PREVIEW: Observers welcome progress made on key texts ahead of crucial UN carbon market meeting
Stakeholders have welcomed the significant progress, notably on draft recommendations for removals, made by the UN body responsible for shaping the carbon crediting mechanism under Article 6 of the Paris Agreement ahead of a crunch meeting next week, while also highlighting the pressure of using the limited remaining time to finalise key aspects of the guidance, ahead of year-end negotiations at COP28.
Read MoreCarbon Pulse grows global news reporting team by almost 50% in biggest hiring push yet
FREE READ – Carbon Pulse has increased its global team of reporters by nearly 50% in its largest hiring push to date, as the company channels significant investment into further strengthening the world’s premier carbon markets news service.
Read MoreAFRICA CLIMATE SUMMIT: Leaders call for global carbon taxation regime following $23 bln of pledges
African leaders adopted the “Nairobi Declaration” as the curtain closed on the inaugural Africa Climate Summit in Kenya on Wednesday, calling for a tax on fossil fuels, aviation and maritime transport, and a reform of the world financial system that they said penalises African nations with excessively high interest rates.
Read MoreCOMMENT: Without removals, no net-zero economy
Instead of a Carbon Central Bank approach, a functioning, future-oriented carbon market can address the challenges of liquidity constraints and residual emissions as the EU ETS cap approaches zero, writes Marcus Ferdinand of Veyt.
Read MoreCAR says proposed China adipic acid offset protocol can overcome past environmental integrity concerns
Offset standard Climate Action Reserve (CAR) on Friday published its draft China adipic acid production protocol, arguing new design measures can safeguard against integrity concerns that resulted in the EU ETS forbidding the use of such carbon credits a decade ago.
Read MoreNations to consider Clean Development Mechanism future at Dubai climate summit, UN confirms
The future of the Kyoto-era Clean Development Mechanism (CDM) is to be discussed by governments at the upcoming COP28 climate summit in Dubai, a UN spokesperson told Carbon Pulse on Wednesday while confirming that it will still be possible to transfer and cancel CDM credits beyond a looming deadline, clearing up a point of confusion among stakeholders.
Read MoreBrazilian president’s ETS proposal foresees auctions, UN carbon trading interaction
A cap-and-trade programme devised by Brazilian President Luiz Inacio Lula da Silva’s administration will feature design elements such as auctions and price stability mechanisms, as well as automatically allow UN offsetting methodologies to generate compliance credits under the regime, according to a draft proposal seen by Carbon Pulse.
Read MoreANALYSIS: UN stance on CER use leaves stakeholders puzzled over implications for voluntary carbon market
Experts have expressed uncertainty over the future use of Certified Emission Reductions (CERs) in the voluntary carbon market in the wake of a UN statement suggesting transactions of the Kyoto-era units will only be possible for a few more weeks.
Read MoreINTERVIEW: Kenya should focus on tax-dodging, not special taxes and fees in revised climate law, says clean fuels distributor
Kenya should close loopholes that allow untaxed carbon revenue to be shifted outside of the country in its upcoming legislation while steering clear of imposing special taxes and fees on the domestic market, a climate-tech chief executive told Carbon Pulse on Monday.
Read MoreArticle 6 body opens another consultation on methodological guidance
The body responsible for shaping the UN carbon market under Article 6 of the Paris Agreement has opened another consultation on the methodological guidance under which projects may receive credits, focusing on baseline, additionality, and leakage assessment requirements.
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