VCM Report: Carbon credit trade picks up as prices proliferate
Trade picked up in the voluntary carbon market last week as corporates looked to square end-of-year emission books, and some sellers ditched REDD credits at rock bottom prices.
Read MoreANALYSIS: Experts mull impact of potential forest carbon split under Article 6
Countries are already advancing plans to trade emissions reductions from forest carbon activities under Article 6.2 of the Paris Agreement, yet a decision on the eligibility of such initiatives under the Paris pact’s Article 6.4 centralised carbon crediting mechanism is not imminent, a potential misalignment that has experts at odds.
Read MoreKenya president calls for EU contribution to African carbon credit market
The EU can help Africa achieve its climate goals by raising its demand for carbon credits, Kenya’s president William Ruto told the European Parliament on Tuesday.
Read MoreANALYSIS: Observers welcome late agreement on Article 6 crediting, concerned by gaps
International carbon market stakeholders have broadly welcomed the last-minute adoption of recommendations for how the UN crediting mechanism under Article 6 of the Paris Agreement should operate, but also pointed to uncertainties that risk diluting ambition and noted the challenge of deferring many key decisions given the ambiguous nature of certain sections of the text.
Read MorePremature to allow soil carbon credits under UN’s CORSIA aviation offsetting scheme, green group argues
Allowing soil carbon credits to be surrendered during the initial phases of ICAO’s CORSIA scheme for international aviation would be premature due to the project type’s lack of MRV standards and a “realistic, defensible” baseline for estimating emissions, a US-based green group has claimed.
Read MoreArticle 6 body adopts inclusive carbon removals guidance, but pushes significant technical work to future
The UN body responsible for shaping the rules for carbon crediting under Article 6 of the Paris Agreement adopted its carbon removals recommendations on Friday, a day after agreeing wider methodological guidance, with the text described as “general” and “technology-neutral” by observers and leaving a significant amount of additional technical work for the future.
Read MoreCOP28: Record 70,000 attendees expected to descend on Dubai ‘circus in the desert’
FREE READ – Dubai will grow in population by the equivalent of a small city as a record number of delegates descend upon the desert metropolis later this month for this year’s COP28 climate summit.
Read MoreArticle 6 body unanimously agrees crediting methodology guidance in last-ditch talks before COP28
The UN body responsible for guiding which projects may be credited under Article 6 of the Paris Agreement has unanimously agreed to its methodology recommendations after two years of intense discussion, just in time to forward its guidance document to country negotiators at COP28.
Read MoreCorporates outline “cautious optimism” for jurisdictional forest carbon in 2024 outlook
Two large corporate carbon credit buyers expressed a broadly positive outlook for the development of jurisdictional REDD+ in spite of “a difficult year” for the forestry sector, in a webinar on Thursday, urging patience from the market.
Read MoreINTERVIEW: Meeting host country needs key to securing Article 6 carbon credit deals
Delivering on host country needs around foreign investment, job creation, and ensuring tangible impact will be key to achieving deals on the issuance of correspondingly adjusted carbon credits under Article 6 of the Paris Agreement, according to a carbon-financed energy utility that has already signed such an agreement with Rwanda.
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