VCM Report: Nearby N-GEO futures crash below $6
Standardised offset prices slipped sharply at the end of the week, particularly for nature-based offsets, as the expected feelgood factor from COP27 summit in Egypt failed to materialise, although sources noted some over-the-counter sellers were turning bullish.
Read MoreCOP27: New demand pledges for forest carbon credits amongst incremental progress to halt deforestation
Several public and private commitments were made to ramp up the financing available to protect the world’s forests at the COP27 UN climate talks on Monday, alongside efforts to better track progress on conserving and enhancing forest carbon stocks that included new demand pledges towards forest carbon credits.
Read MoreINTERVIEW: Platform eyes role in explosion of REDD+ projects beyond rainforests
More tree conservation projects could be potentially created in the savannas and shrub lands of sub-Saharan Africa than from the rich rainforests around the continent’s equator, according to one of the founders of a soon-to-be launched free-to-access digital platform that promises to calculate the carbon content of every tree on the planet.
Read MoreVCM integrity bodies tout ‘incremental’ approach as work continues
The VCM is set to be the topic of several events organised on the margins of COP27 in Egypt this week, where experts are due to debate its merits over its weaknesses, while initiatives aimed at improving integrity highlight progress to date.
Read MoreRatings agency finds minority of REDD+ credits are good quality
The “misconception” that all forestry conservation (REDD+) projects are low quality is not true, according to a ratings agency that has classed more than 143 mln carbon credits as coming from projects with little risk of overstated claims, although they are still a minority of the offsets issued so far.
Read MoreSwitzerland withdraws COP31 candidacy citing Australia-Pacific bid, costs
Switzerland on Wednesday ended its bid to host the UN climate summit in 2026 following a government-commissioned analysis, citing a rival joint bid from Australia and the Pacific islands, the overall cost of the summit, and its preference for establishing a partnership at the event instead.
Read MoreAt least 29 mln REDD credits eligible for backdating with CCB
At least 29 mln forestry conservation (REDD) credits from 12 projects accredited by Verra over the last eight months could be retroactively backdated with the co-benefit Climate, Community and Biodiversity (CCB) standard, boosting their value, analysts have suggested.
Read MoreXpansiv to launch new standardised carbon credit contract for cookstoves
Xpansiv is launching a standardised spot contract for cookstoves offsets next month that hopes to overcome general criticisms of poor quality projects in the voluntary carbon market (VCM) with the requirement of achieving at least five sustainable development goals (SDGs).
Read MorePREVIEW – COP27: The big ticket topics to follow in Sharm el-Sheikh
Loss and damage, climate finance, and the emissions mitigation gap are expected to be among the top issues faced by representatives from nearly 200 governments at UN climate talks starting this week, according to climate experts and other observers.
Read MoreVCM Report: Nature-based offsets mount slight recovery
Nature-based spot and nearby future offset prices bounced off lows last week, partly buoyed by news of Indonesia clarifying carbon trading rules and the upcoming UN climate talks, but the market in general remain depressed by the gloomy macro-economic outlook.
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