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Shipowners urge creation of global R&D fund as report shows scale of zero-carbon fuel needed

Published 09:00 on November 11, 2020  /  Last updated at 11:29 on November 11, 2020  /  EMEA, EU ETS, International, Shipping  /  No Comments

The coming decade will be crucial for mobilising funds for zero-carbon shipping fuels, an industry report released Wednesday said, renewing calls for the creation of a $5 billion R&D fund to help the maritime sector decarbonise.

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Carney taskforce seeks exchange listings for “core” voluntary carbon offset contract

Published 10:49 on November 10, 2020  /  Last updated at 11:27 on November 11, 2020  /  International, Voluntary Market  /  No Comments

The global voluntary carbon market should be standardised to allow credits to list on exchanges via a “core” contract to help massively scale up and meet Paris Agreement climate goals, according to a draft consultation launched Tuesday by a private-sector taskforce steered by UN climate finance envoy Mark Carney.

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ANALYSIS: Biden election win presents numerous climate policy opportunities, though challenges loom

Published 23:50 on November 9, 2020  /  Last updated at 23:50 on November 9, 2020  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, Canada, Carbon Taxes, Climate Talks, EMEA, International, Kyoto Mechanisms, New Market Mechanisms, Other APAC, South & Central, US, Voluntary Market  /  No Comments

The projected presidential victory of Democratic nominee Joe Biden this weekend opens the door for the US government to take swift action on domestic and global climate policy during the first days of his administration, although a potentially divided Congress could stifle some of the progress necessary to achieve rapid and deep decarbonisation.  

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INTERVIEW: Carney-led voluntary CO2 market taskforce “barking up the wrong tree”, says South Pole boss

Published 22:00 on November 9, 2020  /  Last updated at 13:20 on November 10, 2020  /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, EU ETS, International, Kyoto Mechanisms, Mexico, Middle East, New Market Mechanisms, Other APAC, REDD, South & Central, Switzerland, US, Voluntary Market  /  No Comments

On the eve of the release of an expert report that could help revolutionise the “murky” global voluntary carbon market, the head of South Pole – one of the world’s biggest offset developers – says the authoring taskforce led by former Bank of England head Mark Carney is “barking up the wrong tree” and should be focused more on how to significantly raise prices than on creating benchmarks or improving transparency.

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UK to give companies three more years before requiring climate risk disclosures

Published 21:37 on November 9, 2020  /  Last updated at 22:05 on November 9, 2020  /  EMEA, International, Voluntary Market  /  No Comments

The UK plans to become the first major economy to require all listed companies and investors to disclose their climate risks, Finance Minister Rishi Sunak said on Monday, setting a deadline three years later than draft plans had outlined.

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Climate finance for developing countries rose 11% in 2018 but risks missing 2020 target

Published 17:38 on November 6, 2020  /  Last updated at 17:38 on November 6, 2020  /  Africa, Americas, Asia Pacific, EMEA, International, Middle East  /  No Comments

OECD nations mobilised in 2018 11% more on climate finance for developing countries, compared with the previous year, although reaching the $100 million objective set by 2020 is still uncertain.

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Hong Kong shipping firm strikes voluntary offset deal with CLP

Published 12:51 on November 6, 2020  /  Last updated at 12:51 on November 6, 2020  /  Asia Pacific, International, Other APAC, Shipping, Voluntary Market  /  No Comments

Hong Kong-based shipping firm Wah Kwong has agreed to buy an undisclosed amount of carbon credits from the territory’s biggest power company as part of a joint effort to “raise awareness of decarbonisation in the shipping industry”.

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India considering domestic carbon market, official tells industry

Published 11:41 on November 6, 2020  /  Last updated at 12:12 on November 6, 2020  /  Asia Pacific, International, New Market Mechanisms, Other APAC  /  No Comments

India is considering setting up a domestic GHG emissions trading scheme, a senior government official told industry leaders this week, while providing no further detail on what such a market might look like or when it could start.

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Wizz Air expects Q4 capacity drop as COVID resurgence reverses summer recovery

Published 11:48 on November 5, 2020  /  Last updated at 12:38 on November 5, 2020  /  Aviation/CORSIA, EMEA, EU ETS, International  /  No Comments

Hungarian carrier Wizz Air expects its passenger capacity to decline in Q4 due to a surge in coronavirus cases and new lockdown measures, undoing a Q3 recovery that saw its capacity reach 80%.

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MARCU MY WORDS: The importance of the Article 6 Guidelines to the success of the Paris Agreement

Published 22:46 on November 4, 2020  /  Last updated at 22:46 on November 4, 2020  /  Asia Pacific, Aviation/CORSIA, Climate Talks, Dialogue, International, Japan, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, Shipping, South Korea, Views, Voluntary Market  /  No Comments

The absence of the Article 6 Guidelines creates uncertainty for the accounting treatment of assets in the emerging carbon market under the Paris Agreement as well as for other related markets. The importance of the international accounting treatment cannot be overstated.

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