Japan, South Korea oppose move to bring global shipping to EU carbon market
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.
Read MoreFlood or drought: Details make the difference for transitioned CDM supply
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.
Read MoreBilateral deals, not talks, likely to shape Article 6 emissions trade rules –NZ minister
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.
Read MoreUK opens consultation on post-Brexit ETS penalties, in another sign rousing carbon trade proponents
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.
Read MoreUK govt fines trio of grounded airlines over £130 mln for EU ETS breaches
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.
Read MoreIATA launches aviation carbon credit exchange, announces first trade
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.
Read MoreAverna acquisition of ClimateCare puts offset firm on “professional investment footing” ahead of market boom, says founder
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.
Read MoreRussia submits slightly higher Paris pledge that still allows for vast emissions growth
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.
Read MoreUS company launches personal carbon offset service from $10/tonne
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.
Read MoreEU confirms strong warming effects of aviation beyond CO2, urges caution
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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