ANALYSIS: Voluntary carbon stakeholders react to SBTi pivot on offset use for corporate targets
A major announcement from the Science Based Targets initiative (SBTi) that now opens the door for offset use as part of validated corporate net zero targets has made waves in the voluntary carbon sector, with proponents of the decision lauding its demand implications for the market, and critics arguing that the move undermines the organisation’s role in the broader fight against climate change.
Read MoreGlobal carbon emissions trading revenues rise 17% to record $74 bln in 2023 -report
A total of more than $74 billion was raised from 36 carbon emissions trading systems last year, up from $63 bln the year before, with strong momentum building for new mechanisms in emerging economies, according to research published Wednesday.
Read MoreMalaysian govt to incorporate state’s carbon trading bill into federal law
The Malaysian federal government has agreed to integrate the state of Sarawak’s carbon trading bill as part of the federal law which will be presented before Parliament for approval, according to local media reports.
Read MoreCarbon markets could support CCS development, but more is needed -report
Carbon markets could support carbon capture and storage (CCS) work but hurdles remain, such as return on investment, buyer appetite, and incentivising the entire chain including transport, according to a report released this week.
Read MoreSingapore faces biggest share of Asia’s €1 bln EU ETS shipping burden -research
The inclusion of shipping in the EU ETS is likely to impose €1 billion in costs for the Asian shipping industry, with Singapore bound to take on around a third of that, according to research published Wednesday.
Read MoreStudy slams Taiwan’s biggest emitters for climate inaction
Taiwan’s biggest emitters are moving far too slowly on reducing their carbon emissions and shifting to renewable energy, risking imposing environmental costs to the tune of $20 billion on the economy while driving up electricity prices, according to a report released Wednesday.
Read MoreEXCLUSIVE: Cookstove project developers poke holes in study alleging rife over-crediting
A consortium of offset developers is hitting back at a recent analysis alleging pervasive over-crediting by cookstove projects within the voluntary carbon market (VCM), pointing to what it calls doubts about the study’s reliability, in an open letter seen exclusively by Carbon Pulse.
Read MoreSBTi poised to validate voluntary carbon credit use for corporate Scope 3 emissions goals
The Science Based Targets initiative (SBTi) has decided that voluntary carbon credits may be used to offset corporate Scope 3 emissions, the body said Tuesday, it what should provide a significant boost for offset demand.
Read MorePhilippines registry operator sets up partnership to pave way for green hydrogen ITMO trades
The operator of the Philippines’ national carbon registry has teamed up with a Brisbane-based company to promote green hydrogen solutions, as part of a strategy to encourage the creation and trading of Paris-aligned carbon credits.
Read MoreVCM Report: ICE CORSIA voluntary carbon futures strengthen further on thin trade as sources point to ‘panic’ buying
ICE’s CORSIA Phase 1-eligible (2024-26) voluntary carbon futures extended gains to reach a fresh record last week, on very low volume, with the price strength coming off the back of ‘panic’ buying given the supply uncertain outlook, according to sources.
Read More
