First PACM carbon credits still face quality risks despite tougher accounting rules, says rating agency
The first carbon credits approved for issuance under the Paris Agreement Crediting Mechanism (PACM) show that the UN’s new system is improving the quality of legacy Clean Development Mechanism (CDM) projects through more conservative carbon accounting, but significant project-level risks remain, according to a new analysis.
Read MoreMalawi eyes carbon markets to help fund its third climate plan
Malawi has highlighted carbon markets as one of the financing mechanisms it intends to use to implement a more ambitious third Nationally Determined Contribution (NDC), as the climate-vulnerable African nation seeks to bring in greater domestic and international support for emissions reductions.
Read MoreTripling global nuclear capacity by 2050 will require major investment and policy overhaul, says OECD
Tripling global nuclear power capacity by 2050 will require a dramatic expansion of financing, skilled workers, manufacturing capacity, and government support, according to a new report published by the OECD’s specialist nuclear energy agency (NEA).
Read MoreGreen Climate Fund approves projects set to remove nearly 20 mln tonnes of CO2
The Green Climate Fund (GCF) on Thursday approved at least four projects spanning Southeast Asia, the Pacific, Africa, and South Asia that are expected to collectively deliver almost 19.4 million tonnes of CO2e in emissions reductions or removals, while channelling more than $311 mln into climate-resilient agriculture and forest restoration.
Read MoreCarbon fund pulls support from African nature carbon project over viability concerns
A major African nature-based carbon project will lose backing from its lead fund after failing to secure validation and generate credits since its 2022 launch, the investor said Wednesday.
Read MoreNew SBTi standard could triple voluntary carbon market demand even under minimum engagement, analysis says
The revised corporate net zero standard from the Science Based Targets initiative (SBTi) could substantially increase demand for voluntary carbon credits over the coming decade, though actual growth is likely to depend on whether companies raise internal carbon prices and voluntarily increase credit purchases ahead of 2035, according to new analysis.
Read MoreAirlines must set stronger climate goals as current voluntary targets fall short, experts say
Airlines need to set more stringent near-term emissions reduction pathways and provide greater transparency on their transition plans under the voluntary Science Based Targets initiative (SBTi) in order to close the sector’s emissions gap, according to an academic report.
Read MoreGerman carbon platform launches search for 520k nature-based removal credits in long-term corporate procurement
A Berlin-based nature-based solutions platform has launched a request for information (RFI) to source up to 520,000 high-quality nature-based carbon removal credits on behalf of an unnamed German enterprise, underscoring continued corporate demand for long-term, high-integrity removals despite broader weakness in voluntary carbon markets.
Read MoreEU to exempt palm oil for drugs, soy seeds from anti-deforestation law
The European Union plans to leave palm oil derivatives used in medicines and soybeans for sowing from its deforestation regulation, the EUDR, according to a draft negotiating position seen by Bloomberg.
Read MoreArticle 6 expert panel recommends two new methodologies for PACM crediting
Technical experts overseeing the Paris Agreement Crediting Mechanism (PACM) have recommended two draft methodologies for approval by the scheme’s Supervisory Body, while opening fresh consultations on key implementation tools.
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