Global shipping’s R&D fund seen getting top billing over carbon pricing at UN talks
The UN’s International Maritime Organisation’s (IMO) will in the coming days attempt to advance negotiations around an industry-led proposal for a small fuel levy to finance shipping R&D, with observers expecting this effort to eclipse discussions on global carbon pricing measures for the sector.
Read MoreECOSYSTEM MARKETPLACE – Shades of REDD+: Corresponding Adjustments, Equity, and Climate Justice
The increasing commoditization of carbon markets makes us forget that behind these board room discussions, there is a real-world problem out there with the plight of real people at stake. While being an invention of the global north, carbon markets came with a great promise for us here in the South. The idea of backing voluntary claims with corresponding adjustments puts this promise at grave risk, writes Sandeep Roy Choudhury – Co-Founder of VNV Advisory Services, Co-Chair of the International Carbon Reduction and Offset Alliance (ICROA), and Director at the Carbon Initiative Forum.
Read MoreAustralian offsets break price record as longer-term demand firms
Australian Carbon Credit Units (ACCUs) traded at A$19 ($14.69) in the spot market for the first time on Thursday as future compliance risk is supporting demand for the domestic units despite access to much cheaper international options.
Read MoreShell to “accelerate” energy transition after court ruling, says CEO
Shell will “accelerate” its energy transition strategy and will likely take “some bold but measured steps” in the coming years to reduce emissions, its CEO said on Wednesday, after a Dutch court ruling ordered the oil major to substantially cut greenhouse gases by the end of the decade.
Read MoreImpact fund takes majority stake in Australian offset developer
Melbourne-based Tiverton Agriculture Impact Fund has taken a majority stake in an Australian offset developer and carbon advisory firm.
Read MoreNZ Market: NZUs soar to fresh highs as climate commission doubles down on higher auction price settings
New Zealand carbon allowances soared past NZ$40 ($28.81) to new record high levels on Wednesday, following the release of the independent Climate Change Commission’s final advice to the government on the country’s carbon budgets out to 2035.
Read MoreINTERVIEW: Offset venture Vertree targets big emitters for scale-up of voluntary carbon market
Newly-formed carbon credit provider Vertree is targeting a major push towards providing carbon offsets for harder-to-abate sectors, betting these heavy industries won’t be able to cut their emissions at a politically acceptable cost.
Read MoreAustralia Market Roundup: Voluntary CER cancellations top 3.2 mln in May, as govt funds first DAC demonstration project
Australian companies retired a record 3.2 million CERs last month as the voluntary carbon market boom continues to primarily benefit international projects, while the government on Tuesday announced a funding package for CCS projects that included the nation’s first direct air capture (DAC) scheme.
Read MoreAustralia’s Woodside sets net zero target for major LNG project
Woodside Energy has set a 2050 net zero target and interim goals by 2025 and 2030 for its Pluto LNG project in Western Australia, which it will meet through technology investments and carbon offsets, the company said Tuesday.
Read MoreVCM Report: CORSIA-eligible offsets match record highs
Voluntary emissions reductions (VERs) eligible for the international aviation offset system CORSIA reached record highs this week, as traders maintained that a months-long trend of demand outpacing supply was providing support in the voluntary carbon market (VCM).
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