CDM 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.
Read MoreIceland agrees to buy 3.4 mln Kyoto emissions rights from Slovakia
Iceland has agreed to buy 3.4 million sovereign carbon units from Slovakia in order to fulfil its legally-binding obligations under the Kyoto Protocol’s second commitment period (2013-20).
Read MoreANALYSIS: Observers sceptical on readiness of Article 6 REDD+ buyers as nations prepare ground
Experts on the UNFCCC process have expressed scepticism that buyers are immediately lining up to buy Article 6-ready REDD+ results, which are expected to be offered to the market in the near future by at least three rainforest nations, though they suggested that there may significant future demand for such jurisdictional units if their use is fully established for transfer under the Paris Agreement.
Read MorePolicy frameworks across the globe not dealing with carbon removals adequately -campaign group
Policymakers around the world are getting it wrong on carbon removals and temporary carbon storage by placing them too high on the hierarchy of required climate action, campaigners warned in a pair of complementary reports on Monday.
Read MoreANALYSIS: Cloud of reputational risk continues to hang over voluntary carbon buyers
Negative media coverage continued to dominate discussions during a carbon conference in New York held this week, as stakeholders in the voluntary market reacted to fresh reports from a newspaper that has persistently criticised corporate credit use, with fears of reputational risk threatening to further depress buying activity.
Read MoreThree rainforest nations poised to offer tens of millions of sovereign carbon credits under Article 6
Three more forest-rich countries are set to imminently offer up tens of millions of sovereign REDD+ units under Article 6 of the Paris Agreement, with Suriname, the first to already have had such issuances verified, expecting to complete sales of its carbon credits to buyers in the coming months at a targeted price of at least $30/tonne.
Read MoreAustralia cancels 700 mln carbon credits to close Kyoto loophole
Australia announced on Friday it has cancelled its more than 700 million remaining Kyoto Protocol-era carbon credits to make sure no future government will be able to use them towards the country’s commitments under the Paris Agreement.
Read MoreUN body hails “quantum leap” in carbon mechanism discussions, but leaves methodologies guidance to go to the wire
The UN body responsible for guiding the Paris Agreement’s carbon crediting mechanism made significant progress at this week’s penultimate meeting, with observers noting they had never seen such consensus among the group, but ultimately failed to adopt final texts on methodological guidance after running out of time, leaving crunch discussions for the final meeting later this year.
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