Global tax on aviation, shipping could raise $200 bln annually by 2035 -IMF
International transportation, especially aviation and shipping, must be “urgently taxed” as that would raise up to $200 billion a year in revenues by 2035, potentially tripling current global climate finance, a paper released by the International Monetary Fund (IMF) has found.
Read MoreCFEL24: Airlines see CORSIA credit supply ‘tipping point’ approaching
The current lack of supply in carbon credits approved under the UN’s CORSIA carbon offsetting scheme could be coming to an end in November when new voluntary carbon standards are expected to be approved under the scheme by the International Civil Aviation Organisation (ICAO), industry officials say.
Read MoreCFEL24: Most VCM participants now seek compliance-eligible projects -ratings agency
Most voluntary carbon market (VCM) investors are now only looking at projects expected to fit within regulated regimes, like CORSIA or Article 6, according to the head of a carbon project ratings agency.
Read MoreBRIEFING: Article 6 needs streamlining and specifics, fewer constraints, says carbon industry
UN negotiators should facilitate private sector involvement in Article 6 through measures designed to streamline deal-making, authorisation, and transaction, but should not over-emphasise central infrastructure or interpret the Paris Agreement to preclude REDD projects, according to a carbon trading industry body.
Read MoreVCM Report: Resurfacing fraud charges undermine confidence, thin liquidity continues
The integrity of the voluntary carbon market came under the spotlight again last week after charges of fraud were unsealed by US authorities against Ken Newcombe, the former CEO of project developer CQC Impact Investors LLC (CQC), as well as the company’s ex-COO and a former managing director, Tridip Goswami, among others.
Read MoreNew one-stop solution created for airlines to buy CORSIA, voluntary carbon credits
Two companies have teamed up to offer airlines a one-stop solution for climate action via a portfolio of voluntary credits that includes those eligible for the UN’s international aviation offsetting scheme.
Read MoreUS airline sustainability head calls for policy alignment to boost SAF
The sustainable aviation fuels (SAF) industry is unlikely to scale without cohesive policy measures across jurisdictions, the sustainability lead at a major US airline said Thursday.
Read MoreBRIEFING: CORSIA ‘climate club’ seen as answer to voluntary carbon market demand problem
Market participants see the UN international aviation offsetting scheme as the first step in a voluntary credit demand recovery, and hope that other sectors will be inspired to establish similar carbon-buying clubs in the future.
Read MoreINTERVIEW: Cement giant says EU regulation too stringent to scale up e-fuel for maritime, aviation
A global maker of construction materials would like the EU to scrap a regulation that will only allow sustainably sourced CO2 in the production of e-fuels after 2041, saying it will constrain the ability to decarbonise maritime and aviation.
Read MoreAustralia pledges cash for SAF pilot
Australia has pledged more cash towards creating its own supply of sustainable aviation fuel (SAF) with funding of A$36.8 million ($25.3 mln) coming from Canberra and ground zero for jet-zero Queensland.
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