UPDATE – Campaigners hone in on Chevron’s use of ‘junk’ offsets in latest critical report
Campaigners slammed Chevron’s use of “junk” carbon credits and “unviable” technologies in a report published on Wednesday, honing in on the oil major’s heavy use of units stemming from large hydropower dams while piggybacking on others’ criticism.
Read MoreAfrican minister calls for “integrity index” and ratings agency for global carbon markets
The environment minister of an African nation told an event Wednesday that the best way to utilise carbon markets to save rainforests would be to establish an “integrity index” overseen by a global ratings agency, which could address both sovereign and voluntary carbon needs.
Read MoreUN launches tender to buy 12k Gold Standard CERs
The UN has opened a tender to buy almost 12,000 Gold Standard CERs to offset some of the organisation’s emissions.
Read MoreG7 outlines carbon credit integrity principles in sign of push towards markets
G7 energy ministers outlined principles to underpin high-integrity carbon markets alongside a wider communique released following their meeting in Japan over the weekend, providing a signal of support towards mitigation actions which generate carbon credits.
Read MoreINTERVIEW: UN-issued carbon credits could emerge next year, says IETA boss
Carbon credits from the Paris Agreement’s Article 6.4 mechanism could be issued next year if the supervisory body and the secretariat of the UNFFCC get into gear, the President and CEO of the International Emissions Trading Association (IETA) told Carbon Pulse on Thursday.
Read MoreUN seeks advice to fill gaps in work to design carbon crediting mechanism
The body responsible for determining which project types will be issued with UN-backed emissions credits under Article 6 of the Paris Agreement opened a call for inputs on Thursday, seeking outside help after struggling to reach consensus on topics such as permanence, additionality, and overall ambition.
Read MoreOfficials target Q4 for preparing key Article 6 methodological guidance
The body responsible for shaping which carbon projects will be issued credits under Article 6.4 of the Paris Agreement resumed work this week, providing clarity on procedural matters such as a work plan that targets final recommendations on methodologies including removals before COP28 in December.
Read MoreIceland to buy carbon units to meet UN climate obligations
Iceland’s environment ministry has decided to buy carbon units to meet a shortfall to its legally-binding emissions target under the UN Kyoto Protocol, according to local media.
Read MoreSouth Africa looks to introduce trading component to carbon tax programme
The South African government is taking steps towards introducing a tradeable component to the country’s carbon tax regime.
Read MoreCOMMENT: Voluntary carbon markets – still broken but signs of a breakthrough?
Voluntary carbon markets have come under fire in recent weeks with questions raised of the merits of a range of projects across the world. While the headlines are of course disappointing and knock confidence in the sector as a whole, the greater scrutiny is welcomed to ensure carbon credits deliver the climate impact they are designed to offer and to provide sufficient return on capital to carbon-reducing projects to stimulate more such projects, writes Louis Redshaw of Redshaw Advisors.
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