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FEATURE: Climate finance, not offsets, increasingly seen as a nature-based solution as critics persist

Published 19:38 on December 3, 2021  /  Last updated at 19:38 on December 3, 2021  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, China, EMEA, EU ETS, International, Japan, Kyoto Mechanisms, Middle East, New Zealand, Other APAC, REDD, South & Central, South Korea, Switzerland, US  /  No Comments

With nature-based credits valued at a growing price premium to other types of carbon offsets, scrutiny over the process is also on the rise, with even forest protection standards that are said to be raising the bar on quality finding criticism for lacking environmental integrity.

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ANALYSIS: The carbon market’s uneasy relationship with crypto

Published 14:46 on December 3, 2021  /  Last updated at 14:46 on December 3, 2021  /  Americas, Asia Pacific, EMEA, International, New Market Mechanisms, REDD, Voluntary Market  /  No Comments

The sudden emergence of Klima DAO and increasing interest in the carbon market from the crypto community has created some excitement over the opportunities for climate finance, but is also generating concern over legal and environmental integrity issues.

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Uncertain legal nature of voluntary carbon credits holding back market -financial trade body

Published 21:55 on December 2, 2021  /  Last updated at 23:26 on December 2, 2021  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Mexico, Middle East, New Market Mechanisms, Other APAC, REDD, South & Central, US, Voluntary Market  /  No Comments

The fast-growing market for voluntary carbon credits would be bolstered by the further development of derivatives trading, but several key legal issues including the uncertain legal nature of offsets need to first be addressed, a major financial industry trade association has said.

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Australian investor signs deal with developer for African carbon offsets

Published 10:54 on December 2, 2021  /  Last updated at 10:54 on December 2, 2021  /  Africa, Asia Pacific, Australia, EMEA, International, Voluntary Market  /  No Comments

An Australian investor has signed a €10 million offtake deal that will secure it several hundred thousand voluntary carbon credits created from cookstove projects in East Africa over the next five years.

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ExxonMobil sets Scope 1 and 2 GHG emissions intensity targets for 2030

Published 07:02 on December 2, 2021  /  Last updated at 02:40 on December 3, 2021  /  Americas, International, US, Voluntary Market  /  No Comments

US oil and gas major ExxonMobil has for the first time set emissions targets for 2030, extending a commitment that it made last year to cut the emissions intensity of its operations by 2025.

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EU launches response to China’s Belt and Road, with green strings attached

Published 20:59 on December 1, 2021  /  Last updated at 20:59 on December 1, 2021  /  Climate Talks, EMEA, EU ETS, International  /  No Comments

The European Commission, EU member states and financial institutions on Wednesday teamed up to mobilise up to €300 billion towards foreign investments over the next five years, aiming to rival China’s Belt and Road Initiative (BRI) while championing the bloc’s green transition and digital priorities.

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ANALYSIS: Norway’s symbolic first step towards reining in its oil industry

Published 20:19 on December 1, 2021  /  Last updated at 20:55 on December 1, 2021  /  Carbon Taxes, EMEA, EU ETS, International  /  No Comments

Norway’s decision this week to deny oil exploration licences in virgin or little-explored areas in 2022 is seen by experts as a largely symbolic move that nonetheless reflects the mounting pressure on the major fossil fuel producer to curb its exported emissions.

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EU on track to emit double its 1.5C-aligned carbon budget, says veteran climate campaigner

Published 16:16 on December 1, 2021  /  Last updated at 18:01 on December 1, 2021  /  Climate Talks, EMEA, EU ETS, International  /  No Comments

The EU will emit double its 1.5C-aligned carbon budget under its current emissions targets, according to analysis by a veteran climate campaigner published on Wednesday that suggests the bloc will need to raise its ambition further.

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Crypto outfit sells single voluntary carbon credit for $70,000

Published 16:08 on December 1, 2021  /  Last updated at 12:07 on December 2, 2021  /  Asia Pacific, EMEA, International, Other APAC, REDD, Voluntary Market  /  No Comments

A UK-based crypto currency venture has sold a single carbon credit for $70,000 without stating where the unit came from, a price astronomically higher than what units fetch in the voluntary carbon market.

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Steel can go green by 2050 with $278 bln spend, report says

Published 09:16 on December 1, 2021  /  Last updated at 09:18 on December 1, 2021  /  Asia Pacific, Australia, China, International  /  No Comments

Steel can be produced with almost no carbon emissions by 2050 if $278 billion in investment to decarbonise the industry is made over the next three decades, a report released on Wednesday claimed.

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