COP29: UK looks to quickly bolster Article 6 trade with new principles for carbon credits
The UK is setting out six new principles for trading voluntary carbon and nature credits, building on the initiatives by the Integrity Council for the Voluntary Carbon Market (ICVCM) and seeking to quickly bolster international trade under Article 6 of the Paris Agreement.
Read MoreCOP29: Roundup for Day 4 – Nov. 14
It is Day 4 at COP29 in Baku – Finance Day. Negotiation chairs are expected to drop new draft texts on Article 6, after trimming the text on a New Collective Quantified Goal (NCQG) from 35 to 33 pages early this morning. Expect a flurry of events on what these difficult climate finance talks need to achieve for developing countries, as well as the role of carbon markets in all of it. 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: Madagascar uses cookstove project to test int’l carbon market legislation, a model which could be replicated, developer says
A voluntary cookstove project in Madagascar is working closely with the national government to act as a test case for its soon-to-be finalised carbon market legislation, which the developer says it is a model they would like to apply to other jurisdictions looking to participate in international crediting markets.
Read MoreCOP29: Trouble in paradise – After strong start, old conflicts on Article 6 come to the fore
After a solid start, talks on UN carbon markets in Baku at COP29 are heading back into deep water after a lengthy and heavily-bracketed first draft text concerning Article 6 was released, with reports of old conflicts that caused negotiations to collapse last year bubbling back up to the surface.
Read MoreCOP29: Ghana Article 6 activities mobilise $800 mln, says president
Ghana has mobilised $800 million by hosting carbon projects through Article 6.2 of the Paris Agreement, President Nana Akufo-Addo revealed at COP29, precipitating emissions cuts through bilateral agreements with primarily European buyer countries.
Read MoreCOP29: South Korea seeks Article 6 opportunities in blue carbon, forestry projects
South Korea is seeking to expand international partnerships on blue carbon and forestry projects, as part of its efforts to secure credits aligned with Article 6 of the Paris Agreement.
Read MoreCOP29: World Bank’s MIGA unveils Article 6 letter template to scale carbon markets
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank, on Thursday launched a letter of authorisation (LoA) template designed to help drive efficiencies in Article 6 carbon markets.
Read MoreCOP29: Roundup for Day 3 – Nov. 13
It is Day 3 at COP29, the second day of the World Leaders Summit. Parties are beginning to solidify positions on the new climate finance goal, expected to be the headline outcome of this year’s UN climate event, though conflicts are also bubbling linked to the wider, tense political and diplomatic context. 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: Brazil second country to submit new NDC round, aims to cut emissions by two-thirds
Brazil submitted its nationally determined contribution (NDC) plan that entails reducing emission by up to two-thirds to the UNFCCC at COP29 on Wednesday, but observers cautioned that the country needs to take steps to ensure its ambitions are met.
Read MoreCOP29: Carbon market infrastructure will need ‘step-up’ before Article 6 scales, rating agency founder says
There still needs to be a major overhaul of registry infrastructure before trading at scale under Article 6 will begin, according to the founder and CEO of a carbon project rating agency.
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