Sub-national governments seen crucial to advance India’s Article 6.2 partnerships
Engaging India’s sub-national governments is crucial for navigating the practical realities of Article 6.2 partnerships in the country, a conference heard Wednesday.Â
Read MoreNew Zealand promotes APAC carbon market cooperation, remains silent on looming ITMO obligation
New Zealand’s climate minister has promoted the government’s efforts to build capacity and cooperation on carbon markets in the Asia Pacific, but said nothing regarding its likely need to purchase millions of overseas credits to meet its 2030 international climate target.
Read MoreEU officials promote CBAM stick to APAC, hints at future carrots of int’l credit purchases
EU officials on Wednesday soothed nerves about growing compliance costs and regulatory hurdles for Asian countries from its Carbon Border Adjustment Mechanism (CBAM) by highlighting plans to explore international credit purchase to meet its 2040 climate targets.
Read MoreCarbon credit markets need binding regulation to scale with integrity, report says
Project-based carbon credit markets are moving towards a more regulated, state-led model as voluntary standards remain unable to address weak oversight, fragmented rules, and uncertainty around credit use, a report published Wednesday said.
Read MoreIndia, Japan adopt rules under JCM, paving way for Article 6 projects
India and Japan have adopted the operational rules for their bilateral Joint Crediting Mechanism (JCM), making it India’s first live framework for trading carbon credits under Article 6.2 of the Paris Agreement.
Read MoreSB64: “At least” 14 more projects to receive host party approval by end of month -official
“At least” 14 additional projects, but hopefully more, will receive host party approval (HPA) to transition to Paris Agreement Crediting Mechanism (PACM) from the Clean Development Mechanism (CDM) by the deadline at the end of this month, a UN official said on Tuesday.
Read MoreANALYSIS: Kenya’s limit on ITMO sales highlights Article 6 supply constraints, and may force developers back onto VCM
Kenya’s recent announcement that it will limit Article 6 transfers to 10 million Internationally Transferred Mitigation Outcomes (ITMOs) between 2026 and 2030 surprised many market participants, particularly given the scale of the country’s existing carbon project pipeline, and may signal a fundamental shift for project developers relying on voluntary prices currently languishing in single-digit figures.
Read MoreItaly plans carbon market cooperation with Tanzania -local media
Italy is eyeing carbon market investments in Tanzania through Article 6.2 of the Paris Agreement, following a meeting between the two governments in Bonn, according to local media.
Read MoreQatari standard, institute sign MoU with UAE emirate to build carbon market capacity
A voluntary carbon standard, a research non-profit, and an emirate in the UAE have signed a Memorandum of Understanding (MoU) to foster carbon market engagement, including on the Paris Agreement’s Article 6, among other sustainable development objectives.
Read MoreArticle 6 implementation advances as bilateral cooperation, PACM continue to grow
Momentum behind the implementation of Article 6 of the Paris Agreement continues to build, according to the latest implementation status update from a partnership tracking the progress of UN carbon markets, with five new bilateral trade agreements inked in the past month.
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