COP29: 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.
Read MoreCOP29: Azerbaijan to push for early Article 6 outcome, faces resistance
The COP29 presidency is pushing for an early endorsement of key carbon crediting standards under Article 6, Carbon Pulse has learned, though is facing resistance from several countries.
Read MoreIndia’s climate policies predicted to reduce around 4 bln tonnes of CO2 by 2030
India’s current climate policies are already helping bend its long-term emissions curve and will contribute to the world’s third-biggest emitter reducing its GHG output by almost 4 billion tonnes of CO2e by the end of this decade, research published this week has found.
Read MoreCOP29: PREVIEW – Political uncertainty clouds Article 6 outlook, with key carbon trade technicalities, crediting standards on the line
Despite prior optimism for progress in Baku on UN carbon markets, political uncertainty following this week’s US election result has dampened enthusiasm for a strong outcome on Article 6 at COP29, with multiple key technical elements of international carbon trade still to be clarified, as well as the thorny question of whether crediting standards brought into force ahead of the summit will be formally endorsed.
Read MoreINTERVIEW: Carbon markets could shore up finance for Africa, but not at $10/t -economist
The voluntary carbon market (VCM) offers an opportunity to raise climate finance in Africa, but more needs to be done to raise the price of carbon and quell the volatility in order to unlock value on the ground, according to a high-profile African economist and former minister.
Read MorePresident Trump’s victory casts doubt over previous optimism for Article 6 progress in Baku
The victory of former President Donald Trump in the US election on Tuesday has cast doubt among observers and negotiators over whether progress is still feasible on Article 6 at COP29 in Baku despite the previous optimism.
Read MoreUS ELECTION RESULTS: President Trump back in charge, climate action set for blow
Former President Donald Trump’s re-election as US president is expected to likely usher in another era of loosening environmental standards in the US and a bigger step-back in climate action internationally – at a time when the Paris Agreement’s 1.5C goal is slipping out of reach and emissions have yet to peak.
Read MoreCOMMENT: Pakistan’s “hope” for carbon trading renewed – an update from the ground
Syeda Hadika Jamshaid is looking ahead to Pakistan’s first ever policy guidelines for carbon trading, set to be released at COP29 in Baku.
Read MorePolitical context of Article 6 talks very different to last year, says ratings agency
The political context around COP29 negotiations in Baku is very different to last year’s summit and could stand to benefit Article 6 talks, the founder of a carbon ratings agency said Tuesday.
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