European financiers provided €64 bln to critical mineral extraction despite environmental risks -report
European financial institutions ringfenced €64 billion between 2016-24 to support firms extracting critical raw materials despite alleged links to environmental and human rights violations, according to a new report.
Read MoreCOP30: Potential buyers bolster Argentina’s bid to access CORSIA through political turmoil
Provincial government proponents of the flagship Argentinian jurisdictional forestry initiative, structured under Verra’s Jurisdictional and Nested REDD+ (JNR) framework, remain optimistic about receiving a Letter of Authorisation (LoA) to issue credits eligible for CORSIA due to support from potential buyers.
Read MoreCOP30: Article 6.8 “held hostage” to gain PACM concessions -observer
An Article 6.8 text on ‘non-market approaches’ will be punted from a technical body to negotiators – “held hostage” by the same countries seeking to codify nature-based solutions (NbS) within the Paris Agreement Crediting Mechanism (PACM), an observer told Carbon Pulse.
Read MoreCOP30: Developer reports oversubscription for eligible credits as compliance drives demand
Demand for carbon credits that qualify under emerging compliance schemes is outpacing limited supply, putting pressure on the voluntary market as countries ramp up Paris Agreement Article 6 activity, according to a project developer.
Read MoreOil and gas companies call for overhaul of carbon market rules
Some of the world’s largest oil and gas producers are urging major reforms to the voluntary carbon market, arguing that the use of “high-quality” credits is now essential for meeting global climate goals and should be used more widely and flexibly by companies.
Read MoreCOP30: Roundup for Day 6 – Nov. 15
Day 6 at COP30 in Belem. The summit is edging towards clarity on the negotiations side as talks hit half-time. Plenaries and press conferences across the day are expected to provide detail on what exactly Brazil wants to achieve over these two weeks, with finance and transition away from fossil fuels among the priority topics being discussed in closed-door meetings between the presidency and parties.
Read MoreCOP30: Multilateral banks publish guidelines on assessing nature metrics
A coalition of multilateral development banks (MDBs) published a new guidance for companies’ assessment of biodiversity metrics, they announced on Friday, adding momentum to global efforts to standardise nature-related measurement and bolster demand in emerging biodiversity credit markets.
Read MoreCOP30: INTERVIEW – WRI launches fund to strengthen restoration value chain in the Amazon
The World Resources Institute (WRI) launched on Friday, during COP30 in Belem, a new fund that aims to structure the value chain for restoration and incentivize assisted natural regeneration in Brazil.
Read MoreGlobal natural forest map offers baseline for EUDR checks
Researchers have produced an AI-powered global 2020 natural forest map, offering a consistent probabilistic baseline that can be applied directly to monitoring needs under the EU Deforestation Regulation (EUDR) and other conservation frameworks, the authors said.
Read MoreCOP30: FEATURE – Poor accountability in Article 6.2 reporting hurts market robustness, experts say
A lack of penalties or public accountability for Article 6.2 reporting flagged by the UNFCCC for inconsistencies compromises market integrity and is unlikely to be rectified anytime soon, sources close to COP30 negotiations have told Carbon Pulse.
Read More