COP24: Companies, business groups band together to avoid double counting in carbon markets
Some 40 companies, business group, and environmental organisations on Wednesday released the ‘Katowice Declaration on Sound Carbon Accounting’ to avoid double counting of emission cuts in carbon markets set up under the Paris Agreement and ICAO.
Read MoreCOP24: ICAO dodges CORSIA offset decisions as EU aims to keep options open
UN aviation body ICAO has once again postponed decisions on eligible credits and cleaner fuels under its CORSIA global offsetting mechanism, miring it in further uncertainty as the EU takes steps to safeguard its ability to continue regulating flight emissions.
Read MoreMeeting 2C target requires tripling of NDC emission cut rate -UN report
Countries are going even further off track towards limiting global warming to 2C as emissions began increasing in 2017, according to a UN report that found nations must triple emissions cuts pledged under the Paris Agreement to keep within the temperature limit.
Read MoreOil firm Equinor vows to buy REDD units to offset international operations
Norway’s oil firm Equinor plans to buy REDD forest protection credits to offset its emissions from operations not already covered by carbon pricing as the company is set to ramp up its foreign exploration, its CEO said Tuesday.
Read MoreHopes fade for progress on a CDM transition this year
Governments are not expected to offer much clarity on how the CDM will transition into the post-2020 Paris Agreement era as year-end UN talks in Katowice get bogged down in other issues, observers say.
Read MoreCalifornia punts endorsement of Tropical Forest Standard to 2019
California regulator ARB on Friday postponed a decision until next spring on whether to approve the Tropical Forest Standard (TFS) that could allow jurisdictions to link their sector-based offset programmes to the state’s carbon market, with stakeholders warning of the standard’s environmental and social ramifications.
Read MoreBrussels urges EU states to “file difference” to UN’s CORSIA aviation scheme
The European Commission is urging EU states to “file a difference” to the rulebook on the UN’s CORSIA, a Commission official said Monday, a move that casts further doubt on the future of the aviation offsetting scheme.
Read MoreAviation industry urges governments to wait to set a global GHG target
Governments should wait two or three years before setting a global aviation emission goal in case they “lose focus” on implementing the CORSIA offsetting mechanism, which is designed to limit emissions at 2020 levels, senior aviation representatives told a conference Monday.
Read MoreIMO still docked in finding ways to meet shipping’s global emission goals
Governments at the International Maritime Organisation (IMO) this week got off to a slow start in agreeing measures to help meet emission reduction goals, but the group took steps to keep in play the launch of a market-based measure from 2023.
Read MoreUS EPA aiming for early 2019 in finalising major environmental rollbacks as aviation and biomass on hold
The US EPA signalled Wednesday it is aiming to finalise rulemaking on regulations for the power and transportation sector early next year, while deferring further decisions on how to set GHG standards in aircraft and treat biogenic CO2 emissions.
Read More