Switzerland ties up with three more countries for Article 6 credit trade
Switzerland has concluded bilateral agreements with Chile, Kenya, and Tunisia to pave the way for buying correspondingly adjusted carbon credits from them under the Paris Agreement.
Read MoreCOP28: PREVIEW – Hosts to push voluntary carbon as markets eye convergence with UN rules
Hosts UAE plan to push voluntary carbon markets (VCM) at COP28, with regional involvement likely to ramp up at the summit, announcements expected on new and existing crediting initiatives, and stakeholders anticipating preparations for the convergence of private-sector markets and government ones under the UN Paris Agreement’s Article 6, in light of a rising number of international bilateral trade agreements and a wider drive towards raising integrity.
Read MoreCOP28: PREVIEW – Article 6 negotiations to focus on technicalities of international carbon trade
With the UN body mandated to shape the carbon crediting mechanism under Article 6 of the Paris Agreement having already produced its final recommendations, the focus on markets in negotiations at COP28 will be on finalising technical details relating to the international trade of units, such as determining the rules around national authorisation of transactions, the transparency of reporting, and establishing safeguards for the mechanism.
Read MoreCOP28: PREVIEW – The big ticket topics to follow in Dubai
Reforming and scaling climate finance, including moving forward on operationalising a new loss and damage funding mechanism, establishing global renewables targets, and the future of fossil fuels, are likely to be the core topics of discussion at COP28 in Dubai, according to climate experts and other observers, which will also bear witness to the first ever global stocktake (GST) of the Paris Agreement.
Read MoreANALYSIS: Experts mull impact of potential forest carbon split under Article 6
Countries are already advancing plans to trade emissions reductions from forest carbon activities under Article 6.2 of the Paris Agreement, yet a decision on the eligibility of such initiatives under the Paris pact’s Article 6.4 centralised carbon crediting mechanism is not imminent, a potential misalignment that has experts at odds.
Read MoreTanzania urges region to unite against foreign carbon companies, Guyana to call for inclusion of forests in Article 6 -media
Tanzania has urged East African heads of state to take a common stance ahead of COP28 in opposing the dominance of foreign firms in the region’s carbon trading activities, according to domestic media sources.
Read MorePhilippines signs MoU with climate tech firm to build ITMO registry, gets ready for Article 6 market -media
The Philippines has signed a memorandum of understanding (MoU) with a local climate tech firm which will help the nation to build an ITMO registry, setting the stage for the country to enter the carbon market, local media reported Friday.
Read MorePakistan considering cap-and-trade system for its carbon market, official says
The federal government of Pakistan is considering a cap-and-trade model for its imminent carbon market, an official said according to local media.
Read MoreINTERVIEW: Global Carbon Council poised to add adjusted credits from Oman, UAE
Global Carbon Council (GCC) has received letters of authorisation from Oman and the UAE for projects to offer correspondingly adjusted (CA) carbon credits on its registry, as part of expansion plans that involve adding a CCS methodology and gaining eligibility for phase one of CORSIA, a senior executive at the carbon credit certifier has told Carbon Pulse.
Read MorePhilippines government to announce investment areas for green and blue carbon
The Philippines is set to announce priority investment areas for green and blue carbon projects as the country seeks to explore the potential of nature-based carbon sinks, with 1 million hectares of classified government forest land to be opened up for investments in Q1 next year, local media reported.
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