Insurers eye $1.3 billion opportunity in voluntary carbon market
The insurance sector should bolster its role in the growing voluntary carbon market, according to a recent report that estimates that the sector’s 2030 cut could be as high as $1.3 bln, as more market participants look to address risks associated with forest fires and other perils.
Read MoreAustralia to put restrictions on some on-farm offset methods, review eligible voluntary credits
Australia will restrict the amount of farm land that can be used for some types of offset projects if they are shown to have a negative impact on agricultural production and carry out a review of the types of carbon credits that can be used for voluntary purposes.
Read MoreVoluntary carbon market profiteering to be called out, says integrity council
Members of the governance body tasked with taking forward the work of the private sector Taskforce on Scaling Voluntary Carbon Markets said they will call out project developers, intermediaries, and other market actors that put profits before the climate.
Read MoreVCM Report: VER bull run continues as buyers get less picky
Voluntary emissions reduction (VER) values marched higher this week as voluntary carbon market (VCM) sources reported buyers were becoming less choosey about vintage and credit types amid the year-long surge in prices.
Read MoreFEATURE: Climate finance, not offsets, increasingly seen as a nature-based solution as critics persist
With nature-based credits valued at a growing price premium to other types of carbon offsets, scrutiny over the process is also on the rise, with even forest protection standards that are said to be raising the bar on quality finding criticism for lacking environmental integrity.
Read MoreUN aviation body rejects latest offsetter applicants under CORSIA
UN aviation body ICAO’s Council has rejected all three of this year’s applications for eligibility under its CORSIA carbon offsetting scheme, declining to add the land-based initiatives to the seven programmes approved to date to provide airlines with a supply of carbon credits.
Read MoreVCM Report: VER price hike slows near record levels amid post-COP lull
Voluntary emissions reduction (VER) prices edged to new heights in some standardised contracts this week, while others slipped back amid subdued holiday-interrupted trade following the COP26 UN climate talks earlier in the month.
Read MoreANALYSIS: Switzerland touts model for international emissions trade, voluntary market
Switzerland sealed its fifth and sixth bilateral crediting agreements on the sidelines of the Glasgow UN climate talks this month, touting the deals as a model of Paris Agreement-era emissions trade for countries as well as for companies in the voluntary carbon market.
Read MoreUN carbon mechanism to take up to 3 years to build, ‘leaning on’ CDM rules
The Paris Agreement’s newly-established carbon market mechanism could take as long as three years to take shape, according to experts assessing the UN’s pace after countries approved Article 6 rules governing future international carbon markets at the COP26 summit earlier this month.
Read MoreVCM Report: VERs ride COP26, crypto wave to new all-time highs
Voluntary emissions reduction (VER) values on the over-the-counter and exchange-traded markets extended their year-long bull run this week, with voluntary carbon market (VCM) participants citing optimistic outlooks following the COP26 UN climate summit and blockchain ventures in driving up prices.
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