Climate Ambition Summit: World leaders strengthen pledges, celebrate Paris anniversary
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.
Read MoreUS carrier United Airlines snubs carbon offsets in 2050 net zero pledge
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.
Read MoreSwitzerland’s Paris pledge curbs offset reliance, targets imports
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.
Read MoreUK should front-load its effort towards net zero, say advisors
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.
Read MoreResearchers urge removal of older offsets, legacy projects to save global voluntary carbon market
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.
Read MoreEU aviation carbon market revenues can spur innovation, support cleaner fuels -report
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.
Read MoreVerra proposes new carbon unit to scale up finance before offset issuance
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.
Read MoreUN considers stopgap CDM deal to stave off Paris-era freeze out
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.
Read MorePortugal adopts passenger carbon tax in 2021 state budget
A proposal to introduce a transport passenger carbon tax in Portugal’s budget for next year was adopted in the national parliament on Wednesday.
Read MoreUK govt fines trio of grounded airlines over £130 mln for EU ETS breaches
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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