Greece, EU unveil ETS-funded multi-billion-euro investment vehicle to decarbonise country’s islands
Greece has unveiled an multi-billion-euro investment vehicle with the EU to decarbonise its islands’ energy sources, raising funding in part from the sale of 25 million carbon allowances.
Read MoreCOP29: A tale of two registries – Article 6 negotiators head towards crunch in bid to force through carbon markets outcome
Countries may be on the cusp of finalising a deal on Article 6 at COP29, with negotiators and observers each signalling that talks on international carbon markets were close to consensus after parties appear to have carved out a compromise on the thorny registries issue, though the latest draft outcomes could also ignite old divisions.
Read MoreDATA DIVE: The carbon projects poised to profit if Article 6 gets over the line in Baku
With hopes of a breakthrough on Article 6 remaining high as COP29 races towards its conclusion, data from first-moving countries and projects reveals a market poised to make full use of Article 6 carbon trading once market dynamics are fully operationalised.
Read MoreCOP29: CDM negotiations a mess as Article 6 forwarded to second week
The SBSTA UN advisory body has laid out final exit protocols for the Kyoto-era Clean Development Mechanism (CDM), predecessor to the Paris Agreement Crediting Mechanism (PACM), at COP29 in a draft text.
Read MoreCOP29: Trouble in paradise – After strong start, old conflicts on Article 6 come to the fore
After a solid start, talks on UN carbon markets in Baku at COP29 are heading back into deep water after a lengthy and heavily-bracketed first draft text concerning Article 6 was released, with reports of old conflicts that caused negotiations to collapse last year bubbling back up to the surface.
Read MoreCOP29: Presidency secures early Article 6 outcome as parties approve carbon crediting standards
Azerbaijan’s COP29 presidency secured an early endorsement of key methodological standards under Article 6 during Monday’s opening plenary, driven to action by two years of failure at the annual UN climate summit to move forward on the Paris Agreement’s carbon crediting mechanism.
Read MoreCOP29: UN regional centres helping to build global Article 6 capacity
UN Regional Collaboration Centres (RCCs) channelling funds from the Clean Development Mechanism (CDM) have played a key role in developing notable Article 6 and carbon pricing initiatives in the Global South, with ongoing projects expected to yield further concrete outcomes in the near and medium term.
Read MoreCOP29: Azerbaijan to push for early Article 6 outcome, faces resistance
The COP29 presidency is pushing for an early endorsement of key carbon crediting standards under Article 6, Carbon Pulse has learned, though is facing resistance from several countries.
Read MoreCarbon markets falling far short of potential to support least developed countries, UN warns
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.
Read MoreLATAM Roundup: A big week for the Paris Agreement’s Article 6
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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