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Climate Ambition Summit: World leaders strengthen pledges, celebrate Paris anniversary

Published 15:04 on December 12, 2020  /  Last updated at 20:53 on December 12, 2020  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, Carbon Taxes, 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, US, Voluntary Market  /  No Comments

Over 70 world leaders addressed the Climate Ambition Summit on Saturday, a one-day virtual forum aimed at building momentum for raising national pledges to the 2015 UN Paris Agreement ahead of the pact taking effect next year.

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US carrier United Airlines snubs carbon offsets in 2050 net zero pledge

Published 22:08 on December 10, 2020  /  Last updated at 22:38 on December 10, 2020  /  Americas, Aviation/CORSIA, International, US, Voluntary Market  /  No Comments

United Airlines will eschew the use of traditional carbon credits in favour of direct air capture technology and sustainable aviation fuel in reaching CO2 neutrality by mid-century, the Chicago-based company announced Thursday.

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Switzerland’s Paris pledge curbs offset reliance, targets imports

Published 21:14 on December 10, 2020  /  Last updated at 06:03 on December 11, 2020  /  Aviation/CORSIA, Climate Talks, EMEA, EU ETS, International, New Market Mechanisms  /  No Comments

Switzerland’s updated climate plan is set to curb the country’s reliance on international credits, but intends to use flight ticket tax revenues to help compensate for emissions linked to imported goods.

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UK should front-load its effort towards net zero, say advisors

Published 00:01 on December 9, 2020  /  Last updated at 08:38 on December 9, 2020  /  Aviation/CORSIA, EMEA, EU ETS, New Market Mechanisms  /  No Comments

The UK should front-load its efforts towards its 2050 net zero goal by setting a 2035 emissions reduction target of 78% under 1990 levels, and should consider forcing airlines to buy domestic removals offsets, the government’s independent advisory body said on Wednesday.

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Researchers urge removal of older offsets, legacy projects to save global voluntary carbon market

Published 20:56 on December 8, 2020  /  Last updated at 00:46 on December 9, 2020  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, China, China's Offset Market, EMEA, International, Kyoto Mechanisms, Middle East, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

Call it the ‘first-mover disadvantage’. Researchers are urging for carbon credits generated from historical emissions reductions, as well as the older projects that created them, to all be purged in a bid to save the global voluntary offset market.

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EU aviation carbon market revenues can spur innovation, support cleaner fuels -report

Published 17:40 on December 1, 2020  /  Last updated at 19:53 on December 1, 2020  /  Aviation/CORSIA, EMEA, EU ETS, International  /  No Comments

Free allocation of carbon allowances to intra-EU flights should be scrapped and revenues from auctioning them used to support innovation and the deployment of cleaner aviation fuels, said an NGO report released this week.

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Verra proposes new carbon unit to scale up finance before offset issuance

Published 16:19 on December 1, 2020  /  Last updated at 16:19 on December 1, 2020  /  Americas, Aviation/CORSIA, International, New Market Mechanisms, REDD, US, Voluntary Market  /  No Comments

Offset standard developer and manager Verra published a consultation on Tuesday for a new carbon unit designed to help nature-based projects access financial flows prior to receiving verified credits.

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UN considers stopgap CDM deal to stave off Paris-era freeze out

Published 13:54 on November 30, 2020  /  Last updated at 13:54 on November 30, 2020  /  Asia Pacific, Aviation/CORSIA, Climate Talks, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, South Korea, Voluntary Market  /  No Comments

UN officials are considering ways of temporarily maintaining the CDM into 2021, aiming to avert killing off the offset mechanism before countries decide whether it can transition into the Paris Agreement era.

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Portugal adopts passenger carbon tax in 2021 state budget

Published 15:19 on November 26, 2020  /  Last updated at 22:34 on November 26, 2020  /  Aviation/CORSIA, Carbon Taxes, EMEA, EU ETS  /  No Comments

A proposal to introduce a transport passenger carbon tax in Portugal’s budget for next year was adopted in the national parliament on Wednesday.

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UK govt fines trio of grounded airlines over £130 mln for EU ETS breaches

Published 21:44 on November 25, 2020  /  Last updated at 00:15 on November 26, 2020  /  Aviation/CORSIA, Bavardage, EMEA, EU ETS, International  /  No Comments

The UK has levied more than £130 million in fines on three grounded airlines for not complying with their obligations under the EU carbon market.

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