ANALYSIS: Significant work remains following first Article 6.4 Supervisory Body meeting
The appointed body overseeing the UN’s new carbon crediting mechanism met for the first time last week to hammer out an agreement on several procedural elements crucial to advance Article 6.4, but left much to be done ahead of a targeted end-2023 timeline for trading to begin.
Read MoreVCM Report: Bear market continues as GEO price slumps close to CDM offsets
Voluntary carbon offset (VCM) prices slipped lower at the start of the week and then stabilised amid very thin liquidity with some standardised emissions reduction contracts trading only slightly above Clean Development Mechanism (CDM) credits, while nature-based credits continued to command a healthy premium.
Read MoreFEATURE: Huge looming REDD+ issuance sparks unease in voluntary carbon market
A massive REDD+ carbon credit issuance expected in the coming months has sparked unease from some experts that say the tens of millions of forest protection units are not fit for the voluntary market, while the willingness of buyers to support the efforts remains in the balance.
Read MoreUPDATE – UN body agrees crediting fee structure for new carbon market mechanism
The appointed body overseeing the UN’s new carbon crediting mechanism met for the first time this week, agreeing a fee structure and to meet again twice before November’s COP27 UN climate talks to keep pace with its aim of having the system ready by the end of 2023.
Read MoreIntegrity drive builds case for allowing VCM offsets into compliance markets
Improving the integrity of the voluntary carbon market (VCM) should open the door for offsets to be widely used in compliance markets, particularly for blue carbon and marine environments, a webinar heard Tuesday.
Read MoreVCM Report: Nearby core-carbon underpins floor in market as contango holds
The price of standardised spot carbon credits and those of near-dated vintages remained depressed in the voluntary carbon market (VCM) this week, but demand for later-dated nature vintages held up, reflecting resilience in the market’s contango that underpins a bullish outlook for offsets.
Read MoreANALYSIS: More than 100 mln sovereign forest credits set to reach VCM by autumn
Governments from tropical forest countries are poised to issue more than a hundred million sovereign carbon credits, which are slated to hit the voluntary carbon market (VCM) this autumn – adding significant weight to a forest credit inventory that historically derived from a scattering of smaller-scale projects.
Read MorePREVIEW: UN in race to re-establish grip on global carbon market
Officials meet later this month to craft a new UN carbon crediting mechanism, facing a race against time to attract capital and attention amid a fast-growing voluntary market while not repeating past mistakes.
Read MoreUN overseers to meet this month to ready global carbon market mechanism
The Supervisory Body of the UN’s new centralised market mechanism is due to meet later this month to set a path to getting the programme up-and-running by the end of next year.
Read MoreVCM Report: Buyers continue to shun carbon as energy prices soar
Demand across the voluntary carbon market remained weak as buyers continued to wait for greater macroeconomic certainty, with bids struggling to rise up to meet offers, causing most standardised verified emissions reduction credits to move sideways or to lose value over the week.
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