ANALYSIS: Smaller green shipping deals bode well for global agreement
As nations squabble at the UN’s maritime agency (IMO) over a headline global climate target for shipping, governments are doing better at making smaller-scale arrangements that cut across historic rich-poor divides and are widely seen as essential for decarbonising the sector.
Read MoreSouth Pole pausing offset sales from flagship REDD+ project amid baseline revalidation, media scrutiny
Carbon credit developer and intermediary South Pole will not immediately sell recent-vintage offsets from a major African REDD+ project as the firm reassesses the initiative’s emissions baseline, the company said Friday after an investigative report argued the undertaking over-credited tens of millions of voluntary emissions reductions throughout the past decade.
Read MoreGreen steel firm announces $120 mln financing led by EU heavyweight
A US-based green steel firm has secured $120 million of Series C fundraising led by EU-based multinational steelmaker ArcelorMittal, it announced on Friday, with tech giant Microsoft also involved.
Read MoreRatings agency urges UN to learn “lessons” from voluntary carbon market for Article 6 crediting
The co-founder of a carbon credit ratings agency on Thursday urged the UN to ensure that the “lessons of the voluntary carbon market” are applied to the issuance of credits under the Paris Agreement’s Article 6, referring to recent media allegations of over-crediting in REDD+ projects.
Read MoreANALYSIS: Avoidance versus removals debate reignites amid REDD over-crediting concerns
Concerns about over-crediting of REDD+ forest conservation projects have rekindled debate on whether carbon removals are preferable to carbon avoidance, though the differences are not always clear.
Read MoreRating agency leans into CDR technologies as market gears up to boom
A carbon credit rating agency has created a scalability assessment for carbon dioxide removal (CDR) technologies, as the voluntary market tilts further towards projects that remove rather than avoid CO2 emissions.
Read MoreJapanese corporates sign multiple CCS supply chain deals amid calls for greater policy support
Several Japanese companies announced collaborations on Thursday to sign a total of four agreements to develop CCS value chains in both Japan and the broader Asia-Pacific region, as momentum builds for carbon capture and storage to play a more integral role in meeting the decarbonisation goals of the country’s large industrial emitters.
Read MoreCOMMENT: Tropical forest conservation is tricky to measure, but we’re running out of time
Recent claims around the effectiveness of rainforest carbon credits are being hotly debated right now. And rightly so. Companies have reportedly paid over $1 billion for these credits, and they are being used to offset ‘real’ emissions. So, if they’re not genuine, that’s a massive problem for climate action, warns Edward Mitchard of mapping provider Space Intelligence.
Read MoreUS, European industrial firms failing to implement net zero strategies -survey
Most businesses have failed to take practical steps to implement their net-zero strategies, according to a survey published Wednesday that found nearly half of respondents had cited a reliance on carbon offsets to meet their climate goals.
Read MoreEU seen as even less likely to consider offset use amid integrity concerns
The already-slim chances of the EU using international credits for compliance in the bloc’s carbon market have been even further damaged by recent reports of widespread over-crediting of avoided deforestation projects in the voluntary carbon market (VCM), a webinar heard Wednesday.
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