COP24: Article 6 text slashed in half as UN talks begin in earnest
Negotiators substantially cut down the draft text of the Paris Agreement’s Article 6 concerning international emissions trading on Wednesday, though sources said much work remains over the next week-and-a-half of UN talks in Katowice.
Read MoreCOP24: ICAO dodges CORSIA offset decisions as EU aims to keep options open
UN aviation body ICAO has once again postponed decisions on eligible credits and cleaner fuels under its CORSIA global offsetting mechanism, miring it in further uncertainty as the EU takes steps to safeguard its ability to continue regulating flight emissions.
Read MoreCOP24: Developers, NGOs spar over future role of CDM
The continuation of the CDM and its CER credits when the Paris Agreement takes effect in 2021 has emerged as a major point of contention in the early days of the UN climate summit in Poland, as developers and NGOs remain widely split on the issue.
Read MoreCOP24: UN secretary-general details 2019 summit to raise climate ambition
The UN has identified six action areas with a high potential to drive GHG reductions and resilience as it encourages countries to bump up their Paris Agreement targets at a New York conference next September, Secretary-General Antonio Guterres announced on Tuesday.
Read MoreCOP24: More than 70 entities join German initiative to offset emissions
More than 70 German companies, governments, and NGOs have joined a voluntary initiative launched by the German government to buy carbon credits on their way to carbon neutrality.
Read MoreCOP24: Countries step up to host 2019 UN climate talks after Brazil withdraws
At least four Latin American and Caribbean countries have voiced interest in hosting next year’s UN climate summit after Brazil withdrew its offer.
Read MoreSouth African govt proposes painful penalties for emitters that exceed carbon budgets
Companies that exceed their emissions limits set under South Africa’s upcoming climate laws will be forced to pay a penalty of at least five times the country’s carbon tax.
Read MorePREVIEW – COP24: Nations aim to iron out Paris Agreement rulebook in Poland
Governments will converge in Katowice, Poland over the next two weeks to hammer out how to meet the goals of the 2015 Paris Agreement, but some countries are set to spurn calls for more urgent action.
Read MoreSouth African govt floats long-delayed CO2 tax bill in parliament, updates offset rules
South Africa’s finance minister on Tuesday introduced the government’s long-awaited carbon tax bill in the National Assembly, a week after the Treasury released updated draft offset regulations.
Read MoreOil firm Equinor vows to buy REDD units to offset international operations
Norway’s oil firm Equinor plans to buy REDD forest protection credits to offset its emissions from operations not already covered by carbon pricing as the company is set to ramp up its foreign exploration, its CEO said Tuesday.
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