World Bank drops climate financing targets, buckles under US pressure
The World Bank said it will scrap two headline climate financing targets, including its goal for 45% of financing to deliver climate benefits, as it shifts its focus from how much the bank spends on climate-related projects.
Read MoreCountries reaffirm commitment to bolstering energy efficiency by 2030
Countries have reaffirmed the importance of scaling up energy efficiency in a new action plan signed in Montreal this week at a conference hosted by the International Energy Agency (IEA), which includes reference to enhancing efficiency in data centres.
Read MoreNGOs propose global ‘no-go’ mining framework for environmentally and culturally sensitive areas
A coalition of civil society organisations has proposed a framework identifying areas that should be permanently off-limits to mining, arguing that stronger safeguards are needed to prevent irreversible environmental damage and human rights violations as demand for critical minerals accelerates.
Read MoreVCM REPORT: CORSIA futures slip further, CDM deadline approaches with approvals still low Â
CORSIA futures slipped marginally lower last week, with the benchmark now at a little above $9/tonne, while hundreds of carbon projects registered under the Kyoto Protocol’s Clean Development Mechanism (CDM) look set to miss a Tuesday deadline to enable their transition to the new Paris Agreement Crediting Mechanism (PACM). Â
Read MoreMost eligible CDM projects on course to miss out on Article 6 transition as deadline looms
The vast majority of carbon projects developed under the Kyoto Protocol’s Clean Development Mechanism (CDM) are set to miss a Tuesday deadline to enable them to transition to UN crediting under the Paris Agreement, leaving many legacy projects outside the new scheme.
Read MoreTanzania rejects claims carbon market deals surrender natural resources
Tanzania has rejected opposition claims that international carbon trading agreements amount to the sale or transfer of control over the country’s natural resources, insisting that its carbon market framework is designed to protect national sovereignty while generating new revenue.
Read MoreUN draft sets Article 6.4 first transfer, real-time reporting rules
The UNFCCC’s latest draft procedure for the Article 6.4 mechanism registry sets out requirements for real-time public reporting of registry activity, detailed first-transfer rules, and proposed account fees for the Paris Agreement Crediting Mechanism (PACM).
Read MoreFarm-level GHG accounting methods need urgent harmonisation efforts, study says
Farm‑level greenhouse gas accounting methods remain fragmented and require urgent harmonisation efforts, with estimates for the same farm varying by more than 1,000%, a study said.
Read MoreGhana approaches J-REDD+ issuance
Ghana is close to issuing forest carbon credits under its large-scale forest conservation programme, a minister announced in London this week.
Read MoreGlobal seagrass sediment stores 650 mln tCO2, according to satellite map
An American research team has found that roughly 650 million tonnes of carbon were stored in the top layers of seagrass sediment between 2019-20 as part of the construction of a global blue carbon map.
Read More