Most eligible CDM projects on course to miss out on Article 6 transition as deadline looms
The vast majority of carbon projects developed under the Kyoto Protocol’s Clean Development Mechanism (CDM) are set to miss a Tuesday deadline to enable them to transition to UN crediting under the Paris Agreement, leaving many legacy projects outside the new scheme.
Read MoreChile authorises second standalone battery storage project under Swiss Article 6 deal
Chile and Switzerland have authorised a second standalone battery energy storage system (BESS) mitigation activity under Article 6 of the Paris Agreement, expanding the use of carbon finance to support grid-scale energy storage in the South American country.
Read MoreTanzania rejects claims carbon market deals surrender natural resources
Tanzania has rejected opposition claims that international carbon trading agreements amount to the sale or transfer of control over the country’s natural resources, insisting that its carbon market framework is designed to protect national sovereignty while generating new revenue.
Read MoreUN draft sets Article 6.4 first transfer, real-time reporting rules
The UNFCCC’s latest draft procedure for the Article 6.4 mechanism registry sets out requirements for real-time public reporting of registry activity, detailed first-transfer rules, and proposed account fees for the Paris Agreement Crediting Mechanism (PACM).
Read MoreIndia carbon market coalition launches platform for Article 6 projects
India’s carbon market coalition on Friday launched the Article 6 Carbon Bazaar, a new industry platform to support participation in international carbon markets under the Paris Agreement.
Read MoreBRIEFING: Australia still wary of international units, as questions linger over what they should be used for
The Australian government remains cautious about the use of international carbon credits for domestic purposes, as some argue they could help provide high integrity flexibility for polluters, while others have urged caution about their impacts on encouraging onsite abatement.
Read MoreEU to propose more dynamic ETS supply controls, slower emissions cap decline -reports
The European Commission is preparing a broad overhaul of the EU ETS that would introduce more dynamic controls over allowance supply, recalibrate the market’s emissions trajectory, and extend support for industrial decarbonisation, according to a media report citing people familiar with the plans.
Read MoreLCAW26: CBAM is the stick, Article 6 the carrot, and market instruments the tool to implement, says commodities trader
The clearest route to scaling carbon markets is to penalise emissions using carbon border fees and reward low-carbon intensity products through the use of market instruments such as book-and-claim and environmental attribute certificates (EACs), according to a representative of a global commodities trading house.
Read MoreAfrica roundup: Kenya surprises the market, while others press ahead with Article 6 prep
Kenya, a regional frontrunner in the race to attract carbon trading, took many in the market by surprise this month when it announced it would limit its Article 6 credit transfers despite already having a big existing project pipeline – in another sign of the uncertainties surrounding Sub-Saharan Africa’s up-and-coming carbon markets.
Read MoreLCAW26: INTERVIEW – Japanese govt should look beyond domestic carbon market to international credits, investor group says
The Japanese government is placing too great a priority on its domestic carbon market, the GX-ETS, and should expand focus to engage with international credits, a Tokyo-based public-private partnership said at London Climate Action Week (LCAW).
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