A climate finance quantum leap is essential and achievable, UN’s climate boss says
The world’s major economies and multilateral development banks must lead the way in redirecting trillions of public and private funds towards climate action in the countries that most need it, the head of the UN’s climate unit said on Wednesday.
Read MoreANALYSIS: Voluntary carbon stakeholders react to SBTi pivot on offset use for corporate targets
A major announcement from the Science Based Targets initiative (SBTi) that now opens the door for offset use as part of validated corporate net zero targets has made waves in the voluntary carbon sector, with proponents of the decision lauding its demand implications for the market, and critics arguing that the move undermines the organisation’s role in the broader fight against climate change.
Read MoreFEATURE: Italy’s close ties to fossil fuel producer Eni jeopardise the country’s status as a climate leader
The Italian government’s close relationship with partly state-owned fossil fuel producer Eni complicates Italy’s plan to become carbon neutral by 2050 and threatens its reputation as a credible climate leader.
Read MoreGlobal carbon emissions trading revenues rise 17% to record $74 bln in 2023 -report
A total of more than $74 billion was raised from 36 carbon emissions trading systems last year, up from $63 bln the year before, with strong momentum building for new mechanisms in emerging economies, according to research published Wednesday.
Read MoreEXCLUSIVE: Cookstove project developers poke holes in study alleging rife over-crediting
A consortium of offset developers is hitting back at a recent analysis alleging pervasive over-crediting by cookstove projects within the voluntary carbon market (VCM), pointing to what it calls doubts about the study’s reliability, in an open letter seen exclusively by Carbon Pulse.
Read MoreSBTi poised to validate voluntary carbon credit use for corporate Scope 3 emissions goals
The Science Based Targets initiative (SBTi) has decided that voluntary carbon credits may be used to offset corporate Scope 3 emissions, the body said Tuesday, it what should provide a significant boost for offset demand.
Read MoreFEATURE: Voluntary carbon projects still need sifting despite ICVCM stamp of approval
Work by the Integrity Council for Voluntary Carbon Markets (ICVCM) to label credits with the Core Carbon Principles (CCP) stamp will only go so far in determining the quality of supply, as project-level assessments will still be required to help buyers identify good projects, say market stakeholders.
Read MoreCarbon project developer secures authorisation from Tanzania for first Article 6 credits
The Tanzanian government has issued a letter of authorisation (LOA) to a carbon project developer, meaning credits generated from its cookstove activities in the country can apply corresponding adjustments when sold on the international market.
Read MoreCanadian project financier receives first correspondingly-adjusted, Article 6 authorised carbon credits from Verra
A Toronto-headquartered carbon project financier announced Monday that it has received the first-ever correspondingly-adjusted and Article 6 authorised credits from standards body Verra.
Read MoreVCM Report: ICE CORSIA voluntary carbon futures strengthen further on thin trade as sources point to ‘panic’ buying
ICE’s CORSIA Phase 1-eligible (2024-26) voluntary carbon futures extended gains to reach a fresh record last week, on very low volume, with the price strength coming off the back of ‘panic’ buying given the supply uncertain outlook, according to sources.
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