CORSIA-eligible carbon credits snapped up at $21.70 in auction
The first auction for Phase 1 CORSIA-eligible credits saw airlines snap up units at $21.70 per tonne, organising trade body the International Air Transport Association (IATA) confirmed Wednesday.
Read MoreVerra releases CORSIA carbon credit label guidance
Voluntary carbon standard Verra has released a guidance document that provides instructions for how project developers can request labels for credits eligible under the UN’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Read MoreVCM Report: Prices flatline, but new entrants to market , SBTi growth strike bullish outlook
Prices were little changed amid a quiet start to the year, but fresh analysis of the new entrants to the market in 2024, as well as a surge in the number of companies setting science-aligned climate targets painted a bullish outlook.
Read MoreGabon launches sovereign carbon initiative with $17/t “contribution”, CORSIA-linked offsetting provisions
Forest-rich Gabon has launched a sovereign carbon initiative that will require air travel and shipping operators to pay a $17-per-tonne emissions “contribution” to cover some of their climate impact from journeys to and from the African country, as well as provisions linked to offsetting using CORSIA-eligible credits.
Read MoreCARBON FORWARD MIDDLE EAST: Annual CORSIA carbon market valuation to exceed current VCM in Phase 1 -analysts
The price of carbon credits eligible for CORSIA Phase 1 (2024-26) could reach as high as $51 per tonne based on the current supply and demand outlook, with the annual market valuation for the period to exceed the current total for the entire VCM, according to analysts speaking at the Carbon Forward Middle East conference this week.
Read MoreCARBON FORWARD MIDDLE EAST: FEATURE – Compliance emissions pricing measures take root in the Gulf
Multiple gulf states have adopted domestic greenhouse gas (GHG) emissions pricing or reporting schemes over the past year, reflecting coordinated efforts to reduce the carbon intensity of their economies, market participants said at Carbon Forward Middle East in Abu Dhabi.
Read MoreCARBON FORWARD MIDDLE EAST: Arab League, voluntary carbon standard to sign Article 6 MoU -executive
The Arab League will next week sign a memorandum of understanding (MoU) with a voluntary carbon standard to build capacity for Paris Agreement carbon markets, an executive told Carbon Forward Middle East in Abu Dhabi on Thursday.
Read MoreCarbon credit rating agency BeZero secures $32 mln to push total funding past $100 mln
BeZero Carbon has secured $32 million in fresh funding to help expand its rating coverage to Article 6 credits, the international aviation emission scheme CORSIA, and the voluntary sector.
Read MoreFEATURE: Trump return adds uncertainty to CORSIA future as next phase approaches
US President-elect Donald Trump’s return to the White House and an upcoming EU review are raising uncertainty about whether the UN Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) will be implemented by enough countries to take a bite out of the sector’s rising emissions.
Read MoreUS biofuels producer closes billion-dollar DOE loan for SAF expansion
A US biofuels producer has closed a more than $1 billion loan with the federal government to expand its sustainable aviation fuel (SAF) production.
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