Trading house Trafigura to consider offsets to help meet its first GHG goal
Commodities trader Trafigura set its first emissions reduction target on Wednesday, aiming to cut its scope 1 and 2 emissions by at least 30% under 2020 levels by the end of its 2023 financial year.
Read MoreANALYSIS: Climate ambition gap following Paris NDC deadline leaves task to major emitters
Most countries have missed a year-end deadline to update and enhance their GHG reduction commitments as the Paris Agreement took effect on Jan. 1, putting more focus on the need for greater climate ambition from large emitters this year to help close the gap to achieving the pact’s temperature goals.
Read MoreART programme approves five Central and South American jurisdictional REDD concepts
The Architecture for REDD+ Transactions (ART) on Thursday announced it has approved the first five submissions for jurisdictional deforestation reduction programmes that may generate carbon credits for use in international emissions trade.
Read MoreBRIEFING: Portugal vows to conclude EU Climate Law in its six-month presidency
The European Climate Law, industrial policy, and green shipping are three priorities of the six-month Portuguese EU Council presidency that took over on Jan. 1, putting the bloc’s climate files high on the agenda.
Read MoreBRIEFING: International emissions trading pilots see fourfold funding gain ahead of Paris rulebook
Governments have committed $1.37 billion towards international emissions trading pilot programmes to help meet Paris Agreement goals, according to a report that charts a fourfold rise in finance inside 18 months.
Read MoreEuropean HFC prices tumble since 2018, but smuggling seen a factor -EU Commission
Prices for HFCs in the EU have tumbled from their 2018 peak amid a rise in less potent and more climate-friendly alternatives, though part of the reason for this is also likely to be more illegal imports of the greenhouse gas into the bloc.
Read MoreCheap units from emerging nations dominate voluntary offset supply, survey shows
Low-cost offsets from emerging or developed nations dominated voluntary carbon market supply in 2019, while market participants fear efforts to standardise pricing will make premiums even harder to achieve for high quality activities, according to a report published Friday.
Read MoreWorld needs to cut CO2 intensity five times faster to hit 1.5C Paris goal -report
An annual decarbonisation rate of 11.7% is now needed to keep global warming below 1.5C, representing more than five times the 2.4% reduction level reached before the pandemic, according to a report published on Friday.
Read MoreGreen group EDF sees legitimate role for international offsets
International offsets can make a legitimate contribution to voluntary climate action, according to green group EDF, which set out key principles on Thursday that contrast with other campaigner calls to end the practise in an increasingly uncertain sector.
Read MorePresident-elect Biden to tap North Carolina regulator to lead US EPA -reports
US President-elect Joe Biden is expected to nominate North Carolina environmental regulator Michael Regan to led the EPA, Reuters reported Thursday.
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