A climate finance quantum leap is essential and achievable, UN’s climate boss says

Published 17:27 on April 10, 2024  /  Last updated at 17:27 on April 10, 2024  / Sara Stefanini /  Africa, Americas, Asia Pacific, Carbon Taxes, Climate Talks, EMEA, International, Paris Article 6

The world’s major economies and multilateral development banks must lead the way in redirecting trillions of public and private funds towards climate action in the countries that most need it, the head of the UN’s climate unit said on Wednesday. 

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EU food ETS needed to reach global decarbonisation goals -report

Published 16:57 on April 10, 2024  /  Last updated at 16:59 on April 10, 2024  / Emanuela Barbiroglio /  Carbon Taxes, CBAM, Climate Talks, EMEA, EU ETS, International

A European Emissions Trading Scheme (ETS) that pioneers carbon pricing for food and agriculture is essential to reach global decarbonisation goals, argues a report published on Wednesday (April 10).

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Global carbon emissions trading revenues rise 17% to record $74 bln in 2023 -report

Published 16:00 on April 10, 2024  /  Last updated at 15:42 on April 9, 2024  / Roy Manuell /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, Carbon Taxes, China, EMEA, International, Japan, Kyoto Mechanisms, Mexico, Middle East, Nature-based, New Zealand, Other APAC, Paris Article 6, South & Central, South Korea, US, Voluntary

A total of more than $74 billion was raised from 36 carbon emissions trading systems last year, up from $63 bln the year before, with strong momentum building for new mechanisms in emerging economies, according to research published Wednesday.

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Malaysian govt to incorporate state’s carbon trading bill into federal law

Published 13:21 on April 10, 2024  /  Last updated at 13:21 on April 10, 2024  / Nikita Pandey /  Asia Pacific, Carbon Taxes, Nature-based, Other APAC, Voluntary

The Malaysian federal government has agreed to integrate the state of Sarawak’s carbon trading bill as part of the federal law which will be presented before Parliament for approval, according to local media reports.

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Carbon markets could support CCS development, but more is needed -report

Published 12:56 on April 10, 2024  /  Last updated at 12:56 on April 10, 2024  / Helen Clark /  Asia Pacific, Carbon Taxes, EMEA, EU ETS, International, Japan, Kyoto Mechanisms, Nature-based, Other APAC, UK ETS, Voluntary

Carbon markets could support carbon capture and storage (CCS) work but hurdles remain, such as return on investment, buyer appetite, and incentivising the entire chain including transport, according to a report released this week.

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Carbon accounting firm launches product to help metals and energy firms disclosure supply chain emissions

Published 09:27 on April 10, 2024  /  Last updated at 09:27 on April 10, 2024  / Roy Manuell /  Americas, Asia Pacific, Carbon Taxes, CBAM, EMEA, International, Nature-based, Voluntary

A carbon accounting platform has unveiled a solution aimed at helping corporates in the metals and energy sectors disclose supply chain emissions for both compliance and voluntary purposes, including for the EU’s Carbon Border Adjustment Mechanism (CBAM).

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International steel competitors may reserve low-carbon products for EU to bypass CBAM -industry

Published 19:57 on April 9, 2024  /  Last updated at 19:57 on April 9, 2024  / Rebecca Gualandi /  Carbon Taxes, CBAM, EMEA, EU ETS, International

International competitors of the European steel industry may bypass the bloc’s Carbon Border Adjustment Mechanism (CBAM) fees by building specific low-carbon facilities whose products will be reserved for the EU market, the head of a regional association said on Tuesday.

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UPDATE – EU industrial heavyweights outline green priorities for next European Commission

Published 10:53 on April 9, 2024  /  Last updated at 14:01 on April 9, 2024  / Frédéric Simon /  Asia Pacific, Carbon Taxes, EMEA, EU ETS, International

Germany, France and Italy spelt out their industrial policy priorities for the next European Commission on Monday, with a heavy emphasis on measures to defend the EU’s clean tech sector against US protectionism and Chinese dumping.

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US economist raises social cost of carbon to $225/tonne

Published 16:30 on April 8, 2024  /  Last updated at 16:30 on April 8, 2024  / Alejandra Padin-Dujon /  Americas, Carbon Taxes, International

One of the key architects of the ‘social cost of carbon’ (SCC) price on climate impacts has released new projections judging that it now sits at $225/tonne CO2 – higher than earlier estimates, including those of the US Environmental Protection Agency (EPA).

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Argentina set on carbon markets but other Latin American countries falter -analysts

Published 15:53 on April 5, 2024  /  Last updated at 15:53 on April 5, 2024  / Alejandra Padin-Dujon /  Americas, Carbon Taxes, Climate Talks, International, Mexico, Nature-based, Paris Article 6, South & Central, Voluntary

Argentina’s new government is pursuing voluntary and compliance carbon markets by any means possible, but other Latin American countries are struggling to operationalise adequate legal and technical infrastructure, according to regional experts on a webinar.

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