Nearly 100 countries submit DNAs to UN as Article 6 implementation gathers pace
Nearly 100 countries have now submitted their Designated National Authority (DNA) under Article 6.4 to the UNFCCC, indicating growing interest in carbon market participation following the breakthrough on international carbon markets at COP29 in Baku.
Read MoreLATAM Year in Review: Carbon markets spring forward as major economies advance pricing schemes
Carbon Pulse rounds up the most significant carbon pricing trends and developments in the Latin America and Caribbean (LATAM) region for 2024, highlighting a diversifying and increasingly international markets landscape, as major regional powers, notably Brazil, took a big step forward in advancing mechanisms.
Read MoreFEATURE: Social acceptance of the Green Deal at a minimum endangers EU ETS2
The second chapter of the EU’s Emissions Trading System risks being delayed and watered down if governments leverage certain clauses aimed at protecting vulnerable people, as political clashes within the bloc continue to undermine the reputation and very existence of the European Green Deal.
Read MoreUN cancels tender to build centralised Article 6 registry system
A UN tender to build a centralised registry system for carbon trading under Article 6 of the Paris Agreement has been cancelled, Carbon Pulse has learned, though an interim solution is expected to be operational by year’s end.
Read MorePNG governor proposes rainforest nation summit ahead of COP30
Rainforest nations should meet for a summit in Papua New Guinea ahead of next year’s COP30 in Brazil, set to be a crucial event for nature, according to a PNG governor.
Read MoreFEATURE: Carbon markets will almost certainly be counted towards climate finance goal, even without specific mention
The money flowing into international carbon markets could be counted in future tallies of global climate finance — although the lack of a specific mention in the final agreement on a new global goal at COP29 means that the extent to which this happens, and how trust in the market is ensured, is largely up in the air.
Read MoreANALYSIS: Forest carbon credits may find a home in Article 6
Forestry carbon credits, including from REDD and ARR reforestation sectors, now have the green light to scale via Paris Agreement carbon markets, following last month’s historic decision at COP29, but the exact methodologies that will be used, and strength of demand, remain uncertain.
Read MoreGovt climate advisors urge UK to make new Paris Agreement pledge credible
The UK needs to make its ambitious emissions reduction targets credible by closing the “domestic delivery gaps” and speeding up the roll-out of clean transport, home heating, and tree planting, the government’s independent climate advisory body said on Wednesday.
Read MoreFEATURE: Carbon market experts see huge potential for crediting SF6 emissions mitigation from grid expansion
Market experts see significant potential in crediting the reduction of sulphur hexafluoride (SF6) emissions linked to grid expansion in the power sector and the clean energy transition, with a German government-backed initiative also looking at the role of carbon finance in the relatively untapped field of mitigation.
Read MoreSaudi Arabia offers Kenya $8 per carbon credit in COP16 VCM deal -media
Saudi officials and private sector players are open to buying carbon credits from Kenya in a voluntary market (VCM) deal at $8 per tonne, according to statements made on the sidelines of the UN Convention to Combat Desertification (UNCCD) COP16 conference in Riyadh last week.
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