Two more African nations ready themselves for international carbon trading
Two more African nations have introduced guidelines and regulations to govern carbon trading, with a view to selling forest credits and other types of offsets to foreign buyers.
Read MoreEU legislators strike provisional deal on remaining ETS elements of Fit for 55 package
EU legislators struck a provisional deal on the remaining EU ETS-related bills under the bloc’s overarching Fit for 55 climate policy package early Sunday, agreeing to backload efforts until later in the decade but securing a slightly higher 2030 emissions reduction target than originally proposed.
Read MorePREVIEW: EU legislators gear up for ‘jumbo’ talks to reshape the carbon market
EU legislators will on Friday aim to negotiate to a finish EU ETS-related bills under the bloc’s overarching Fit for 55 climate policy package, with talks expected to last over one or even two nights.
Read MoreJapan ministry proposes to move forward carbon levy start date
Japan’s Ministry of Economy, Trade, and Industry (METI) on Wednesday proposed to start taxing fossil fuel imports and some other carbon-related activities two years earlier than its previous proposal, as the government continues to work on its plan to gradually roll out a comprehensive carbon pricing system this decade.
Read MoreEU legislators strike provisional deal to impose carbon border measures
EU legislators reached a provisional agreement early on Tuesday to impose a carbon border adjustment mechanism (CBAM) on selected imported goods, though the pace of its replacement with EU ETS free allocation as a carbon leakage protection measure is yet to be determined.
Read MoreBursa Malaysia launches VCM exchange for local and international carbon traders
Bursa Malaysia officially launched its voluntary carbon market (VCM) exchange on Friday, to be known as BCX, an initiative jointly developed with the Malaysian ministries of environment and finance, as the Southeast Asian nation seeks to unlock sources of VCM revenue to help meet its climate and environmental policy goals.
Read MoreMSR raid may be back on the table as REPowerEU, EU ETS reform talks near end
An option to raise €20 billion for the REPowerEU package by selling allowances held in the supply-managing MSR is still being discussed by legislators in final negotiations, an MEP close to the process said Thursday, reflecting on a controversial idea that had been widely considered ‘off-the-table’.
Read MoreIndustry groups urge EU to include export support in carbon border measures
Industry representatives are piling pressure on European institutions to introduce WTO-compliant ‘export adjustments’ to the proposed carbon border adjustment mechanism (CBAM) as talks over the mechanism near closure.
Read MoreActivity ramps up in GEO futures after UN deal stokes offset compliance talk
Activity is ramping up in the CBL GEO futures on the CME exchange ahead of the introduction of the first phase of the airline scheme the standardised contract is based on, although the move also coincides with increasing talk of using these types of carbon credits in national compliance programmes.
Read MoreCCUS in India has key net zero role but needs incentives, govt think-tank says
CCUS can play a critical role in India’s decarbonisation efforts but a viable policy framework that prioritises financial and tax incentives across the value chain needs to be put in place to bring it to scale, including via the carbon market, a government think-tank has urged.
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