Carbon markets face “mission creep” as COP32 implementation clock ticks
Carbon markets risk failing to reach their true potential because governments and industry groups have overloaded them with ideological and regulatory demands, said experts on Friday, warning that “mission creep” was undermining efforts to mobilise climate finance.
Read MoreSouth Korea kickstarts tech development project for soil carbon sequestration
South Korea has kicked off a national technology development project for soil carbon sequestration, with an initial focus on biochar and enhanced rock weathering (ERW) solutions.
Read MoreINTERVIEW: Asia’s emerging compliance markets should focus less on perfect design, more on getting started
Emerging emissions trading systems (ETSs) in Asia should not be judged too harshly if they struggle with low prices, weak liquidity, or technical glitches in their early years, according to an expert, who argued that even the world’s most established carbon markets evolved through repeated policy mistakes and reforms.
Read MoreTwo project developers awarded Singapore EDB grant for expansion
Two carbon project developers have been awarded support from Singapore’s Economic Development Board (EDB) through its Carbon Project Development Grant, they announced separately.
Read MoreINTERVIEW: Myanmar eyes carbon tax, looks to submit new NDC by year-end
Myanmar is designing its first carbon tax, focusing on the energy, agriculture, and steel sectors, and is looking to submit its updated Nationally Determined Contribution (NDC) by year-end, a Yangon-based VCM platform told Carbon Pulse.
Read MoreIndonesia plans blockchain integration for carbon exchange in bid to spur market growth
Indonesia’s financial regulator has unveiled plans to revise the country’s carbon exchange regulations to boost market growth and transparency with plans to adopt blockchain-based technology and integrating further with the national carbon registry system.
Read MoreBASIC countries’ snub of CORSIA could slash effectiveness by a quarter, study warns
A growing standoff between major emerging economies and the UN aviation offsetting mechanism CORSIA could slash the scheme’s effectiveness by almost a quarter during its upcoming ‘mandatory’ phase, according to a new academic paper that warns equity concerns are threatening the future of the market.
Read MoreAustralia, Turkiye outline climate finance efforts in partnership through first COP31 joint presidency letter
Turkish COP31 President Designate Murat Kurum and Australian COP31 President of Negotiations Chris Bowen published their first joint open letter on Thursday, pledging to continue the work of previous climate summit presidencies, support the implementation of Nationally Determined Contributions (NDCs) and National Adaptation Plans, and expand climate finance globally.
Read MoreArticle 6 authority approves N2O carbon methodology
The UN body overseeing implementation of the Paris Agreement Crediting Mechanism (PACM) has approved a new methodology to reduce N2O emissions from nitric acid production.
Read MoreBRIEFING: Australian carbon market comes of age, but grapples with future direction
Fifteen years in, the Australian carbon market is becoming more vibrant, more active, and more mature. But as stakeholders prepare for a review of the Safeguard Mechanism, and with legislative changes to the Australian Carbon Credit Unit (ACCU) Scheme afoot, its future evolution is still to be determined.
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