COP30: New PACM text requests revision to baseline crediting methodology, CDM transition extension
A draft decision text on Article 6.4, published Friday at COP30, contains provisions that would see parties reopen a baseline standard for crediting Paris Agreement Crediting Mechanism (PACM) activities to avoid discouraging nature-based carbon project development, which negotiators and observers expect to now be heavily contested as talks heat up in Belem.
Read MoreLatest CORSIA auction sees 1 mln Guyanese REDD credits bought for $22.55/tonne
Airlines have scooped up 1 million Guyanese REDD credits at a fixed price of $22.55/tonne in the IATA-backed CORSIA auction that ran between Aug. 18 and Oct. 3.
Read MoreINTERVIEW: Carbon scientist tackles common monoculture misconceptions
Reforestation projects planting numerous, native species in the correct order will hold more carbon than monocultures in the long term and bounce back better after disturbances, according to a scientist at an international forestry company.
Read MoreCOP30: Roundup for Day 5 – Nov. 14
Day 5 at COP30 in Belem. Nature and carbon are firmly on Friday’s agenda across side events at the summit, and negotiators on Article 6 were also said to have enjoyed calmer talks on Thursday, though after a new text on crediting Paris projects landed overnight, it now seems reopening adopted work on the new crediting mechanism may be back on the table at the conference.
Read MoreCOP30: Forestry companies identify key ecosystem services for unified nature valuation framework
A coalition of forestry companies has advanced its efforts to create a unified approach for valuing nature, identifying a specific set of ecosystem services that will be prioritised under this initiative.
Read MoreCOP30: Government pledges of more than 1 bln ha for removals ‘unsustainable’ -report
Governments are prioritising large-scale tree plantings for carbon removals at the expense of preserving forests and halting deforestation, a report warned – with more than 1 billion hectares pledged for removals.
Read MoreCOP30: WWF unveils investment model to scale nature finance
WWF has developed an investment model that it claims could help unlock up to $20 billion in nature financing by 2030, it announced on Friday on the sidelines of the COP30 UN climate summit.
Read MoreCOP30: Countries reluctant to reopen Article 6 texts despite early summit drama on carbon removal permanence
Parties are not expected to reopen adopted texts governing the Paris Agreement Crediting Mechanism (PACM), despite strong interventions in talks earlier this week at COP30 made by countries raising concerns with a permanence standard affecting new Article 6 carbon projects.
Read MoreCOP30: BRIEFING – Marine carbon removal company targets commercialisation, but experts warn it’s a premature sector
As a marine CO2 removal (mCDR) company scopes out sites to capture up to 50,000 tonnes of CO2 per year, experts on the sidelines of COP30 emphasised the gaps in science and governance of the sector at large.
Read MoreCOP30: BRIEFING – Uncertainty dominates forest fund talks, with eyes on Germany, China, MDBs to keep momentum
The Brazilian-led tropical forest fund has been clouded by uncertainty at COP30, despite receiving over $5 billion in pledges upon its launch ahead of the annual UN climate summit, with hopes now pinned on Germany, China, and multilateral development banks (MDBs) to keep the flagship initiative moving forward.
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