Gulf countries could adopt dual buyer, seller role to optimise Article 6 strategy -report
Trade- and service-oriented members of the Gulf Cooperation Council (GCC) may benefit in the near term from a mixed buyer and seller strategy under Article 6 to achieve lowest-cost mitigation, according to a new report from a Riyadh-based think tank.
Read MoreCarbon markets face “mission creep” as COP32 implementation clock ticks
Carbon markets risk failing to reach their true potential because governments and industry groups have overloaded them with ideological and regulatory demands, said experts on Friday, warning that “mission creep” was undermining efforts to mobilise climate finance.
Read MoreTwo project developers awarded Singapore EDB grant for expansion
Two carbon project developers have been awarded support from Singapore’s Economic Development Board (EDB) through its Carbon Project Development Grant, they announced separately.
Read MoreINTERVIEW: Myanmar eyes carbon tax, looks to submit new NDC by year-end
Myanmar is designing its first carbon tax, focusing on the energy, agriculture, and steel sectors, and is looking to submit its updated Nationally Determined Contribution (NDC) by year-end, a Yangon-based VCM platform told Carbon Pulse.
Read MoreBASIC countries’ snub of CORSIA could slash effectiveness by a quarter, study warns
A growing standoff between major emerging economies and the UN aviation offsetting mechanism CORSIA could slash the scheme’s effectiveness by almost a quarter during its upcoming ‘mandatory’ phase, according to a new academic paper that warns equity concerns are threatening the future of the market.
Read MoreAustralia, Turkiye outline climate finance efforts in partnership through first COP31 joint presidency letter
Turkish COP31 President Designate Murat Kurum and Australian COP31 President of Negotiations Chris Bowen published their first joint open letter on Thursday, pledging to continue the work of previous climate summit presidencies, support the implementation of Nationally Determined Contributions (NDCs) and National Adaptation Plans, and expand climate finance globally.
Read MoreArticle 6 authority approves N2O carbon methodology
The UN body overseeing implementation of the Paris Agreement Crediting Mechanism (PACM) has approved a new methodology to reduce N2O emissions from nitric acid production.
Read MoreClimate finance continued to grow in 2024, mostly going to emission reductions -OECD
Developed countries increased their public and private finance for climate action for a third year in a row in 2024, with nearly two-thirds directed to emission reduction efforts, according to the OECD’s annual assessment, published Thursday.
Read MoreUK set to enshrine goal for 87% emissions cut by 2040 in law -media
The UK government is poised to set a legally binding goal to cut emissions by 87% by 2040, compared to 1990 levels, The Times reported on Thursday.
Read MoreCORSIA could run short of eligible offsets by 2028 under higher emissions scenarios -analysis
The aviation sector’s international carbon offsetting scheme could face a shortage of eligible credits by 2028 under medium- and high-emissions scenarios, according to analysts, even though only a small portion of expected demand is currently covered by explicit non-compliance penalties.
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