South Korea likely to fail international credit purchase target for 2030, report says
South Korea should not rely on carbon credits from international projects to achieve climate goals, as the country is considered highly likely to fail its target of securing millions of Paris-aligned units by 2030, according to a recent report.
Read MoreCarbon Pulse launches new NDC Tracker ahead of COP30 in Brazil
As countries submit new national climate plans to the Paris Agreement ahead of a September deadline, Carbon Pulse is keeping track of who’s submitted what, and gauging interest in Article 6 in particular among parties.
Read MorePakistan grants host country approval for int’l carbon trade to two projects
Pakistan’s Ministry of Climate Change and Environmental Coordination (MoCCEC) has issued Host Country Approval (HCA) and Letter of Intent (LoI) to two offset projects under Article 6 of the Paris Agreement, in a major step to operationalise its carbon markets.
Read MoreRising emissions from chip production threaten climate progress in East Asia, report says
Electricity consumption from the manufacture of AI chips has more than tripled over the past two years, potentially muting climate progress in East Asia, the global hub for semiconductor production, an NGO warned Thursday.
Read MoreDeveloper eyes Singapore market for Ghanaian cookstove project
A Seoul-headquartered developer has launched a clean cooking project in Ghana compliant under Article 6 of the Paris Agreement, expecting the credits to sell at a price making them attractive for Singaporean emitters with carbon tax obligations, the developer told Carbon Pulse Tuesday.
Read MoreSK Market: South Korea cancels April CO2 allowance auction amid bearish sentiment
South Korea has decided to cancel this month’s carbon permit auction, as sentiment in the national emissions market remains bearish.
Read MoreSouth Korea urged to raise ambition levels in next NDC
An NGO has called for South Korea to cut GHG emissions by two-thirds by 2035 or reach its carbon neutrality target at least five years earlier to meet its carbon budget.
Read MoreKorean agency, securities firm partner to support international carbon projects
State-funded Korean Trade-Investment Promotion Agency (KOTRA) has teamed up with a domestic securities firm to encourage the advancement of international greenhouse gas reduction projects.
Read MoreGhana’s Article 6 pipeline teeming with projects, expects ITMO transfer by H2
Ghana has received 70 projects for review in pursuit of eventual authorisation or endorsement, including 45 applications for Article 6 projects with sovereign nations, according to a report published Friday by the country’s Carbon Markets Office (CMO).
Read MoreKorea to fund international emissions reduction projects
South Korea has put out its annual call for proposals that could advance the development of international emissions reduction projects.
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