Flood or drought: Details make the difference for transitioned CDM supply
The international carbon market under the Paris Agreement could be saddled with as many as 1.5 billion or as few as 46 million pre-2020 credits from the Clean Development Mechanism (CDM), depending on restriction details, according to a report released Thursday.
Read MoreBilateral deals, not talks, likely to shape Article 6 emissions trade rules –NZ minister
Rules for international emissions trade under the Paris Agreement’s Article 6 are more likely to emerge from bilateral deals rather than via climate negotiations, according to New Zealand’s Climate Change Minster James Shaw.
Read MoreUK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents
The British government is consulting the oil and gas industry about penalties under a post-Brexit UK emissions trading scheme, in what observers said was another potential sign the country will opt to implement a domestic cap-and-trade system instead of a tax when it leaves the EU ETS at the end of this year.
Read MoreRussia submits slightly higher Paris pledge that still allows for vast emissions growth
Russia became the 13th nation to submit a new NDC to the Paris Agreement on Wednesday, with the world’s fourth largest emitter confirming a decree signed earlier this month.
Read MorePresident-elect Biden taps Kerry as US climate ‘czar’
US President-elect Joe Biden (D) named former Secretary of State John Kerry (D) to a chief climate position in his administration on Monday, selecting a Paris Agreement veteran as the Democratic nominee seeks to immediately rejoin the pact next year.
Read MoreTwo CORSIA programmes approved as first REDD standards in a compliance carbon market
UN body ICAO’s Council this week fully approved a new jurisdictional REDD programme to supply carbon credits under the pilot phase of the CORSIA global aviation offset scheme, that alongside an update to a previously-recognised standard will see a compliance-based carbon market accept international deforestation reduction units for the first time.
Read MoreANALYSIS: EU budget delay imperils year-end deal to increase 2030 climate goal
The EU’s failure to conclude negotiations on a budget and stimulus package this week could derail efforts to agree an increase the bloc’s 2030 emissions target by year-end, though experts say that lawmakers increasingly linking the two issues could smoothen their passage.
Read MoreGlobal emissions far off track for 1.5C, even as US GHGs to plunge to 1983 levels this year -reports
Countries are progressing on their GHG reduction targets too slowly to reach net zero emissions by mid-century, even as the COVID-19 pandemic may inadvertently put the US on track to meet its previous Paris Agreement goals, according to two reports published Thursday.
Read MoreSwitzerland signs second carbon offset deal with Ghana
Switzerland has agreed a bilateral deal with Ghana to purchase carbon offsets under the Paris Agreement’s Article 6, in the second such agreement announced by the European nation in as many months.
Read MoreBritish PM Johnson unveils 10-point climate plan to spark new, ‘green’ industrial revolution
British Prime Minister Boris Johnson on Tuesday unveiled a 10-point plan to mobilise tens of billions of pounds in public- and private-sector investment and spark a “green industrial revolution” in the country.
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