VCM Report: Nature-based offset trades rev up amid wider VER stagnation
Voluntary emissions reduction (VER) prices dithered this week evenas spot commodities exchange and market data firm Xpansiv announced the inaugural trades in its nature-based offset product, while a new report highlighted the expansion of voluntary carbon market (VCM) interest in forestry-based credits over the past five years.
Read MoreCOMMENT: Climate action claims are the new frontier for robust carbon accounting
Instruments to reduce emissions need to be clearly ranked for their environmental integrity and associated with robust claims that provide an accurate representation of the impacts achieved, argues Marion Verles of SustainCERT, adding that having civil society formulate a consensus on what can and can’t be done with offsets would go a long way in reassuring corporates and citizens that the market is trustworthy.
Read MoreChina carbon market faces surplus of 1.56 bln allowances for 2019-20, analysts find
China is likely to have oversupplied its national emissions trading scheme by as much as 1.56 billion allowances for 2019 and 2020, pushing the fair value of permits in the market to zero.
Read MoreTighter ETS settings could make huge difference for China’s power emissions -IEA
An emissions trading scheme with steadily tightening benchmarks and increased use of auctioning could cut CO2 emissions from China’s power sector by over 1 billion tonnes by 2035, according to the International Energy Agency (IEA).
Read MoreVCM Report: VER prices fade to one-month low, while traders mull impacts of forestry credit review
Voluntary emission reduction (VER) prices continued a month-long descent this week as activity picked up in the futures market, while voluntary carbon market (VCM) traders pondered the impacts of US-based The Nature Conservancy undertaking an internal review of its forestry projects over additionality concerns.
Read MoreUPDATE – VCM Report: VER issuances and retirements grow in first quarter of 2021
Voluntary emission reduction (VER) prices largely continued their downward or stagnant trend this week on lower activity, even as data showed voluntary carbon market (VCM) issuances and retirements surged in the first quarter of the year compared to 2020.
Read MoreCN Markets: CCER bids rise to nearly 30 yuan as national ETS launch looms
Interest in offsets is rising in China with traders taking punts on units they think will be eligible in the national ETS, while Chongqing and Guangdong performed best among the regional pilot markets over the past month.
Read MoreUPDATE – Middle East carbon standard approved as newest CORSIA offset programme
The ICAO Council this month upgraded the Qatar-based Global Carbon Council (GCC) to supply units for the international aviation offsetting scheme CORSIA, while the UN body also extended the eligibility dates for one already-approved programme.
Read MoreChina sets year-end compliance deadline for 2019, 2020 ETS emissions
More than 2,200 power companies covered by China’s national emissions trading scheme will have to surrender allowances for their 2019 and 2020 CO2 emissions by Dec. 31, the government said Tuesday.
Read MoreChina prepares to give emissions trading scheme a legislative foundation
China’s Ministry of Ecology and the Environment (MEE) on Tuesday released draft legislation that aims to write the national ETS into law, a move that would bolster the scheme’s authority and enable the government to hand out stricter penalties for non-compliance.
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