COP30: INTERVIEW – PACM now “real”, but questions remain over financial viability of supply, says project developer
The new Paris Agreement Crediting Mechanism (PACM) is no longer just a theoretical part of Article 6 markets, according to an executive at a major project developer, but it will take time to fully assess the investment viability of different types of activities.
Read MoreLarge meat companies overexposed to natural disasters, report says
Livestock giants are overexposed to natural disaster risks due to having limited suppliers of animal feed, a report by an investor network said on Monday.
Read MoreUN opens consultation on savanna fire management methodology under PACM
The UN has opened public consultation on the first global methodology for savanna fire management (SFM) under Article 6.4 of the Paris Agreement.
Read MoreRevised Guyana forest baselines show lower emissions, less removals after UN assessment
Guyana has sharply revised its national forest reference levels following a UN technical assessment that prompted extensive methodological corrections, reducing the country’s headline figures by more than half and significantly altering the treatment of both emissions and removals across multiple REDD+ activities.
Read MoreCOP30: Countries welcome Brazil’s pledge to create fossil fuel, deforestation roadmaps, but questions remain about how it will work
Countries and civil society welcomed the Brazilian presidency’s pledge to establish two roadmaps on transitioning away from fossil fuels and ending deforestation, even as several have described it only as a consolation prize after a reference to the two issues failed to make it into the main COP30 decisions.
Read MoreCOP30: FEATURE – Brazil’s coalition could shape systems amid global carbon market growth, experts say
Brazil’s international coalition could be uniquely positioned to facilitate mutual recognition of credits and knowledge exchange between countries amid a global explosion of carbon pricing systems – if certain steps are taken, experts said during COP30 in Belem.
Read MoreCOP30: Nine nations to coordinate planting 1 bln trees in a day
As the world lags behind 2030 restoration targets, nine governments announced a new coalition which will coordinate planting 1 billion native trees on World Environment Day.
Read MoreCOP30: Reaction as governments, civil society celebrate incremental progress but criticise finance as gavel comes down in Belem
As the Brazilian presidency on Saturday gavelled through a Mutirao text and several negotiated decisions, officials and civil society offered mixed reactions – generally supporting COP30 policy advances and the spirit of multilateralism, while alternately welcoming or decrying efforts to secure climate finance.
Read MoreCOP30: Fossil fuels out, adaptation in after “stormy” politics leave a mixed Belem bag
Countries failed to strengthen international efforts to drive an energy transition after two fraught weeks of COP30 negotiations, beyond doubling down on an existing 2023 pledge, agreeing to speed up decarbonisation targets, and reaffirming last year’s goal to boost climate finance.
Read MoreCOP30: Roundup for Day 12 – Nov. 22
Day 12 at COP30 in Belem. The final day, as most expect, with Brazil frantically organising huddles throughout the night to push forward on the Belem Package deal. Meanwhile, possible ‘quorum’, whereby not enough parties are present to seal a deal, was also looming over negotiations, leaving the presidency to scramble to achieve consensus with time fast running out.
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