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VCM Report: Damning reports on REDD+ crush prices as buyers retreat

Published 19:38 on January 23, 2023  /  Last updated at 19:39 on January 23, 2023  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, China, Mexico, Middle East, Nature-based, New Zealand, South Korea, Switzerland, US, Voluntary  /  No Comments

REDD+ avoided deforestation credit prices continued to sink over the past week in the wake of damning reports published in national newspapers about widespread over-crediting in the sector.

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Climate fintech firm Aspiration becomes foundational investor in nature-based restoration project developer Compassionate Carbon

Published 01:20 on January 21, 2023  /  Last updated at 01:22 on January 21, 2023  /  Africa, Americas, EMEA, Middle East, Nature-based, US, Voluntary  /  No Comments

California-headquartered climate fintech firm Aspiration has become a foundational investor in nature-based restoration project developer Compassionate Carbon, with the two partnering to build several “innovative” initiatives.

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Two major airlines eye multi-year carbon credit agreements

Published 12:27 on January 19, 2023  /  Last updated at 12:27 on January 19, 2023  /  Africa, Americas, Asia Pacific, Aviation/CORSIA, EMEA, International, Middle East, Nature-based, Other APAC, South & Central, US, Voluntary  /  No Comments

Two major airlines are eyeing multi-year agreements to acquire carbon credits, potentially bucking an industry trend that has seen several carriers recently shy away from offsets as a decarbonisation solution.

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UAE envoy dismisses concerns over oil links, warns on COP global stocktake

Published 20:24 on January 18, 2023  /  Last updated at 20:24 on January 18, 2023  /  Climate Talks, EMEA, International, Middle East, Voluntary  /  No Comments

The UAE’s climate envoy on Wednesday shrugged off conflict-of-interest concerns about the nation appointing its state oil firm boss as head of upcoming COP UN climate negotiations, while warning that the global stocktake due at the meeting will likely show the planet off-track on global warming goals.

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ADNOC signs CO2 mineralisation, low-carbon ammonia deals

Published 07:28 on January 18, 2023  /  Last updated at 16:48 on January 18, 2023  /  EMEA, Middle East  /  No Comments

The United Arab Emirates (UAE)’s Abu Dhabi National Oil Company (ADNOC) has signed two deals, one involving a pilot project to mineralise CO2 in rock formations, and the other to create new markets for hydrogen and promote global clean energy value chains, at Abu Dhabi Sustainability Week, the Gulf state’s national oil company announced on Tuesday.

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ACX to explore recycled plastics marketplace in deal with Singapore, UAE partners

Published 09:21 on January 17, 2023  /  Last updated at 09:34 on January 17, 2023  /  Asia Pacific, Middle East, Other APAC, Voluntary  /  No Comments

AirCarbon Exchange (ACX) has signed a Memorandum of Understanding (MoU) with two companies to identify net zero carbon and recycled plastics opportunities in the Middle East and around the world, the Singapore-based carbon exchange announced on Tuesday.

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Climate talks’ host UAE bolsters green hydrogen ties with Netherlands, UK

Published 17:51 on January 13, 2023  /  Last updated at 17:51 on January 13, 2023  /  Climate Talks, EMEA, Middle East  /  No Comments

The United Arab Emirates on Friday made plans to advance its green hydrogen cooperation with the the Netherlands and the UK, adding to a pact stuck with Germany by this year’s UN climate talks host and furthering its ambition to becoming a major exporter of the fuel.

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UAE oil company earmarks $15 bln to reduce carbon footprint

Published 15:33 on January 5, 2023  /  Last updated at 15:33 on January 5, 2023  /  EMEA, Middle East  /  No Comments

The Abu Dhabi National Oil Company (ADNOC), which bought a 24.9% stake in Austrian oil refining group OMV in December, has earmarked $15 bln for decarbonisation projects to help towards a goal of reducing carbon intensity by 25% by 2030.

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Turkey publishes solar and nuclear-focused 2035 energy plan, with 4 GW coal rise

Published 15:48 on January 3, 2023  /  Last updated at 15:48 on January 3, 2023  /  EMEA, Middle East  /  No Comments

Turkey’s ministry of energy has announced a national energy plan through 2035 as part of a 2053 net-zero target, focusing on ambitious solar expansion targets to meet expected strong energy demand growth, nuclear growth, as well as a 4 GW buildout of coal plants.

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UAE steps up green hydrogen plans with announcement of new solar-powered plant

Published 11:46 on December 23, 2022  /  Last updated at 11:47 on December 23, 2022  /  EMEA, Middle East  /  No Comments

The UAE has stepped up its hydrogen plans after Masdar, the country’s biggest renewable-energy firm, teamed up this week with Germany’s Uniper to build a new plant in the Middle East country.

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