UN chief warns Davos on climate inaction, global risks
UN Secretary General Antonio Guterres told the World Economic Forum (WEF) on Monday that there is no sign that governments are planning to effectively manage climate risks, urging the private sector to step up efforts and avoid greenwashing well ahead of November’s COP27 UN climate talks in Egypt.
Read MoreVCM Report: Nature-based contract hits new heights while CORSIA units falter
Standardised nature-based voluntary emissions reductions (VER) prices found strength this week, while technology-based CORSIA-eligible credits and others generally flatlined or sank.
Read MoreShell sees increasing role for carbon price in China’s decarbonisation process
China’s domestic carbon price could rise 400% above current levels by 2030 and kick on from there as part of the country’s efforts to decarbonise by 2060, oil major Shell said in a report Monday.
Read MoreChina thermal power generation rises 8.4% in 2021
China’s thermal power generation rose 8.4% in 2021, government data showed Monday, with the nation’s Covid recovery causing a surge in carbon emissions.
Read MoreCN Markets: CEAs stable as traders await allocation plan
Chinese carbon allowance prices remained largely stable over the past week as market participants await the official allocation plan for 2021, while offsets are being offered at far above market prices amid severely limited supply.
Read MoreRebound in demand saw global electricity emissions spike by 7% in 2021, IEA says
Strong growth in global electricity demand of 6% in 2021, brought about by the recovery of global GDP from the Covid-19 induced slump from the year before and extreme weather conditions, saw electricity CO2 emissions spike by nearly 7% to reach a record level in the year of COP26, the International Energy Agency (IEA) stated on Friday.
Read MoreChina’s biggest CCS project to start first-phase operations this year
A carbon capture and storage (CCS) project in China’s western Xinjiang region that will become China’s biggest of its kind when it is fully operational plans to launch its first phase this year.
Read MoreUN teams up with second exchange to promote CDM credit sales to voluntary market
The UN’s climate change agency has partnered with a second carbon exchange to drive sales of carbon credits issued under its Kyoto-era Clean Development Mechanism (CDM) to the voluntary carbon market, as the international offsetting scheme readies its transition under the Paris Agreement.
Read MoreChina plans regional carbon sink trading schemes in the northeast
China’s central government said Tuesday to establish carbon sink trading pilots in Inner Mongolia and Heilongjiang province in northeast China, two of China’s most forestry abundant regions.
Read MoreANALYSIS: A potent force – making a market for methane emissions
Methane emissions concentrations in the atmosphere reached all-time highs in 2021 along with most other greenhouse gases, but with limited upstream regulation at oil and gas operations, product labelling and certificate trading are building momentum as an additional way of curbing the potent discharges.
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