Carbon markets falling far short of potential to support least developed countries, UN warns

Published 16:30 on November 4, 2024  /  Last updated at 13:54 on November 4, 2024  / /  Americas, Asia Pacific, Climate Talks, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, Voluntary

Carbon markets are fulfilling just a tiny fraction of their potential to shore up much-needed climate finance in the world’s 45 least developed countries, with credits issued from both the voluntary and UN-run schemes concentrated in just a few countries, according to a report published on Monday.

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LATAM Roundup: A big week for the Paris Agreement’s Article 6

Published 23:54 on October 14, 2024  /  Last updated at 23:54 on October 14, 2024  / /  Americas, Carbon Taxes, Climate Talks, EMEA, International, Kyoto Mechanisms, Paris Article 6, South & Central, Switzerland, Voluntary

The week ending Oct. 13, which saw the UN Supervisory Body (SBM) for Article 6.4 circumvent negotiators to help operationalise Paris carbon markets, also welcomed key Article 6 statements out of Chile, ranging from new projects to potential use cases for Paris Agreement credits.

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UN body skips over Paris negotiators in a bid to secure consensus on Article 6.4

Published 14:17 on October 10, 2024  /  Last updated at 11:06 on October 11, 2024  / and /  Africa, Americas, Asia Pacific, Climate Talks, EMEA, International, Kyoto Mechanisms, Nature-based, Paris Article 6, Voluntary

The UN body mandated to determine rules governing the Paris Agreement’s Article 6 opted early Thursday to bypass negotiators and bring its standards for carbon methodologies and removals into force – in a “risky” and “bold” move that was widely welcomed for its potential to drive agreement at next month’s COP29, despite concerns about its long-term implications.

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Article 6 body adopts sustainable development tool

Published 10:18 on October 7, 2024  /  Last updated at 10:18 on October 7, 2024  / /  Americas, Asia Pacific, EMEA, International, Kyoto Mechanisms, Paris Article 6

The body mandated to shape the UN’s Article 6.4 carbon crediting mechanism has adopted a sustainable development tool, as it also scrambles to ready guidance ahead of COP29 next month.

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BRIEFING: As ICVCM rejects key voluntary carbon methodologies, Dominican Republic pushes crediting renewables as sustainable development

Published 15:13 on August 8, 2024  /  Last updated at 15:13 on August 8, 2024  / /  Americas, Climate Talks, International, Kyoto Mechanisms, Paris Article 6, South & Central, Voluntary

While the Integrity Council for the Voluntary Carbon Market (ICVCM) rejected this week multiple renewable energy carbon crediting methodologies from its Core Carbon Principles (CCP) label, citing additionality concerns, the Dominican Republic (DR) is pushing forward on expansion plans for these projects in the frame of sustainable development.

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ICVCM ruling deals major blow to LATAM voluntary carbon credits

Published 19:36 on August 6, 2024  /  Last updated at 19:36 on August 6, 2024  / /  Americas, International, Kyoto Mechanisms, Mexico, Paris Article 6, South & Central, Voluntary

The Integrity Council for the Voluntary Carbon Market (ICVCM) barred several methodologies from its integrity stamp on Tuesday, rejecting a renewable energy methodology responsible for a substantial proportion of Latin American credit supply.

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VCM Report: SBTi uncertainty casts doubt over voluntary carbon market as N-GEO hits fresh low

Published 15:47 on August 5, 2024  /  Last updated at 15:47 on August 5, 2024  / /  Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Kyoto Mechanisms, Nature-based, Voluntary

Liquidity remained thin and participants cited an uncertain outlook for the voluntary carbon market in the wake of a series of ‘confusing’ technical documents published by the Science Based Targets initiative (SBTi) last week, which confirmed that a final decision on carbon credit use under the organisation’s corporate standard will take place at the end of 2025.

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FEATURE: Egypt’s Article 6 bet could cash in, but doubts remain around additionality

Published 17:52 on July 26, 2024  /  Last updated at 17:52 on July 26, 2024  / /  Africa, Aviation/CORSIA, Climate Talks, EMEA, International, Kyoto Mechanisms, Middle East, Paris Article 6, Voluntary

Egypt is slated to receive $6 billion in loans from the World Bank by 2027 contingent in part on meeting Article 6 carbon trading infrastructure milestones – but the North African country’s proclivity for renewables projects could compromise credible additionality.

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Slow progress at UN Article 6.4 carbon crediting meeting as summer lull sets in

Published 19:06 on July 18, 2024  /  Last updated at 19:06 on July 18, 2024  / /  Americas, Asia Pacific, EMEA, International, Kyoto Mechanisms, Paris Article 6

The UN body mandated to determine rules governing the Paris Agreement’s carbon crediting mechanism has inched closer to providing a basis text for discussion at COP29, in one of the last opportunities to finalise recommendations ahead of the summit in November.

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Chile to experience severe supply crunch of tax-eligible carbon offsets in 2024

Published 16:38 on July 17, 2024  /  Last updated at 16:38 on July 17, 2024  / /  Americas, Carbon Taxes, International, Kyoto Mechanisms, South & Central, Voluntary

The South American country, which as of 2023 accepts select carbon credits in lieu of payment of its $5 per tonne tax, will see minimal supply emerge in 2024 despite hopes that the mechanism would take off once liable entities had sufficient time to source offsets.

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