COP29: Approval of Article 6 standards paves way for methodologies from mid-2025
Carbon crediting methodologies may now be approved from mid-2025 following Monday’s COP29 agreement on Article 6.4 standards, but technical details still need to be ironed out both in Baku and once the international market becomes operational, according to experts.
Read MoreCOP29: Roundup for Day 2 – Nov. 12
It is Day 2 at COP29, the start of the two-day World Leaders Summit. 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: Negotiators hail Article 6.4 deal, but campaigners say it’s a false solution
The COP29 summit’s speedy Article 6.4 agreement was met with polarising reactions on Tuesday, with advocacy groups lambasting it as a distraction from genuine climate action while UN negotiators hailed its potential to unlock up to $250 billion in private climate finance by 2030.
Read MoreCOP29: Indonesia rolls out standard arrangement for bilateral carbon trading
Indonesia on Tuesday launched a Mutual Recognition Arrangement (MRA) to formalise bilateral carbon trading, with Japan the first nation to sign up and others expected to follow.
Read MoreCOP29: Roundup for Day 1 – Nov. 11
It is Day 1 at COP29 as some 50,000 diplomats, observers, and other stakeholders descend on Baku, Azerbaijan. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT+4).
Read MoreVCM Report: Baku bump lifts spirits after Trump election, liquidity improves in Q4
News of the COP29 presidency securing an early Article 6 outcome during Monday’s opening plenary session lifted spirits in the voluntary market, which had been left uneasy by last week’s election of Donald Trump to the White House despite improving liquidity amid a typical fourth quarter pick-up.
Read MoreCOP29: Presidency secures early Article 6 outcome as parties approve carbon crediting standards
Azerbaijan’s COP29 presidency secured an early endorsement of key methodological standards under Article 6 during Monday’s opening plenary, driven to action by two years of failure at the annual UN climate summit to move forward on the Paris Agreement’s carbon crediting mechanism.
Read MoreCOP29: BRIEFING – Article 6.2 advice wants distinct registries with synced-up reporting
Initial recommendations for a joint Article 6.2 Crediting Protocol between Singapore, Verra, and Gold Standard advise synchronised, detailed reporting and credit traceability between UN, national, and private carbon registries – but avoid consolidation, giving each a distinct role.
Read MoreCOP29: Coal commission backs transition finance, Article 6 carbon credits for early plant closures
Carbon credits and transition finance are essential to accelerate coal plant closures in developing countries – especially in Asia where new projects are still being developed, according the Coal Transition Commission, which unveiled its first report during the COP29 climate summit in Baku.
Read MoreCOP29: UN regional centres helping to build global Article 6 capacity
UN Regional Collaboration Centres (RCCs) channelling funds from the Clean Development Mechanism (CDM) have played a key role in developing notable Article 6 and carbon pricing initiatives in the Global South, with ongoing projects expected to yield further concrete outcomes in the near and medium term.
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