Further reforms needed for voluntary carbon markets to help outcome-based finance model hit climate, sustainability goals
Voluntary carbon markets can help mobilise private capital to address climate funding gaps in high-impact sectors, but systemic issues need to urgently be addressed for those markets and the wider outcome-based finance model to realise their full potential, according to a new report.
Read MoreRepublican states, oil major petition SCOTUS in fossil fuel lawsuits
A group of Republican-led states and a global oil major continued their fight against separate lawsuits looking to hold fossil fuel companies financially liable for the effects of climate change in briefs submitted in December to the US Supreme Court (SCOTUS).
Read MoreWCI Markets: CCA, WCA activity thins through holidays
Secondary market California Carbon Allowances (CCA) and Washington Carbon Allowances (WCA) futures and options transaction volumes declined over the Christmas and New Year holidays, with traders expecting activity to pick up early next week.
Read MoreAccounting standards board proposes unified US rules for carbon offsets, credits
The Financial Accounting Standards Board (FASB) launched a 90-day public comment process for proposed updates to its unified accounting standards for environmental credits, including carbon offsets.
Read MoreCalifornia CCS project developer receives state’s first permits for CO2 storage
A subsidiary of a California oil and gas company received the state’s first permits authorising CO2 storage on Tuesday from the EPA, enabling the developer to move forward with construction of its carbon capture and sequestration (CCS) project, despite an outstanding legal challenge from environmental groups.
Read MoreCalifornia’s voluntary carbon market disclosures compliance kicks in
As of Jan. 1, companies operating within California must disclose their voluntary carbon market participation and net-zero emissions claims online based on state law.
Read MoreCalifornia expected to miss 200 hydrogen fuelling stations by 2025 target – gov’t report
California agency ARB reported that the state’s hydrogen fuelling network struggles with slow development due to compounding challenges across the supply chain, weighing on market uptake of zero-emission vehicles (ZEVs).
Read MoreFunding gaps, North-South spat jeopardise Global Biodiversity Framework implementation -study
Divergences between developed and developing countries, along with massive funding gaps, pose serious threats to the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF), a study published Tuesday said.
Read MoreeDNA key to improving biodiversity monitoring within forest carbon markets, study says
Forest carbon markets should rely on new technologies such as environmental DNA (eDNA) to improve biodiversity monitoring, as over half of the existing projects risk overlooking co-benefits for nature, according to a paper.
Read MoreIETA sets out way forward to scale biodiversity credit markets
The International Emissions Trading Association (IETA) has released analysis on the nascent biodiversity credit market, identifying integrity and the role played by governments to be among key elements driving demand.
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