South Korea cancels April CO2 allowance auction amid weak demand
South Korea has cancelled this month’s carbon allowance auction, as demand in the national carbon market remains weak amid a persisting glut of allowances.
Read MoreKorean port authority teams up with US non-profit to decarbonise shipping sector
One of the largest industrial ports in South Korea has teamed up with a California-based environmental organisation to drive down emissions in the international shipping sector.
Read MoreVCM Report: SBTi spark fizzles out by end of week, voluntary carbon prices little changed, liquidity thin
Prices were little changed last week on low volume, but the Science Based Targets initiative (SBTi)’s sudden change of policy to allow qualifying voluntary carbon credits to be used to offset some corporate emissions could inject a surge of investment and interest in the voluntary market.
Read MoreFrance latest to join global pro-carbon pricing alliance
France has become the latest country to join a group of nations pledging to expand carbon pricing mechanisms around the world, its government announced on Friday.
Read MoreEleven carbon credit programmes vie for eligibility under UN’s CORSIA offset scheme in latest application round
Eleven carbon offset programmes have applied or reapplied to supply eligible compliance units for use by airlines in 2024-26 under CORSIA, the international aviation emissions trading scheme devised by UN body ICAO.
Read MoreINTERVIEW: VCMI distinguishes role in light of SBTi voluntary carbon announcement
The Voluntary Carbon Markets Integrity Initiative (VCMI) has maintained that it still has an important role in providing guidance for corporate climate claims and voluntary carbon credit use, in light of an announcement this week from the Science Based Targets initiative (SBTi) that signalled the body would undergo a major position change and also endorse offset use towards net zero goals.
Read MoreSBTi staff call for CEO to be sacked, immediate reversal of Scope 3 offset use decision
A letter, sent by Science Based Targets initiative (SBTi) staff to the non-profit’s board and CEO and seen by multiple media sources, has called for the chief executive to resign and to immediately reverse a decision set to allow companies to use voluntary carbon credits to meet Scope 3 emissions targets.
Read MoreANALYSIS: Voluntary carbon stakeholders react to SBTi pivot on offset use for corporate targets
A major announcement from the Science Based Targets initiative (SBTi) that now opens the door for offset use as part of validated corporate net zero targets has made waves in the voluntary carbon sector, with proponents of the decision lauding its demand implications for the market, and critics arguing that the move undermines the organisation’s role in the broader fight against climate change.
Read MoreGlobal carbon emissions trading revenues rise 17% to record $74 bln in 2023 -report
A total of more than $74 billion was raised from 36 carbon emissions trading systems last year, up from $63 bln the year before, with strong momentum building for new mechanisms in emerging economies, according to research published Wednesday.
Read MoreSBTi poised to validate voluntary carbon credit use for corporate Scope 3 emissions goals
The Science Based Targets initiative (SBTi) has decided that voluntary carbon credits may be used to offset corporate Scope 3 emissions, the body said Tuesday, it what should provide a significant boost for offset demand.
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