UPDATE – US-backed coalition aims to raise $1 bln for jurisdictional REDD payments
The US, UK, and Norway launched a coalition on Thursday with to raise $1 billion in private capital for jurisdictions that reduce deforestation emissions under the Architecture for REDD+ Transaction’s (ART) programme.
Read MoreLeaders Summit on Climate: US hikes Paris climate goal as other nations strengthen emissions targets
US President Joe Biden raised the country’s emissions reduction target on Thursday at the White House-convened Leaders Summit on Climate, as other nations including Japan and Canada increased their own Paris Agreement pledges to the 2015 UN pact.
Read MoreJapan’s Sumitomo, US ag firm team up on soil carbon
Trading firm Sumitomo Corp. and Boston-based Indigo Ag have agreed to explore a wide range of business opportunities related to generating carbon credits from agricultural technology and soil carbon projects in Japan and Asia.
Read MoreUN launches $70 trillion alliance to standardise net zero commitments around science-based targets
UN climate envoy Mark Carney and a dozen government and financial leaders on Wednesday unveiled an alliance to coordinate standards and practices for net zero commitments worldwide in the lead-up this fall’s COP26 climate summit.
Read MoreNearly half of world’s major companies use internal carbon pricing -survey
Some 226 of the world’s 500 biggest companies utilise internal carbon pricing, an 80% rise over the past five years, according to a survey published on Wednesday.
Read MoreAustralia announces CCS, hydrogen funding ahead of climate summit
Australia on Wednesday announced A$540 million ($417 mln) in new funding for CCS and hydrogen technology, a move observers say likely means the government will make no new GHG target commitments at this week’s global climate summit.
Read MoreSK Market: KAUs claw back lost ground as new demand enters market
South Korean emissions allowances notched a fifth consecutive session of gains Wednesday, as the temporary price floor and fresh demand pushed prices to a two-week high.
Read MoreANALYSIS: Peruvian dispute over REDD reference levels presages global offset supply uncertainty
Three indigenous organisations and nine REDD offset project developers have challenged Peru’s new forest emissions reference level (FREL), which they say reflects the preferences of donor nations and not realities on the ground in low-deforestation countries.
Read MoreNew Zealand consults on major changes to ETS price control levels
New Zealand’s environment ministry on Tuesday launched its annual consultation on settings in its emissions trading scheme, and included proposals from the independent Climate Change Commission (CCC) that would see major increases in the price floor and ceiling at NZU auctions.
Read MoreOffset developers, registries must bring higher-integrity protocols to market -report
Voluntary carbon market (VCM) participants and registries need to quickly scale-up high integrity offset protocols amid rising corporate demand, while also making tweaks to existing protocols to account for inadequacies, according to a white paper published Monday.
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