US threatens retaliation against EU over carbon border measures -FT
The US has said it would react with possible retaliatory measures against the EU if it opts to impose carbon border adjustments, the Financial Times reported, quoting US commerce secretary Wilbur Ross.
Read MoreWorld Bank REDD programme adopts changes to align with CORSIA
The World Bank’s Forest Carbon Partnership Facility (FCPF) has made revisions to its deforestation reduction programme methodology in response to comments from an UN aviation expert panel, with an aim of becoming eligible for the international flight offset programme CORSIA.
Read MoreShipping climate goal to cost 100 times more than industry proposing to raise
Global investment of $50-70 billion a year will be needed to halve emissions from shipping by 2050, a scale 100 times greater than an industry-proposed $2/t levy would raise but a level experts say has already been borne by the maritime sector within living memory.
Read MoreCORRECTION: As Trump blocks UN efforts to curb HFCs, US lawmakers try another way
US Congressional lawmakers have introduced a bipartisan act for a phase-down of highly potent HFC refrigerant gases, aiming to sidestep President Donald Trump’s refusal to ratify a UN pact amendment that would accomplish those goals.
Read MoreChile introduces offset provision in updated draft climate change law
Chilean emitters may use offset credits to comply with potential GHG limits under part of the country’s updated draft climate change law, as the beleaguered national government resumes work to hit more ambitious emission reduction targets.
Read MoreCountries should consider pausing global carbon market talks -NZ minister
Disputes over the rules for the markets chapter of the Paris Agreement may not be reconcilable and countries should consider pressing pause on these talks for a few years, New Zealand’s climate minister James Shaw said Wednesday.
Read MoreCOP25: Testing Article 6 talks delayed for second year after marathon UN climate summit
Marathon UN climate talks in Madrid finished on Sunday afternoon without agreeing rules for international emissions trade under the Paris Agreement’s Article 6, as beleaguered hosts Chile pushed the record-long summit to try to broker a deal on a handful of sticking points.
Read MoreCOP25: Roundup for Saturday and Sunday, Dec. 14-15
A marathon overnight session to develop an outcome for the UN climate summit was widely panned on Saturday morning, while negotiations on the highly contentious Article 6 rulebook for Paris-era international emissions trade continued.
Read MoreCOP25: Amid record high carbon prices, South Korea pins hopes on UN solution
South Korean negotiators play a far more active role than usual at this year’s UN climate negotiations in Madrid, hoping to push through rules that would allow Korean ETS firms to buy up to 55-60 million international carbon credits annually throughout the 2020s in a bid to avoid runaway domestic CO2 prices.
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