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UPDATE – US-backed coalition aims to raise $1 bln for jurisdictional REDD payments

Published 15:59 on April 22, 2021  /  Last updated at 20:22 on April 22, 2021  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, EMEA, International, Japan, Mexico, Middle East, New Zealand, REDD, South & Central, South Korea, Switzerland, US, Voluntary Market  /  No Comments

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. 

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Leaders Summit on Climate: US hikes Paris climate goal as other nations strengthen emissions targets

Published 11:38 on April 22, 2021  /  Last updated at 19:05 on April 22, 2021  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, Carbon Taxes, CBAM, China, Climate Talks, EMEA, EU ETS, International, Japan, Kyoto Mechanisms, Mexico, Middle East, New Market Mechanisms, New Zealand, Other APAC, REDD, Shipping, South & Central, South Korea, Switzerland, UK ETS, US, Voluntary Market  /  No Comments

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.

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Japan’s Sumitomo, US ag firm team up on soil carbon

Published 08:18 on April 22, 2021  /  Last updated at 09:02 on April 22, 2021  /  Americas, Asia Pacific, Bavardage, International, Japan, Other APAC, US, Voluntary Market  /  No Comments

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.

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UN launches $70 trillion alliance to standardise net zero commitments around science-based targets

Published 22:33 on April 21, 2021  /  Last updated at 22:34 on April 21, 2021  /  Africa, Americas, Asia Pacific, Australia, Canada, China, Climate Talks, EMEA, International, Japan, New Zealand, South & Central, South Korea, Switzerland, US  /  No Comments

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. 

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Nearly half of world’s major companies use internal carbon pricing -survey

Published 18:39 on April 21, 2021  /  Last updated at 18:39 on April 21, 2021  /  Americas, Asia Pacific, EMEA, International, Voluntary Market  /  No Comments

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.

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Australia announces CCS, hydrogen funding ahead of climate summit

Published 08:52 on April 21, 2021  /  Last updated at 08:52 on April 21, 2021  /  Asia Pacific, Australia  /  No Comments

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.

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SK Market: KAUs claw back lost ground as new demand enters market

Published 08:23 on April 21, 2021  /  Last updated at 08:23 on April 21, 2021  /  Asia Pacific, South Korea  /  No Comments

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.

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ANALYSIS: Peruvian dispute over REDD reference levels presages global offset supply uncertainty

Published 01:35 on April 21, 2021  /  Last updated at 16:36 on April 21, 2021  /  Africa, Americas, Asia Pacific, Canada, China, Climate Talks, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  3 Comments

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.

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New Zealand consults on major changes to ETS price control levels

Published 11:19 on April 20, 2021  /  Last updated at 11:23 on April 20, 2021  /  Asia Pacific, New Zealand  /  No Comments

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.

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Offset developers, registries must bring higher-integrity protocols to market -report

Published 23:36 on April 19, 2021  /  Last updated at 23:36 on April 19, 2021  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, Canada, EMEA, International, REDD, Shipping, South & Central, US, Voluntary Market  /  No Comments

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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