China sees first registered voluntary carbon project since market relaunch

Published 10:44 on December 3, 2024  /  Last updated at 10:44 on December 3, 2024  / /  Asia Pacific, China

China has seen the registration of a first voluntary project under its national offset scheme since the market relaunched earlier this year, moving one step closer to the issuance of new credits.

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Fragmentation of standards a fact of life in new carbon market landscape, say experts

Published 10:20 on December 3, 2024  /  Last updated at 10:20 on December 3, 2024  / /  Americas, Asia Pacific, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, Voluntary

Fragmentation in international carbon markets is now a “reality”, and it is unlikely that there will be a single global standard for credits as countries continue to take different approaches in terms of project development, according to panelists speaking at a conference on Tuesday.

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South Korea, UNFCCC to develop Paris-aligned voluntary carbon market

Published 08:13 on December 3, 2024  /  Last updated at 08:13 on December 3, 2024  / /  Asia Pacific, International, Nature-based, Paris Article 6, South Korea, Voluntary

South Korea and the UNFCCC secretariat have agreed to jointly develop a global voluntary market aligned with the Paris Agreement, with detailed plans to be disclosed early next year.

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NZ bank commits fresh funds to agribusiness carbon cuts in updated sustainability targets

Published 05:31 on December 3, 2024  /  Last updated at 05:31 on December 3, 2024  / /  Asia Pacific, New Zealand

Westpac NZ has updated its sustainability targets for 2027, which include boosting sustainable lending to NZ$9 billion ($5.2 billion), almost half of which will go towards its agribusiness customers to reduce emissions, it announced Tuesday.

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Demand signals needed to drive green steel development in China, report says

Published 21:00 on December 2, 2024  /  Last updated at 10:33 on December 2, 2024  / /  Asia Pacific, China

Chinese steelmakers need stronger demand signals, such as a much larger volume of purchase commitments, to spur investment in technologies to make green steel at scale, according to a report released Tuesday.

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VCM Report: Verra carbon credit retirements breach 7 mln as market shows signs of life

Published 16:53 on December 2, 2024  /  Last updated at 16:53 on December 2, 2024  / /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Nature-based, Voluntary

Retirements in the Verra voluntary carbon registry surged to just over 7 million last week, as the market started to show some life after having failed to ignite after the COP climate talks last month.

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IFC launches $450-mln green bond to fund biodiversity

Published 16:29 on December 2, 2024  /  Last updated at 02:23 on December 3, 2024  /  Americas, Asia Pacific, Australia, Biodiversity, South & Central

The International Finance Corporation (IFC) has issued a A$700-million ($451 mln) so-called green kangaroo bond in Australia to help close the biodiversity funding gap in emerging markets, it announced Monday.

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Insurers must contribute to nature-positive future, UNEP FI says

Published 16:25 on December 2, 2024  /  Last updated at 16:25 on December 2, 2024  / /  Americas, Asia Pacific, Biodiversity, EMEA

A “first-of-its-kind” guide to try to galvanise action from insurers to engage with a nature-positive future, enabling investments in ecosystems and innovative biodiversity-linked products, was published Monday by the UN Environment Programme Finance Initiative (UNEP FI).

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Indonesia’s 2040 coal phase-out target difficult, could hit ratings -agency

Published 10:04 on December 2, 2024  /  Last updated at 10:04 on December 2, 2024  / /  Asia Pacific, Other APAC

Indonesia’s recently announced 2040 target coal phase-out date may be unrealistic and could affect power and resource sector companies’ credit ratings if the government adjusts its policy approach to meet the goal, a leading rating agency warned over the weekend.

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INTERVIEW: Article 6 decision marks ‘fundamental’ shift in landscape for project developers

Published 09:24 on December 2, 2024  /  Last updated at 09:24 on December 2, 2024  / /  Americas, Asia Pacific, Climate Talks, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, Voluntary

The breakthrough on Article 6, achieved in Baku last month, will have a huge impact on the ground in terms of project development, according to executives at a global association for the sector.

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