VCM Report: Split between old and new voluntary carbon market emerges to start year
The year has kicked off with strong divergence between what many regard as the old and new versions of the voluntary carbon market, even before the emergence of the first credits labelled with the ICVCM’s Core Carbon Principles (CCPs) stamp of high-integrity approval.
Read MoreLeading Article 6.2 buyers plan to proceed with and strike new bilateral deals
Two of the most active buyer countries in the Article 6.2 market for internationally transferred mitigation outcomes (ITMOs), still in its infancy, have stated that they will push ahead with existing Article 6 agreements and strike new ones.
Read MoreSwitzerland, Thailand conclude first transaction of Article 6 carbon units for Paris Agreement compliance
The first-ever Internationally Transferred Mitigation Outcomes (ITMOs) for use under a national Paris Agreement emissions pledge have been delivered, with carbon units from activities in Thailand transacted to Switzerland, the parties announced Monday.
Read MoreVCM Report: Carbon credit retirements surge late in year, with older and cheap units favoured
A surge in retirement of carbon credits last week set voluntary demand on course to match 2022 levels, while trading volumes were boosted by rock bottom prices for pre-2018 REDD avoided deforestation credits as more onerous disclosure requirements loom.
Read MoreBusiness leader lays blame for UN’s Article 6 talks collapse firmly with EU
The head of carbon trading business group IETA blames the EU for this week’s collapse of COP28 UN climate talks on Article 6 emissions trade, though expects such approaches to continue to develop apace within smaller groups of nations.
Read MoreANALYSIS: UN Article 6 crediting faces “severe” credibility threat, parties to pivot towards voluntary carbon and bilateral trade
After COP28 talks ended in turmoil, UN carbon crediting under the Paris Agreement’s Article 6 provision is now not expected until 2026, with the way forward complicated by political divisions, attention may pivot towards the voluntary carbon market and scaling international trading arrangements.
Read MoreSwiss DAC company, global consulting firm sign 15-year CDR offtake deal
A Zurich-headquartered direct air capture (DAC) company and a US-based consulting firm have signed a 15-year agreement that entails the purchase of tens of thousands of CO2 removal (CDR) credits by the latter, in a move the two say is intended to help scale the nascent technology.
Read MoreCOP28: First-ever Article 6.2 issuance raises additionality concerns as ITMO transfer looms, say NGOs
An Article 6.2 deal between Switzerland and Thailand that had achieved the world’s first issuance of ‘internationally transferred mitigation outcomes’ (ITMOs) may not involve additional emissions reductions, according to an NGO report this week.
Read MoreVCM Report: Bargain hunting starts to slow trade before end of the year
Bargain hunting dominated the voluntary carbon market (VCM) last week where activity started to slow down for the year, despite the emergence of the first correspondingly adjusted credits that are expected to create a new tier of trading.
Read MoreCOP28: Article 6 must remove ‘fear of entry’ to channel carbon finance for transformational change, market urges
Market actors urged for clarity on Article 6 as COP28 draws to a close, citing the potential to improve trust in carbon markets by removing the ‘fear of entry’ for buyers currently hesitant to engage in credit-buying due to the risk of reputational damage linked to greenwashing.
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