Bahamas unveils legislation for regulation of carbon trading
The Bahamas’ Prime Minister Philip Davis on Wednesday unveiled legislation to introduce regulation for carbon trading on the archipelago, including large fines and jail terms for any wrongdoing.
Read MoreINTERVIEW: World Bank to launch metadata project to clean up carbon market’s information problem
With information across global compliance and voluntary carbon markets fragmented and often confusing, the World Bank aims to cleanse the landscape by launching a free-to-access metadata layer that will link, aggregate, and harmonise underlying registry data to enable transparent accounting as per Article 6 of the Paris Agreement.
Read MoreCOMMENT: A fistful of offsets: How the (wild) west was won
Critics comparing the voluntary carbon market to the wild west are missing the point and risk undermining decades of progress on climate change, argues Renat Heuberger, CEO and co-founder of South Pole.
Read MoreVerra proposes new label for ‘best-in-class’ nature removal offsets
Offset standard manager and developer Verra on Thursday proposed a new carbon credit label for nature-based removal units that would signify greater attention paid to accurate emissions baselines and preventing leakage.
Read MoreCampaigners in tropical forested nations take aim at illegal logging
NGOs in eight heavily forested tropical countries on Monday launched a mapping system aiming to crack down on illegal logging as a low-cost alternative to REDD projects, as another nation has banned all timber exports and a further country has put a block on the voluntary carbon market.
Read MoreVitol, Nigerian sovereign wealth fund unveil carbon project joint venture
Commodities traders Vitol and the managers of Nigeria’s sovereign wealth fund have agreed to create a joint venture to invest in a series of carbon avoidance and removal projects.
Read MoreVCM Report: Nature credits extend multi-week slump amid lack of support
Standardised nature credits this week extended their slump to more than a month, as offsets continue to take cues from a weak macroeconomic picture and as traders see few signs of support in the near future.
Read MoreSwitzerland considering bid to host COP31 UN climate summit in 2026
Switzerland is considering submitting its candidacy to host the COP31 annual UN climate summit in 2026.
Read MoreVerra opens consultation on offset labelling ahead of ICVCM principles
Offset standard manager and developer Verra on Thursday proposed four new carbon crediting labels to meet the Integrity Council for Voluntary Carbon Markets’ (ICVCM) Core Carbon Principles due out later this year, including on project type, removals, and Paris Agreement compatibility.
Read MoreICROA to expand its accreditation beyond IETA members
Voluntary carbon market business association ICROA will be “soft launching” its accreditation programme for non-IETA members, aiming to maintain relevancy amid a swathe of new entrants.
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