PCF26: FEATURE – Carbon finance in Peru should complement int’l aid, officials and partners say
Peru’s carbon market should be self-sustaining instead of relying excessively on foreign aid, without necessarily replacing international funds, officials and institutional partners told Carbon Pulse this week at the Peru Carbon Forum in Lima.
Read MoreBRIEFING: Campaigners pose three quality approaches for use of international credits in EU
The European Union should adopt a hybrid approach when considering the quality of international credits that could count towards its 2040 emission reduction target, using self-set principles to assess against the Paris Agreement Crediting Mechanism (PACM) and other quality benchmarks, two non-profits said this week.
Read MoreBRIEFING: UN adopting ICJ opinion boost for Paris Agreement, international climate treaties
Last week’s UN General Assembly vote to adopt a resolution endorsing the International Court of Justice’s (ICJ) advisory opinion on states obligations on climate change is a boost for multilateralism and international climate frameworks, including the Paris Agreement, experts told Carbon Pulse.
Read MorePCF26: FEATURE – 25 years on, Cordillera Azul epitomises struggle to balance conservation, carbon market protocols, and Indigenous rights
The non-profit in charge of Peru’s 25-year-old Cordillera Azul National Park (PNCAZ) turned to carbon finance over a decade ago to sustain its operations, creating a REDD+ mega-project – but following a turbulent few years beset with baseline challenges, methodology questions, and litigation surrounding free, prior, and informed consent (FPIC) from Indigenous communities, it is mulling its next steps.
Read MoreINTERVIEW: Smaller carbon standards may be a better fit – and yield higher project value
Carbon buyers should assess projects based on quality, local fit, and delivery timelines rather than defaulting to dominant registries, a senior representative at a Colombian nature-based project developer told Carbon Pulse.
Read MorePCF26: INTERVIEW – Latin American cookstoves developer plans Article 6 expansion
A clean cooking project developer operating in multiple Latin American countries has already obtained one Article 6 Letter of Authorisation (LoA) and is hoping to gain more, while keeping up with market trends toward high integrity, representatives told Carbon Pulse in Peru.
Read MoreINTERVIEW: Airline urges Asia to scale up CORSIA supply to keep climate finance in region
A major airline wants more Asian countries to authorise carbon credits for use under the aviation sector’s CORSIA scheme, saying the region risks losing out on billions of dollars in climate finance to other markets.
Read MoreFEATURE: How a legal mechanism used to obstruct climate policy is gaining strength
The rise in the number of cases brought by fossil fuel companies against governments, using Investor-State Dispute Settlement (ISDS), is stalling the energy transition and causing governments to hold back on more effective climate policy, despite growing awareness of the topic, say experts.
Read MoreFEATURE: Mounting pressure on net zero goals may force more flexible approach to target-setting, even as corporate interest surges
An emerging risk that many corporate net zero goals will not be met could push through greater pragmatism when outlining targets, as well as a more flexible approach across standard-setters, according to experts, even as the number of companies announcing science-aligned climate ambitions continues to grow.
Read MoreANALYSIS: States, industry groups urge SCOTUS to curb local climate liability suits against oil companies
A broad coalition including the US federal government, states, business groups, legal scholars, and tribal interests has urged the US Supreme Court (SCOTUS) to block a landmark climate damages lawsuit against two oil companies, arguing it would let local governments regulate GHG emissions through state tort law.
Read More