Voluntary carbon market size grows in 2022, but buyers await new standards
Voluntary carbon market (VCM) prices and volumes experienced a year-on-year increase in 2022, but buyers moderated purchases until final guidance on new standards emerges, according to analysis of an initial dataset of global trends in the sector.
Read MoreUAE project developers gear up for expansion pitch ahead of COP28
Months-old companies based in the United Arab Emirates (UAE) are aiming to bolster their own type of carbon crediting projects on the African continent, hoping to gain momentum for their initiatives as all eyes turn to their country’s role as the hosts of this year’s COP28 UN climate talks.
Read MoreIndia’s Article 6.2 listing can boost carbon markets, access to finance, but roadmaps now needed, analysts say
India’s publishing of a list of carbon credit activities that can be traded under Article 6.2 has been welcomed by local market observers as a further step in developing the country’s carbon market infrastructure with global links, while policy analysts posited that the Indian government could now outline specific roadmaps for each mitigation activity that was designated under the Paris Agreement provision.
Read MoreIndia publishes list of eligible Article 6.2 activities
Green hydrogen, sustainable aviation fuel, and CCUS are among 13 activity types that India has said will be eligible to generate credits that can be sold abroad under Article 6.2 of the Paris Agreement.
Read MoreSweden may allow subsidised bio-CCS removals for sale on voluntary carbon market
The Swedish Energy Agency has proposed that state-supported removals credits from bioenergy carbon capture and storage (bio-CCS) projects could be sold onto the voluntary carbon market (VCM), with the units counted towards achieving Sweden’s national climate goals.
Read MoreKenya looks to set out new carbon market framework by end of February
The Kenyan government is hoping to set out a new framework for its carbon market by the end of the month, a move that could include a percentage of carbon credit cash from voluntary projects going to national and district government budgets.
Read MoreUS govt funds initiative to support nations’ Article 6, CORSIA carbon trading strategies
The US Department of State is lending financial support to an effort that will help developing countries’ governments improve their national climate strategies under the Paris Agreement’s market-based Article 6 and separate CORSIA mechanism for international aviation through carbon trading.
Read MoreToyota seeks carbon credits from Saudi solar power plant
Japan’s Toyota Tsusho Corp. is investing in a 100MW solar power project in the Wadi ad-Dawasir region in southwestern Saudi Arabia that will generate carbon credits under the Joint Crediting Mechanism (JCM), and on Friday secured support from the government, which will co-fund the project development.
Read MoreUAE signs forest carbon agreements with two African nations
The United Arab Emirates on Tuesday signed deals with two separate African countries to develop forest conservation projects on the continent and earn carbon credits.
Read MoreUNDP, Switzerland defend rice farming methodology amid Verra decision to halt use
The UN’s Development Programme and Switzerland have defended the rice farming methodology behind the first authorised emissions transfer under the Paris Agreement, with a senior official emphasising key differences to the Verra protocol that was halted last week over integrity concerns.
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