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Japan, South Korea oppose move to bring global shipping to EU carbon market

Published 17:30 on November 26, 2020  /  Last updated at 17:30 on November 26, 2020  /  Asia Pacific, EMEA, EU ETS, International, Japan, Shipping, South Korea  /  No Comments

Japan and South Korea has voiced concerns over EU plans to extend the scope of its ETS to include emissions from all voyages using the 27-nation bloc’s ports, which the European Commission is considering as part of its carbon market reform.

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Flood or drought: Details make the difference for transitioned CDM supply

Published 09:03 on November 26, 2020  /  Last updated at 09:03 on November 26, 2020  /  Climate Talks, International, Kyoto Mechanisms  /  No Comments

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.

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Bilateral deals, not talks, likely to shape Article 6 emissions trade rules –NZ minister

Published 08:38 on November 26, 2020  /  Last updated at 08:41 on November 26, 2020  /  Asia Pacific, Climate Talks, International, New Zealand  /  No Comments

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.

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UK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents

Published 22:55 on November 25, 2020  /  Last updated at 12:24 on November 26, 2020  /  Climate Talks, EMEA, EU ETS, International  /  No Comments

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.

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UK govt fines trio of grounded airlines over £130 mln for EU ETS breaches

Published 21:44 on November 25, 2020  /  Last updated at 00:15 on November 26, 2020  /  Aviation/CORSIA, Bavardage, EMEA, EU ETS, International  /  No Comments

The UK has levied more than £130 million in fines on three grounded airlines for not complying with their obligations under the EU carbon market.

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IATA launches aviation carbon credit exchange, announces first trade

Published 21:03 on November 25, 2020  /  Last updated at 23:18 on November 25, 2020  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, China's Offset Market, EMEA, International, New Market Mechanisms, South & Central, US, Voluntary Market  /  No Comments

Aircraft operators’ association IATA on Wednesday launched its Aviation Carbon Exchange (ACE) to facilitate trade in both CORSIA-eligible and voluntary offsets, also announcing the inaugural transaction on the platform.

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Averna acquisition of ClimateCare puts offset firm on “professional investment footing” ahead of market boom, says founder

Published 18:17 on November 25, 2020  /  Last updated at 18:26 on November 25, 2020  /  Africa, Americas, Asia Pacific, Bavardage, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, South & Central, Voluntary Market  /  No Comments

The recent acquisition by private equity firm Averna Capital of a majority stake in ClimateCare will help prepare the low-carbon project developer for massive growth in the global offset market, the company’s founder told Carbon Pulse.

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Russia submits slightly higher Paris pledge that still allows for vast emissions growth

Published 17:51 on November 25, 2020  /  Last updated at 17:58 on November 25, 2020  /  Climate Talks, EMEA, International  /  No Comments

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.

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US company launches personal carbon offset service from $10/tonne

Published 15:26 on November 25, 2020  /  Last updated at 15:50 on November 25, 2020  /  Africa, Americas, Asia Pacific, International, Other APAC, REDD, US, Voluntary Market  /  No Comments

A Colorado-based company announced a new service this week for consumers to buy voluntary carbon credits to offset their own emissions or those of others, with the initial product offerings coming from a handful of forestry projects.

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EU confirms strong warming effects of aviation beyond CO2, urges caution

Published 19:06 on November 24, 2020  /  Last updated at 22:02 on November 24, 2020  /  Aviation/CORSIA, EMEA, EU ETS, International  /  No Comments

The non-CO2 climate impacts from aviation are at least as important as those of CO2 alone, according to fresh analysis published by the European Commission on Tuesday, which has angered campaigners by recommending waiting years to take any action.

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