India shies away from setting net zero pledge at high-level summit
India’s power minister shied away from revealing any intentions to set a net zero objective for the country in an IEA high-level summit on Wednesday, while demanding developed nations start considering negative emissions targets.
Read MoreUPDATE – Middle East carbon standard approved as newest CORSIA offset programme
The ICAO Council this month upgraded the Qatar-based Global Carbon Council (GCC) to supply units for the international aviation offsetting scheme CORSIA, while the UN body also extended the eligibility dates for one already-approved programme.
Read MoreSouth Africa proposes tougher 2030 emissions target for revised NDC
South Africa’s government has proposed to tighten its 2030 emissions target by almost a third as part of a revised Paris Agreement pledge that sets out intentions for the export of correspondingly-adjusted carbon credits.
Read MoreUK should not use foreign credits to meet near-term climate goal, say advisors
The UK should not use foreign carbon credits to help meet its binding 2023-2027 emissions budget, but the country could consider purchases to help spur international action, the government’s climate advisory body said on Friday.
Read MoreMARC(U) MY WORD: Ensuring the acceptability of border carbon adjustments
EU discussion over imposing a border carbon adjustment has mostly focused on the technical design and implementation challenges raised by this complex instrument. Even the most robust design will mean little, however, if the measure fails to secure buy-in from relevant stakeholders in Europe and abroad, write Andrei Marcu of think-tank ERCST and Michael Mehling of MIT.
Read MoreVCM Report: VER prices converge, while CORSIA credit premium emerges
Voluntary emission reduction (VER) prices between different exchange-traded products narrowed over the week, while voluntary carbon market (VCM) participants took note of entities tacking on a premium to credits eligible for UN body ICAO’s global aviation offset scheme CORSIA.
Read MoreEXCLUSIVE: Discredited, ageing Kyoto offsets re-emerge to taint voluntary carbon market
Years after being widely discredited, decade-old Kyoto Protocol offsets from Russia and Eastern Europe are still in circulation in the voluntary carbon market, with nearly 2.6 million sold to companies in the EU and US by an established trading house that said some buyers are seeking the cheapest possible credits.
Read MoreLatest carbon market ETF sees managed assets more than triple year-to-date
Total assets under management by the newest carbon market ETF have more than tripled since the start of the year, in a further sign of investors rushing to gain exposure in this burgeoning asset class.
Read More“Forceful, abrupt” international climate action response to birth US carbon price by 2025 -experts
Delayed efforts to combat climate change will result in a “forceful, abrupt, and disorderly” response by governments by 2025, which combined with protectionist policies will see the US introduce a national carbon pricing system by that date.
Read MoreUN’s COP26 climate summit in Glasgow to go ahead as planned this year -media
The UN’s COP26 climate summit will go ahead as planned in Glasgow later this year, the Scottish Government’s lead for the summit has reportedly said.
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