VCM should brace for mass changes on carbon credit credibility -experts
Experts at Sylvera’s carbon market summit on Thursday said that huge changes are coming to the voluntary carbon market (VCM) over the coming months as private and public initiatives shore up guidance to address credibility concerns.
Read MoreCoal recovery hobbles renewable energy efforts to cut global emissions -BP
A comeback in coal demand last year pushed global CO2 emissions from energy perilously close to 2019 levels, even though there was a surge in renewable power and economies were still battered by the Covid catastrophe, oil major BP said in its annual statistical review on Tuesday.
Read MoreUN COP28 climate talks to be held at Expo City Dubai
The UAE said on Wednesday it will host the 2023 UN climate talks at its state-of-the-art Expo City in Dubai – the second straight Middle East destination after this year’s Egypt conference – with the Gulf nation aiming to boost its climate credentials by showcasing its clean energy initiatives.
Read MoreFormer Canadian mining firm seeks new life as carbon project developer
A Canadian former mining company is pivoting into the carbon credit space, with three nature-based projects in the developing world in the early stages of design.
Read MoreSeveral nations signal they will update Paris emissions pledges this year
Several big-emitting nations signalled their intent to revise their Paris Agreement emissions pledges over the weekend, a move that could bring the pact’s temperature limit goals within closer reach.
Read MoreUN negotiators appoint supervisors for global carbon market mechanism
The UN’s new centralised market mechanism has confirmed appointments to its Supervisory Body, unlocking the opportunity to get started on a heavy workload that will help set the rules of government-level emissions trade in the Paris Agreement era.
Read MoreWTO sets environmental precedent to raise hopes for climate fight
The World Trade Organization agreed on the first change to global trading rules for years on Friday, with an accord on fishing subsidies that gives a modest signal that nations can come together on global challenges even as climate issues drew scant focus.
Read MoreUN talks bring climate damage to the fore ahead of Egypt summit
Rich-to-poor payments for climate-related harm is set to be the focus of year-end UN climate negotiations, experts said on Thursday as interim talks wrapped in Bonn amid concerns over whether voluntary carbon market infrastructure should feature in a new global emissions trading regime.
Read MoreRace to Zero campaign tightens rules to help prevent greenwashing
The UN-backed Race to Zero campaign updated its criteria on Wednesday to ensure credible net zero targets from corporates and financial organisations, aiming to overcome greenwashing concerns while specifying requirements for carbon credit use and other elements.
Read MoreUN climate talks outline steps needed to advance global carbon markets
UN climate negotiations in Bonn have outlined several technical issues that need to be addressed to advance government-level emissions trade, including infrastructure to track trade, accounting practicalities, and other issues that also have implications for the voluntary carbon market (VCM).
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