SB64: EU hopes CORSIA will use PACM as guide to ensure Paris alignment, advisor says
The EU is hopeful that the UN’s CORSIA offsetting scheme for airlines will look at the Paris Agreement Crediting Mechanism’s (PACM) direction of travel and explore potential revisions, a policy advisor to the European Commission said Friday, as aviation stakeholders await a decision on whether the bloc will expand its ETS to cover extra-European flights.
Read MorePACM could scale carbon crediting beyond projects, but rule gaps remain -report
The Paris Agreement Crediting Mechanism (PACM) could help carbon markets move beyond individual projects and deliver mitigation at scale, but regulators still need to close key methodological, governance, and demand gaps, according to a report released Tuesday.
Read MoreINTERVIEW: War pushes carbon insurers to pause cover in parts of Middle East
Armed conflict and policy uncertainty are making parts of the international carbon market harder to insure just as the EU looks to lean more on overseas credits, according to Bilal Hussain, co-founder and CEO of carbon credit insurer Artio.
Read MoreSB64: South Korea seeks to accelerate implementation of Article 6.2 projects
South Korea is seeking to fast-track its bilateral partnerships under the Paris Agreement, with approvals for new GHG reduction projects expected in the coming months.
Read MoreEU ETS could need carbon removals “safety valve” to avoid price surge if CCS, hydrogen rollout falters -report
The EU may need to integrate CO2 removals into its emissions trading system as a “safety valve” to prevent allowance prices from spiralling if deployment of carbon capture and storage (CCS) and green hydrogen infrastructure continues to lag expectations, according to a new report.
Read MoreChile chooses contractor to develop national registry, track Article 6 credits, compliance offsets
Chile has contracted a Sri Lanka-based technology provider to develop the country’s awaited unified national carbon registry to track domestic compliance units, carbon tax offsets, and Paris Agreement Article 6 credits.
Read MoreEU must ensure international carbon credit rules enable scale as well as integrity, say experts
Brussels must strike a balance between scale and integrity when it designs its international carbon credit purchasing framework, market stakeholders said this week, as the Commission digests the results of its recent consultation on the matter.
Read MoreSierra Leone advances first Paris transparency report as carbon market ambitions grow
Sierra Leone is preparing its first Biennial Transparency Report (BTR) under the Paris Agreement as it seeks to strengthen the institutional foundations underpinning its participation in international carbon markets, according to insurer Oka following a recent visit to the West African country.
Read MoreSB64: FEATURE – Article 6 observers alarmed as missing BTRs delay corresponding adjustment – but it’s sabotage to rush, experts say
Dozens of governments are running late with submitting their first round of biennial climate reports to the UN, raising concerns among Article 6 stakeholders who note that the UN carbon trading process hinges on their timeliness and accuracy.
Read MoreCarbon removal standard partners with London firm to expand pool of CORSIA insurance options
A carbon removal (CDR) standards body has teamed up with an established London firm in a bid to expand its pool of insurers eligible to underwrite risks associated with supplying the CORSIA aviation offsetting scheme, it announced on Thursday.
Read More