Countries warned to keep ‘cheap’ abatement at home as Paris goals loom
Countries should use their “own” cheap abatement for their own climate targets, a leading COP27 negotiator told a webinar Thursday after pointing out that costs to meet net zero are going to rise.
Read MoreSwitzerland confirms 2% voluntary carbon credit cancellation for atmosphere
The Swiss government issued a statement on Tuesday confirming that 2% of its imported carbon credits would be cancelled for the good of the environment, a provision recommended under the Paris Agreement but remaining voluntary in many cases.
Read MoreAfter COP27, the private sector weighs in on carbon market rules
With several pointed issues better crystallised at the COP27 UN climate talks last week, stakeholders weighed in on Thursday about how these rules may be applicable to the voluntary carbon market (VCM).
Read MoreCOMMENT: COP27 delivers a clear signal to the voluntary carbon market
The COP27 UN climate talks gave a clear signal that ”mitigation contribution” units cannot be used for offset claims, the next step is for all voluntary market participants to finally accept this, writes Niklas Kaskeala of carbon credit retailer Compensate.
Read MoreANALYSIS: Scope 3 emissions could be fertile ground for new “contribution” credits
Newly defined carbon credits under the UN’s Paris Agreement could serve an important role in corporates’ net zero carbon claims, according to some experts and government representatives, even though these credits are not designed as traditional “offsets.”
Read MoreFEATURE: Australia wants to host COP31 with the Pacific, but its actions at home and abroad may complicate things
Australia has been adamant that it wants to host COP31 in partnership with Pacific Island nations in 2026, but the country’s continuing fossil fuel subsidies and its aim to use carbon credits generated in the region to offset those developments could stymie partnership building efforts, a diplomatic expert has said.
Read MorePost-COP27 pressure set to mount on who foots bill for climate change
Climate-related finance demands are very likely to grow in the coming weeks and months, as nations meet in high-stakes nature negotiations in Montreal, and discussions escalate elsewhere on broader global-financial-system reform pursuant to the climate crisis.
Read MoreVCM Report: Slight uptick in N-GEO activity a bright spot in moribund market
The rise in open interest in the N-GEO future and a slight uptick in the spot N-GEO proved the bright spots for a voluntary carbon market that remained stuck in the doldrums last week amid a lack of year-end mitigation demand.
Read MoreSingapore signs bilateral Article 6-aligned carbon market agreement with Peru
Singapore and Peru signed a Memorandum of Understanding (MoU) on the sidelines of COP27 in Sharm el-Sheikh to collaborate on carbon markets in alignment with Article 6 guidelines, both countries have announced.
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