COP16: Guterres urges governments to ramp up efforts on nature financing, national plans
Governments at the ongoing COP16 biodiversity summit must ramp up their efforts to break the deadlock on the toughest issues under discussion, as talks still hang in the balance with only two days to go, the UN secretary-general told a press conference on Wednesday.
Read MoreEuro Markets: EUAs give up two days of gains on technical, energy selling after COT shows funds cut shorts
EU carbon allowance prices fell back on Wednesday amid a wider retreat in energy markets, as weekly positioning data showed speculative players had cut their net short position in carbon significantly, easing the upward pressure on prices, while investment funds continued to add length in natural gas.
Read MoreFEATURE: CBAM fourth quarterly report spooking EU importers, low compliance expected
Many companies importing goods covered by the EU’s carbon tax will fail to report their actual emissions data in time for the European Commission Thursday deadline – as they struggle to navigate difficult reporting requirements, inconsistencies, and flaws in the policy, according to consultancies and businesses.
Read MoreEuropean Greens lay out Article 6 demands for COP29 climate summit
European Greens are calling on countries to clinch an ambitious agreement on Article 6 of the Paris Agreement governing international carbon markets and the trade of emission reductions, saying rich countries must fulfil their climate obligations first rather than seek credits from emission reductions projects abroad.
Read MoreUK puts billions towards carbon capture, nuclear, clean energy, and prepares for CBAM
The UK government will put billions of pounds into carbon capture, utilisation, and storage (CCUS), nuclear power, hydrogen, renewables, zero-emission vehicles, and sustainable agriculture over the next fiscal year, and plans to introduce a carbon border tax on imports from 2027, Chancellor Rachel Reeves announced on Wednesday.
Read MoreFinnair delays climate neutrality goal five years, until 2050
Finland’s flagship carrier announced on Wednesday it had pushed its climate neutrality goal from 2045 to 2050, saying this was due partly due to the company’s decision to exclude carbon offsets from its climate solutions portfolio.
Read MoreCORRECTED – Voluntary carbon registries can foster healthy competition once Article 6.2 registry starts up -UN expert
Independent carbon credit registries will continue to play a role, and foster healthy competition, even after a centralised UN registry is created under Article 6.2 of the Paris Agreement, according to a member of the UN group mandated to determine the international carbon market rules.
Read MoreCOP16: First batch of companies announce science-based nature targets
The Science Based Targets Network (SBTN) on Wednesday announced a first batch of companies that have set targets under its framework, with three major corporations taking on commitments related to freshwater and land.
Read MoreNature-based solutions standard launches new digital portal for carbon project certification
A London-headquartered standard has launched an online portal to improve the efficiency of the certification process for nature-based carbon offset projects, the organisation announced this week.
Read MoreEXCLUSIVE: More carbon standards fully approved to supply CORSIA credits for current phase
UN aviation body ICAO has awarded full approval to four more voluntary carbon standards for Phase 1 of CORSIA (2024-26), Carbon Pulse has learned, meaning their credits will become eligible for use by airlines during the current stage of the international offsetting scheme.
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