South Korea proposes to cut 2030 emissions reductions target for industry, scale up carbon sequestration and international credit purchases
South Korea has proposed to lower its 2030 target for reducing greenhouse gas emissions in the industrial sector, while planning to expand its domestic carbon sequestration programme and purchase more credits from abroad under Article 6 of the Paris Agreement.
Read MoreParaguay lawmakers introduce carbon credit regulatory framework bill
A group of Paraguay senators has put forth legislation that would set up a national carbon offset registry and help track the transfer of credits abroad, with the country required to hold back a portion of these units to meet its own Paris Agreement target.
Read MoreUN seeks advice to fill gaps in work to design carbon crediting mechanism
The body responsible for determining which project types will be issued with UN-backed emissions credits under Article 6 of the Paris Agreement opened a call for inputs on Thursday, seeking outside help after struggling to reach consensus on topics such as permanence, additionality, and overall ambition.
Read MoreNew Zealand “wasting money” on 2030 ITMOs, analyst says
New Zealand should focus on cutting emissions at home rather than rely on international carbon credits to meet its 2030 NDC, a carbon analyst told a conference on Wednesday.
Read MoreIndonesia’s IDX to launch carbon exchange on national independence day, industry head says
Indonesia’s biggest stock exchange is targeting an August launch date for its carbon trading platform, and will feature four pilot projects to start off with, according to an industry leader.
Read MoreXpansiv to provide access to its environmental reference data to ease trade
Environmental markets platform Xpansiv said Friday it will open up its standardised reference data for public use to enable companies to identify and track environmental assets across their entire lifecycle.
Read MoreOfficials target Q4 for preparing key Article 6 methodological guidance
The body responsible for shaping which carbon projects will be issued credits under Article 6.4 of the Paris Agreement resumed work this week, providing clarity on procedural matters such as a work plan that targets final recommendations on methodologies including removals before COP28 in December.
Read MoreINTERVIEW: Changing labels – organisations start to shun ‘climate neutral’ claims in favour of contributions
A major European intermediary is warning companies against making ‘climate neutrality’ claims in favour of climate contributions, the clearest sign yet of a shift in voluntary carbon market practices in a bid avoid carbon credit purchases getting mired in concerns about double-claiming.
Read MoreSingapore adds ACR, ART TREES offset standards to basket of eligible credits for domestic market
Singapore has added ACR and ART TREES as its fourth and fifth global carbon offset standards to supply carbon credits that domestic companies can buy to count towards their carbon tax obligations.
Read MoreForestry credits must rise to $30-50 range to have real impact -UNEP
The market must value carbon credits from forestry projects in a range of $30-50/tonne to make conservation and restoration economically viable, a senior member of the UN Environment Programme told an event on Wednesday.
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