CARBON FORWARD MIDDLE EAST: Gulf could enter ‘VCM 2.0’ with homegrown ODS projects
Ozone-depleting substance (ODS) refrigerant gas projects are scarce but on the rise in a voluntary carbon market (VCM) angling to prove its integrity, and they could gain a foothold in Gulf countries best known as buyers, according to the regional lead for a VCM standard speaking in Abu Dhabi.
Read MoreCARBON FORWARD MIDDLE EAST: Iraq steps up Article 6 push with project reviews, talk of ‘cooperative approaches’
The Iraqi government has in recent weeks deliberated on cooperative approaches, a source familiar with the matter said Friday – just weeks after the country announced it had begun reviewing carbon project proposals to take the Paris Agreement from theory to practice.
Read MoreCARBON FORWARD MIDDLE EAST: FEATURE – Compliance emissions pricing measures take root in the Gulf
Multiple gulf states have adopted domestic greenhouse gas (GHG) emissions pricing or reporting schemes over the past year, reflecting coordinated efforts to reduce the carbon intensity of their economies, market participants said at Carbon Forward Middle East in Abu Dhabi.
Read MoreInaugural $500-mln bond for climate action hugely oversubscribed
An inaugural bond for climate action has raised $500 million from largely EMEA-based investors in a round that was over six times oversubscribed.
Read MoreCARBON FORWARD MIDDLE EAST: Financial, data rules “key building blocks” for MENA carbon markets -exchange
Middle Eastern and North African (MENA) countries need clarity on asset classes and information security – not just environmental regulations – to attract investment in carbon markets, the director of a carbon credit exchange told Carbon Forward Middle East in Abu Dhabi on Thursday.
Read MoreCARBON FORWARD MIDDLE EAST: Voluntary carbon market faces fresh risk in light of “woke” label in US
A new political landscape for climate policy in the US, set to dominate following President-elect Donald Trump’s inauguration next week, could jeopardise the revival of the voluntary carbon market (VCM) in 2025, a conference heard Thursday.
Read MoreIETA, Abu Dhabi’s GCFC join forces to support carbon market development in MENA region
Carbon trading association IETA and Abu Dhabi’s Global Climate Finance Centre (GCFC) have formalised a strategic partnership to advance climate ambition and promote the development of market mechanisms across the Middle East and North Africa (MENA) region.
Read MoreCARBON FORWARD MIDDLE EAST: Arab League, voluntary carbon standard to sign Article 6 MoU -executive
The Arab League will next week sign a memorandum of understanding (MoU) with a voluntary carbon standard to build capacity for Paris Agreement carbon markets, an executive told Carbon Forward Middle East in Abu Dhabi on Thursday.
Read MoreIraq, UK sign cooperation deal on carbon markets, energy transition
Iraq signed a memorandum of understanding (MOU) with the British government on Tuesday that would support carbon market development, among other decarbonisation aims, according to the Iraqi Prime Minister’s Office.
Read MoreSaudi Arabia to create renewable energy-based carbon market
Saudi Arabia will soon establish a provisional carbon market that issues credits from renewable energy production, a senior official said on a live broadcast Saturday.
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