VCM Report: REDD prices splinter, corresponding adjustments create headache for first-phase CORSIA buying
Demand continued to diverge in the voluntary carbon market over the past week, with some corporates seeking cheap REDD avoided deforestation credits, while others eye ACR-certified units eligible for the first phase of the CORSIA international aviation offsetting scheme, which are expected to obtain corresponding adjustments.
Read MoreFEATURE: Voluntary carbon market mulls future ahead of crunch Article 6 crediting talks
As observers hope for clarity about crediting carbon projects under Article 6 of the Paris Agreement at the fast-approaching COP28 climate talks, key players in voluntary carbon are weighing up how the embattled market may fit alongside the UN mechanism.
Read MoreUN floats new way to calculate cookstove project emissions cuts, receives criticism
UN-backed research to calculate emissions reductions from cookstove carbon projects has been put out for consultation as part of global efforts to address over-crediting concerns, though the work seems to have angered some government authorities and experts.
Read MoreZambia advances on international carbon trading with strengthened Article 6 framework
Zambia has established the eligibility criteria and the approval process for carbon projects under a strengthened guidelines for Article 6, providing a roadmap for the country’s participation in international carbon markets that aims to give investors more clarity for development in the country.
Read MoreCARBON FORWARD 2023: UK to seek simplicity, transparency, and environmental integrity of Article 6 at COP28, outlines position on key technical areas
The UK will focus on bringing “simplicity, transparency, and high environmental integrity” to Article 6 international emissions trade at COP28 UN negotiations, officials said on Wednesday, while reaffirming that the country does not intend to use international credits to meet its 2030 nationally determined contribution (NDC).
Read MoreCARBON FORWARD 2023: Pakistan developing Article 6 framework for int’l carbon trade, planning domestic market
Pakistan is working to build a framework for how it will approach Article 6 international emissions trade and is in talks with several parties around bilateral agreements, according to a government official, while also working on sectoral targets as part of its nationally determined contributions (NDCs).
Read MoreCARBON FORWARD 2023: UN Article 6 body “confident but apprehensive” on methodology progress at COP28
The head of the body guiding which carbon cutting projects will be credited under Article 6 of the Paris Agreement is confident that finalised recommendations would not be rejected by countries during negotiations at COP28, but remains apprehensive on their reaction to the soon-to-be finalised document, she told the Carbon Forward conference on Wednesday.
Read MoreCDM board approves Chinese firm’s renewable hydrogen crediting methodology
The Executive Board of the United Nations Clean Development Mechanism (CDM) has approved a hydrogen baseline and monitoring carbon crediting methodology proposed by a Chinese hydrogen company and the country’s biggest state-owned wind power producer and main carbon exchange.
Read MoreSaudi Arabia to launch domestic ‘Article 6-aligned’ carbon crediting system in 2024
Saudi Arabia will formally launch a carbon crediting scheme early next year that will allow corporates to offset emissions by buying units compliant with Article 6 of the Paris Agreement, the energy minister confirmed at a UN summit Monday.
Read MoreNew Zealand cancels 21.5 mln Kyoto credits
New Zealand has cancelled 21.5 million carbon credits left over from international Kyoto protocol markets, the government announced.
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