“We’re adjusting the speed a bit”: Oil majors say they’re sticking to net zero course
The oil and gas industry is sticking to its promises of decarbonisation, but having to adjust its pathway as it runs into complications ranging from high costs of renewables, access to projects and grids, to the slow development of carbon capture, executives said on Tuesday.
Read MoreGreen Climate Fund board approves over $680 mln for 11 projects globally
The board of the Green Climate Fund (GCF) this week approved some $687 million for investment in 11 projects across 42 countries that are expected to mitigate 45.3 million tonnes of CO2e, it said Friday.
Read MoreIntegrating NbS across all support programmes “only way” to scale projects in Sub-Saharan Africa, says World Bank
The most effective strategy to scale up nature-based solutions (NbS) in urban areas of Sub-Saharan Africa will be the mainstreaming of projects into all the World Bank’s support programmes, according to an official, speaking at a conference in Nairobi on Wednesday.
Read MoreINTERVIEW: How to make carbon pricing multilateral, step by step
Multilateral carbon pricing schemes can be more effective in tackling carbon leakage and ensuring fair trade than unilateral measures — but they need to be phased in slowly, starting with common standards for pricing and reporting, according to an expert at the World Economic Forum (WEF).
Read MoreVoluntary biodiversity credit sales hit $5.6 mln, report estimates
Sales of voluntary biodiversity credits have hit almost $5.6 million globally, with Oceanian projects dominating the transactions, according to analysts.
Read MoreINTERVIEW: Nigeria project expects to generate up to 6 Mt worth of Paris-aligned carbon credits per year
A new entity is being launched to spearhead a project in Nigeria aiming to generate 5-6 million tonnes of carbon removal and avoidance credits related to mangroves and seagrass restoration, with government assurance given that credits can be aligned with Article 6 of the Paris Agreement and traded internationally.
Read MoreStandards-setter approves dMRV pilots in effort to boost verification
A carbon standards-setter has approved three new digital monitoring, reporting, and verification (dMRV) pilot projects aimed at enhancing transparency, efficiency, and access to climate finance in its projects, it announced on Tuesday.
Read MoreKenya needs stronger policies to overcome barriers to carbon trading -report
There are still “significant barriers” to effective carbon trading taking place in Kenya, with stronger market policy required, a new report has found.
Read MoreTanzania passes law to bolster carbon credit market, boost climate finance
Tanzania’s parliament has passed a law aimed at bolstering the country’s carbon credit market, seeking to increase revenue from carbon trading while addressing climate financing challenges.
Read MoreKenya grassland project may receive carbon credit issuances, despite uncertain future
The owners of the world’s largest soil carbon project could still receive carbon credits, despite its future hanging in the balance, with no action yet taken by standard-setter Verra to prevent issuance.
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