INTERVIEW: UNEP sees Article 6 supply wave building towards 2030
The first meaningful supply of carbon credits traded under the Paris Agreement’s Article 6 mechanism will only emerge closer to 2030, as countries build the accounting and regulatory infrastructure needed to authorise trades, according to two UNEP officials.
Read MoreBRIEFING: Optimism ahead of UN vote on landmark ICJ climate opinion
Environmental campaigners are optimistic that the UN General Assembly will vote on Wednesday to adopt a resolution to endorse last year’s historic International Court of Justice (ICJ) advisory opinion on climate change, which found that states have a legal obligation to cut GHG emissions.
Read MoreUNFCCC pilots Article 6 registries
The UN’s climate secretariat has launched test versions of registries to facilitate the transfer and trade of emissions reduction units under the Article 6 mechanisms, with a view to launching the final systems at the end of the year.
Read MoreCalifornia bill to protect carbon neutral claims tied to carbon credits fails to advance
A proposal to make it harder to sue companies over some “carbon neutral” claims based on voluntary carbon credits was effectively blocked in the California Assembly on Thursday.
Read MoreCanadian carbon developer narrows net loss in Q1 as CORSIA sales begin
A Canada-based carbon project financier reported a Q1 net loss on Friday that was lower from the previous three-month period while also disclosing first-quarter sales of CORSIA-eligible cookstove credits.
Read MoreUK reportedly halves Green Climate Fund contribution amid aid spending cuts
The UK has reportedly slashed its contribution to the UN’s flagship climate finance vehicle by more than £800 million, in a move likely to deepen concerns among developing nations that wealthy countries are retreating from commitments to support the global energy transition and climate adaptation efforts.
Read MoreLatin American province, airline negotiate sale of CORSIA-eligible units at $23/t -media
A province in South America expects it will soon be issued millions of CORSIA Eligible Emissions Units (EEUs) and is arranging to sell most or all of these to a regional airline at just over $23 per unit, local media has reported.
Read MoreOman launches new framework to convert emissions reduction targets into carbon credits
Oman has launched a new regulatory framework for carbon markets, through which it plans to convert its emissions reduction targets into verified and tradeable carbon credits, according to media reports.
Read MoreUN climate chief hails China as climate leader, urges it to speed Asia coal phaseout
UN climate chief Simon Stiell on Thursday lauded China as a global climate leader and called on Beijing to help its region in phasing out coal amid mounting energy security challenges.
Read MoreZimbabwe blasts CORSIA decision as “direct attack” on African climate ambitions
Zimbabwe is pushing back on a UN decision and subsequent move by Gold Standard to stop marking certain credits from the country as eligible for the aviation scheme CORSIA, calling it a “direct attack” on African development and climate goals.
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