdictions looking to participate in international crediting markets.
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