First PACM carbon credits still face quality risks despite tougher accounting rules, says rating agency
The first carbon credits approved for issuance under the Paris Agreement Crediting Mechanism (PACM) show that the UN’s new system is improving the quality of legacy Clean Development Mechanism (CDM) projects through more conservative carbon accounting, but significant project-level risks remain, according to a new analysis.
Read MoreMalawi eyes carbon markets to help fund its third climate plan
Malawi has highlighted carbon markets as one of the financing mechanisms it intends to use to implement a more ambitious third Nationally Determined Contribution (NDC), as the climate-vulnerable African nation seeks to bring in greater domestic and international support for emissions reductions.
Read MoreFEATURE: Shipowners face choppy but navigable seas from inclusion in UK ETS, say experts
The inclusion of domestic maritime emissions in the UK Emissions Trading System (ETS) from this month is expected to pose limited difficulties for most shipowners, who are already familiar with the EU’s carbon pricing regime, but it is also unlikely to significantly cut emissions, experts said.
Read MoreIndia should channel carbon market revenues into industrial decarbonisation, report says
India should establish two national funds financed by revenues generated from its Carbon Credit Trading Scheme (CCTS) to support industrial decarbonisation, a report said.
Read MoreAirlines must set stronger climate goals as current voluntary targets fall short, experts say
Airlines need to set more stringent near-term emissions reduction pathways and provide greater transparency on their transition plans under the voluntary Science Based Targets initiative (SBTi) in order to close the sector’s emissions gap, according to an academic report.
Read MoreCarbon pricing is key to cutting transport emissions in Central Asia, says ADB
Carbon pricing could play a central role in reducing rapidly rising transport emissions across Central Asia while creating new revenue streams to fund low-carbon infrastructure, according to a new report from the Asian Development Bank (ADB).
Read MoreGerman ruling party seeks looser EU carbon cap, aviation freeze in upcoming ETS reform
The German centre-right CDU/CSU wants to “significantly lower” the rate at which carbon allowances under the EU’s Emissions Trading System (ETS) are cut each year, introduce a limited amount of international carbon credits into the market, and resist extending the scheme to international flights departing the bloc, according to a preliminary draft position seen by Carbon Pulse.
Read MoreUzbekistan needs clearer Article 6 rules before scaling carbon trades, report finds
Uzbekistan has laid the groundwork for Article 6 carbon market participation, but still needs clearer rules on authorisation, corresponding adjustments, registry operations, and monitoring, reporting, and verification (MRV) before it can scale credible international carbon trades, according to a report.
Read MoreVietnam carrier urges first claim on domestic credits for sector
Vietnam Airlines has urged policymakers to prioritise allocating domestic carbon credits to the aviation sector as carriers prepare to meet international climate obligations, a domestic newspaper said.
Read MoreArticle 6 expert panel recommends two new methodologies for PACM crediting
Technical experts overseeing the Paris Agreement Crediting Mechanism (PACM) have recommended two draft methodologies for approval by the scheme’s Supervisory Body, while opening fresh consultations on key implementation tools.
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