VCM Report: Year-end rush sees 2023 carbon credit retirements top 2022 levels
Voluntary carbon credit retirements in 2023 exceeded the levels of a year earlier on major registries after a surge in activity in December.
Read MoreOver 1,000 CDM carbon projects apply for Article 6 transition
A total of 1,225 carbon activities registered under the Kyoto-era Clean Development Mechanism have taken the first steps towards transitioning to the Article 6.4 mechanism, according to UN data, as the deadline to apply expired at the end of 2023.
Read MoreANALYSIS – Blame Game: Parties point fingers in wake of UN carbon talks collapse, note acrimonious path ahead
In the wake of the breakdown in talks on key Article 6 texts at this month’s COP28 UN climate conference, some negotiators and observers have been quick to assign blame and many now struggle to see consensus forming ahead of next year’s summit, as bridges are seen to have been burned almost beyond repair between certain parties.
Read MoreBusiness leader lays blame for UN’s Article 6 talks collapse firmly with EU
The head of carbon trading business group IETA blames the EU for this week’s collapse of COP28 UN climate talks on Article 6 emissions trade, though expects such approaches to continue to develop apace within smaller groups of nations.
Read MoreVerra seeks views on new cookstoves carbon crediting methodology
Certifier Verra on Friday opened a consultation on a draft clean cookstoves methodology that enables carbon crediting from improved efficiency or switching fuels.
Read MoreVerra advances work on new rice farming carbon credit methodology following CDM controversy
Verra has initiated the development of a new Verified Carbon Standard (VCS) methodology to quantify greenhouse gas emissions from rice production systems, replacing the popular UN CDM protocol that prompted integrity concerns earlier this year.
Read MoreANALYSIS: UN Article 6 crediting faces “severe” credibility threat, parties to pivot towards voluntary carbon and bilateral trade
After COP28 talks ended in turmoil, UN carbon crediting under the Paris Agreement’s Article 6 provision is now not expected until 2026, with the way forward complicated by political divisions, attention may pivot towards the voluntary carbon market and scaling international trading arrangements.
Read MoreCOP28: Global Stocktake avoids fossil fuel phaseout language in historic final text
A final negotiating text on the first ever Global Stocktake (GST) of the Paris Agreement was agreed by countries at COP28 early Wednesday, urging a “transition away from fossil fuels in an equitable manner” but crucially avoiding the stronger ‘phaseout’ language seen in earlier versions.
Read MoreCOP28: Countries reject key Article 6 texts in a major setback for carbon markets under the Paris Agreement
Country negotiators have failed to adopt two key texts on carbon crediting methodologies and international trade on the final scheduled day of COP28, throwing the future of markets as a climate solution under the Paris Agreement into turmoil.
Read MoreCOP28: Organisations launch carbon data dashboard with integration from major registries
A Singapore-based initiative, which seeks to promote integrity and transparency of publicly available information in the carbon market, will incorporate data from four major carbon market standards into its public dashboard, the organisation announced at COP28.
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