Oil majors to make $3,000 a second in 2026 as families face energy squeeze -Oxfam
Six of the world’s biggest oil and gas companies are projected to earn almost $3,000 every second in 2026 while households continue to struggle with energy costs worldwide, Oxfam warned on Monday, one day before the first global conference on transitioning away from fossil fuels.
Read MoreSouth Korea, Bolivia sign Article 6 deal
South Korea and Bolivia on Friday signed a memorandum of understanding (MoU) for cooperation on GHG reduction initiatives under Article 6 of the Paris Agreement, with landfill projects in the pipeline.
Read MoreUzbekistan methane project secures CORSIA label from Verra
A methane leakage reduction project in Uzbekistan has secured eligibility to supply carbon credits under the first phase of the UN’s CORSIA scheme, a project developer announced Friday.
Read MoreBRIEFING: Countries continue to flesh out details for global carbon price for shipping despite petrostate influence
Those countries working to progress a global climate framework for shipping have this week engaged specifically on how to collect and distribute the revenues generated by a carbon price, despite continued opposition from petrostates and the US.
Read MorePACM clean cooking methodology still needs work, as expert body recommends N2O crediting framework for adoption
The CLEAR methodology for cooking energy transitions remains under review by an expert methodological group working to advance the Paris Agreement Crediting Mechanism (PACM), while a framework covering N2O abatement has been put forward for adoption.
Read MoreSouth Korea, UN, GGGI launch initiative to align voluntary market with PACM, spur cross-border transactions
South Korea’s finance ministry, alongside the UNFCCC and the Global Green Growth Institute (GGGI), launched on Wednesday a carbon market initiative aimed at aligning voluntary markets globally with the Paris Agreement Crediting Mechanism (PACM).
Read MoreANALYSIS: CORSIA ‘standoff’ continues between supply and demand as uncertainty clouds market
Airlines are yet to deliver meaningful demand for CORSIA-eligible credits, despite repeated assurances of commitment, leaving a growing pipeline of eligible carbon credits in search of buyers and raising concerns among project developers, insurers, and analysts about the pace of investment.
Read MoreNigeria boosts CORSIA supply by almost 4 mln credits
Nigeria has boosted Phase 1 CORSIA supply by almost 4 four million credits, a developer said Thursday.
Read MorePACM method for crediting N2O abatement should include new plants to spur investment, stakeholders say
Stakeholders have urged the UN to allow for new nitric acid plants to generate carbon credits under a draft Article 6.4 methodology, as excluding greenfield facilities could undermine incentives to cut N2O emissions.
Read MorePhase 2 futures trade to give shape to CORSIA curve through 2030
The CORSIA futures curve now has shape out to the end of the decade after a single lot on the Dec-30 contract was bought on the ICE exchange.
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