Ethiopia drafts bill to include banking sector in carbon markets -local media
Ethiopia’s legislature is reviewing a draft Carbon Market Proclamation that would permit local commercial banks and financial institutions to participate directly in carbon trading, local daily Ethiopia Today reported.
Read MoreLCAW26: UN ramps up pressure on high methane-emitting sectors
The UN is launching a new push to tackle methane emissions, putting pressure on the sectors most responsible for the potent greenhouse gas – fossil fuels, waste, and agriculture, Secretary-General Antonio Guterres announced in London on Tuesday.
Read MoreBloomberg Philanthropies pledges $260 mln to ocean protection
Bloomberg Philanthropies has allocated $260 million to expand ocean conservation worldwide, including in the high seas.
Read MoreLCAW26: BRIEFING – AI surges to top concern in efforts to stem climate change
AI is the new bugbear for efforts to tackle climate change, fuelling concerns about its surging demand for energy, water, and land – despite the potential benefits it can bring, according to experts.
Read MoreUK forestry firm launches $115-mln Ghana reforestation fund
A UK‑based forestry company has announced the launch of a $115‑million Alternative Investment Fund (AIF) to finance large‑scale commercial hardwood plantations in Ghana’s Afram Headwaters Forest Reserve.
Read MoreClimate finance won’t meet minimum needs until 2030s as growth rate slows, report warns
Global climate finance flows neared $2.1 trillion last year, but will not meet minimum requirements for mitigation until “well into” the 2030s, as the annual rate of acceleration has dropped significantly, a report warned on Tuesday.
Read MoreLCAW26: Government coalition to publish carbon credit policy playbook at COP31
A government-led coalition of 11 countries plans to publish a non-binding policy playbook at COP31 to guide national measures aimed at increasing demand for high-integrity carbon credits, it announced Tuesday.
Read MoreVCM REPORT: CORSIA futures fall to fresh 2-year lows, wider credit demand shows strong signs amid focus on quality
CORSIA futures sank to fresh two-year lows last week, with benchmark contracts slipping further below $10/tonne as uncertain sentiment over demand continued, while there were some positive signals in terms of retirements in the wider voluntary carbon market (VCM) amid an ongoing refocusing on quality.
Read MoreLCAW26: Nature-based carbon projects face catch 22, report says
Project developers working on nature-based carbon are trapped within a structural catch 22 whereby an offtake is necessary to receive investment, but funding is required to secure an offtake, according to a report launched at London Climate Action Week (LCAW) on Monday.
Read MoreLCAW26: Asset manager hits back at Verra CEO’s claim standardisation would grow biodiversity credit market
An asset manager focused on tropical forest protection pushed back against Verra at London Climate Action Week (LCAW) on Monday, disputing the crediting standard’s claims that the emerging biodiversity credit market needs greater standardisation to grow.
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