Less than 4% of global GHGs covered by a sufficient carbon price to meet 2030 goals
Despite direct carbon price instruments covering almost one quarter of global greenhouse gas (GHG) emissions bringing in $84 billion in 2021, less than 4% are within a system with a sufficient price to meet Paris Agreement-aligned 2030 climate goals, a report from the World Bank said Tuesday.
Read MoreVCM demand bulge for carbon removals needs integrity pairing -report
There are no durable CO2 removal credits being offered from projects issuing carbon credits in 2021-22 on the voluntary carbon market (VCM), according to a report that assesses trends across the four largest offset registries, and also points out other challenges with carbon offset supply.
Read MoreNZ Market: NZUs drift sideways amid lacklustre response to ERP
The New Zealand Unit (NZU) spot price continued to float sideways on Friday, with the market giving the government’s Emission Reduction Plan released earlier in the week a relatively muted greeting, though some say the upcoming June auction could create prices movements off the back of an almost exhausted cost-containment reserve.
Read MoreCarbon project developers search for interim solution to CDM freeze
Developers with projects registered under the CDM are urging regulators to unfreeze post-2020 carbon credits to make them eligible for the voluntary and domestic carbon markets, aiming to keep revenues flowing ahead of the completion of a new carbon crediting mechanism under the Paris Agreement.
Read MoreOffset ratings service to integrate with a second credit marketplace
A carbon credit marketplace and a global ratings agency for the voluntary carbon market (VCM) have teamed up with the aim of providing customers greater confidence in the quality of the units they buy.
Read MoreNew Zealand forestry group warns targets at risk if exotic ban goes ahead
A New Zealand forestry group has argued that the country will be unable to meet net zero emissions by 2050 target if it removes exotic tree species from its ETS, based on figures in the government’s Emissions Reduction Plan.
Read MoreNZ releases long-term plan to cut emissions, but saves ETS cap adjustments for later
The New Zealand government released its economy-wide Emissions Reduction Plan on Monday, however it has conceded that the technology needed to cut emissions from one of its most polluting sectors – agriculture – is still some years away.
Read MoreCarbon Pulse hires its way to record reporter headcount, doubles article output
(FREE READ) – Carbon Pulse has further boosted its coverage of regional and global carbon markets after completing a hiring drive that allowed it to welcome another four talented journalists, giving the unrivalled news provider a record staff size and doubled story count.
Read MoreSurge in corporate target-setting not matched by delivery –SBTi
The Science Based Target initiative (SBTi) released its third annual progress report on Thursday, releasing the figures tied to the groundswell of companies that are committing and setting robust climate targets, while also pointing out a lack of reporting on actually delivering on those targets.
Read MoreANALYSIS: New Zealand agriculture fights to keep sector out of ETS
A New Zealand agricultural sector group has until the end of the month to submit an emissions pricing scheme proposal to the government, tailor made for the industry, in a bid to keep it out of the nation’s emissions trading scheme in 2025.
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