COP28: Gore highlights shortfalls in methane pledge, urges use of global inventory to monitor progress

Published 12:44 on December 3, 2023  /  Last updated at 13:03 on December 3, 2023  / Bryony Collins /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International, US, Voluntary

Al Gore emphasised the importance of Saturday’s methane pledge by almost 50 oil and gas companies to work towards near zero methane emissions, while highlighting glaring gaps in the announcement due to the absence of some of the world’s highest emitting companies and countries, during a plenary session at COP28.

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COP28: Voluntary carbon coalition to spin out forestry standard in early 2024, launch first REDD+ credits by 2025

Published 11:27 on December 3, 2023  /  Last updated at 12:57 on December 3, 2023  / Allison Gacad /  Africa, Americas, Climate Talks, EMEA, International, Nature-based, South & Central, Voluntary

Brazil and the Democratic Republic of Congo (DRC) are likely to host pilot projects generating REDD+ credits under a new standard, established by three voluntary forest carbon stakeholders, as early as 2024, as ministers and Indigenous Peoples from the two countries pledged their support at COP28 on Sunday.

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COP28: US Energy Transition Accelerator to launch in April, mobilise $200 bln in carbon credit finance by 2035

Published 10:39 on December 3, 2023  /  Last updated at 12:52 on December 3, 2023  / Graham Gibson /  Americas, Asia Pacific, Climate Talks, EMEA, International, Nature-based, US, Voluntary

The Energy Transition Accelerator (ETA), a coalition of carbon credit buyers and sellers, will launch next year to provide revenue to support developing countries on their road to a clean energy transition, as an accompanying core framework and initial pilot countries were also announced at COP28 Sunday.

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COP28: Roundup for Day 4 – Dec. 3

Published 07:13 on December 3, 2023  /  Last updated at 13:22 on December 3, 2023  / Roy Manuell /  Africa, Americas, Asia Pacific, Aviation/CORSIA, Carbon Taxes, CBAM, China, Climate Talks, EMEA, International, Kyoto Mechanisms, Middle East, Nature-based, Other APAC, Paris Article 6, Shipping, US, Voluntary

It’s Day 4 of COP28 and the focus begins to move away from world leaders, after a busy few days filled with international pledges, towards the nitty gritty of negotiations in Dubai. The devil, as they say, will be in the details in terms of progress on the global stocktake, as well as on carbon markets. Oh, and today is the first ever Health Day at a UNFCCC COP.  In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (Gulf Standard Time, GMT+4).

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COP28: Philanthropic funding needed to build capacity for high-integrity carbon markets, says report

Published 05:00 on December 3, 2023  /  Last updated at 16:55 on December 2, 2023  / Alejandra Padin-Dujon /  Americas, Asia Pacific, Climate Talks, EMEA, International, Nature-based, Paris Article 6, Voluntary

Philanthropic funding will be needed to address capacity gaps in low- and middle-income countries and facilitate high-integrity carbon markets, according to a report released Sunday.

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COP28: Dominica signs MoU with UAE-based carbon credit project developer

Published 01:28 on December 3, 2023  /  Last updated at 05:30 on December 3, 2023  / Alejandra Padin-Dujon /  Americas, Climate Talks, EMEA, International, Middle East, Nature-based, Paris Article 6, South & Central

The Caribbean island of Dominica has signed a Memorandum of Understanding (MoU) with UAE-based carbon credit project developer and buyer Blue Carbon at COP28 in Dubai, focusing on mitigation and carbon removal initiatives across several sectors.

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COP28: Nations pledge hundreds of millions towards forestry plans for international carbon markets

Published 21:33 on December 2, 2023  /  Last updated at 21:35 on December 2, 2023  / Roy Manuell /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, Voluntary

Governments, private sector, and philanthropic initiatives have so far announced partnerships and funding pledges in the hundreds of millions of dollars for rainforest protection and restoration in multiple nations, specifically involving mobilising finance from international carbon markets and credit sales.

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COP28: UN, UAE, Bloomberg launch Industrial Transition Accelerator to decarbonise heavy emitters

Published 16:12 on December 2, 2023  /  Last updated at 17:06 on December 2, 2023  / Nikita Pandey /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International, Paris Article 6, Voluntary

The UN, UAE, and Bloomberg Philanthropies launched the Industrial Transition Accelerator initiative on Saturday, pledging $30 million to scale up decarbonisation of heavy-emitting industries.

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COP28: Verra to issue “very shortly” Article 6-aligned carbon credits, launch next version of VCS in 2025

Published 16:01 on December 2, 2023  /  Last updated at 08:04 on December 3, 2023  / Bryony Collins /  Africa, Americas, Climate Talks, International, Kyoto Mechanisms, Nature-based, Paris Article 6, US, Voluntary

Verra is set to soon issue its first carbon credits aligned with Article 6 of the Paris Agreement from projects in Africa, and also expects to launch its Verified Carbon Standard Version 5.0 in 2025, a senior member of the standards body told a panel at a COP28 side event.

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COP28: US pledges another $3 bln to Green Climate Fund, won’t honour $1 bln of previous commitment

Published 14:26 on December 2, 2023  /  Last updated at 14:39 on December 2, 2023  /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International, Other APAC, South & Central, US

The US is pledging a further $3 billion to the UN’s Green Climate Fund (GCF), Vice President Kamala Harris announced at the COP28 climate summit in Dubai on Saturday.

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