COP29: IEA considers buying clean cooking carbon credits, Verra unsure on ambition level in UN methodology
The International Energy Agency (IEA) is interested in purchasing clean cooking carbon credits, a representative confirmed Monday at the COP29 climate summit, while a senior member at Verra said the voluntary standard remained in a wait-and-see stance for a new UN-backed methodology for the sector.
Read MoreCOP29: Roundup for Day 6 – Nov. 16
It is Day 6 at COP29 in Baku – Science Day. It’s the final day negotiators have with the texts before they’re handed over to the presidency and appointed ministers, although not much progress is expected on finance in the next 24 hours. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT+4).
Read MoreCOP29: BRIEFING – Pakistan launches carbon market regulations
The federal government of Pakistan unveiled its international carbon market regulations at COP29 in Baku on Saturday following two years of work, including fee structures for international credit transactions, and is expected to launch a national carbon registry by Q1 2025.
Read MoreCOP29: CDM negotiations a mess as Article 6 forwarded to second week
The SBSTA UN advisory body has laid out final exit protocols for the Kyoto-era Clean Development Mechanism (CDM), predecessor to the Paris Agreement Crediting Mechanism (PACM), at COP29 in a draft text.
Read MoreCOP29: INTERVIEW – Morocco readies Article 6 framework, expects ITMO offtakes in 2025
Morocco will launch and implement an Article 6 framework in the coming months, culminating in offtake agreements involving millions of Internationally Transferred Mitigation Outcomes (ITMOs), according to a government advisor speaking to Carbon Pulse on the sidelines of COP29 in Baku.
Read MoreCOP29: Roundup for Day 5 – Nov. 15
It is Day 5 at COP29 in Baku – Energy Day. After a messy Article 6 draft on trading rules was published on Thursday, with negotiators then demanded to work late to help slim down the 43 pages of text, signs of fatigue are setting in, just 48 hours before ministers arrive. On the energy front, the Azerbaijan presidency will announce a raft of pledges, and debate over the COP28 fossil fuels outcome is expected to be high on the agenda.
Read MoreCOP29: Back on track – New Article 6 text opens door to finalising trade rules in Baku
A new Article 6 text published Friday after a late night of work in Baku has put talks on finalising international carbon trade rules firmly back on track, according to sources close to the negotiations, following a nervy reaction to a chaotic, 43-page previous draft.
Read MoreCanadian carbon financier boosts Article 6-labelled credit inventory to 1.7 mln
Canada-based Base Carbon has an inventory of more than 1.7 million Article 6-authorised cookstove credits on its balance sheet, the company said in third quarter results.
Read MoreDATA DIVE: Too soon to draw conclusions on CORSIA carbon credit supply and demand
With four new standards approved to supply CORSIA compliance last month, and the aviation sector now well into its first phase, the voluntary carbon market is starting to make predictions around prospective supply and demand for the UN’s international aviation offsetting scheme – but it may be too soon to forecast what will be needed, and what will be available to buy.
Read MoreCOP29: BRIEFING – Global coal phaseout requires targeted finance and agreement on timelines, experts say
The coal transition requires targeted finance, with challenges in balancing investor expectations and supporting coal-dependent regions, experts said at COP29.
Read More