LATAM Roundup: Countries highlight carbon pricing at COP29, but Brazilian NBS keeps spotlight
Several Latin American countries have made carbon pricing announcements at and around the COP29 UN climate conference in Baku, but subnational Brazilian deals involving nature-based solutions (NBS) – and the Senate’s long-awaited ETS passage – continue to dominate headlines.
Read MoreCOP29: ClimeFi, Xprize launch global CDR challenge to shore up demand
Global portfolio manager for carbon removals ClimeFi and innovation competition organiser Xprize on Friday unveiled the Global 1000 CDR Challenge, urging the world’s largest corporations to commit to purchasing at least 1,000 tonnes of permanent removal credits in 2025.
Read MoreCOP29: “Dark vessels”, oil and gas under-reporting fuelling unrelenting rise in global GHG emissions -data
“Dark vessels”, or ships that disable their tracking systems, are responsible for at least 7% of global maritime emissions, secretly releasing more than 80 million tonnes of CO2 annually, while unfettered methane output from the oil and gas sector is contributing to the unrelenting rise in global greenhouse gas emissions.
Read MoreCOP29: REDD+ projects could help conserve hydropower capacity in Brazil -study
With deforestation compromising Brazil’s hydropower generation capacity, REDD+ projects are one way to address the threats to electricity supply, according to a study presented at COP29.
Read MoreCLARIFICATION – COP29: Brazilian nature-based developers’ alliance signs carbon credits MoU with national export agency
A group of Brazil-based nature-based solutions (NBS) project developers and the nation’s export agency signed a memorandum of understanding (MoU) on Friday to promote the sale of carbon credits abroad.
Read MoreBolivia continues carbon markets U-turn, links up with US-based firm for baselining help
Bolivia’s about-face on carbon markets continued this week as the government teamed up with a US-based environmental data platform for help measuring carbon stocks and emissions, aiming to unlock the country’s domestic offering.
Read MoreTimberland management firm’s LATAM reforestation fund reaches $500 mln, as Petrobras steps up Amazon investment
The timberland management division of a Sao Paulo-based investment bank has reached $500 million for its Latin American reforestation fund, while Brazilian oil giant Petrobras has pledged increased funding for ecological restoration in the Amazon in partnership with the country’s development bank.
Read MoreCOP29: Brazil launches climate funding platform with $10.8 bln in capital
Brazil’s national development bank has formally launched a climate investment platform that it said already has up to $10.8 billion in capital that could be mobilised, in support of its newly updated Paris Agreement pledge.
Read MoreCOP29: Brazil’s Para state to launch call for forest concession tenders
The government of Para state in Brazil is expected this Friday to launch a long-awaited call for tenders to take on an ecological restoration-oriented forest concession, which will generate carbon credits from the reforestation process.
Read MoreChile’s decarbonisation plan lays out carbon pricing, battery measures for public input
Chile has this week launched a public consultation for a national decarbonisation plan with action items tied explicitly to its ETS and carbon tax plans, and attracting investment in battery storage.
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