ART programme approves five Central and South American jurisdictional REDD concepts
The Architecture for REDD+ Transactions (ART) on Thursday announced it has approved the first five submissions for jurisdictional deforestation reduction programmes that may generate carbon credits for use in international emissions trade.
Read MoreMassachusetts to pursue 100% zero-emissions vehicle mandate and regional LCFS
Massachusetts will follow California’s lead in phasing out sales of new gas-powered light-duty vehicles by 2035, as well as implementing a regional low-carbon fuel standard (LCFS) to operate alongside the Transportation & Climate Initiative (TCI) carbon market, Governor Charlie Baker’s (R) administration announced last week.
Read MoreCalifornia awards 4 mln offsets to cap off bumper 2020
California divvied out 4 mln compliance offsets across all four active protocols this week, according to data published by state regulator ARB Wednesday, capping off a year that saw total credit issuances under the state’s WCI-linked carbon market rise 70% over 2019 levels.
Read MoreCheap units from emerging nations dominate voluntary offset supply, survey shows
Low-cost offsets from emerging or developed nations dominated voluntary carbon market supply in 2019, while market participants fear efforts to standardise pricing will make premiums even harder to achieve for high quality activities, according to a report published Friday.
Read MoreWorld needs to cut CO2 intensity five times faster to hit 1.5C Paris goal -report
An annual decarbonisation rate of 11.7% is now needed to keep global warming below 1.5C, representing more than five times the 2.4% reduction level reached before the pandemic, according to a report published on Friday.
Read MoreGreen group EDF sees legitimate role for international offsets
International offsets can make a legitimate contribution to voluntary climate action, according to green group EDF, which set out key principles on Thursday that contrast with other campaigner calls to end the practise in an increasingly uncertain sector.
Read MorePresident-elect Biden to tap North Carolina regulator to lead US EPA -reports
US President-elect Joe Biden is expected to nominate North Carolina environmental regulator Michael Regan to led the EPA, Reuters reported Thursday.
Read MoreNGO call to end use of international offsets meets with resistance
An NGO proposal to replace international offsetting with climate finance in order to avoid double claiming has been met with resistance from some in the voluntary carbon market, who fear a lack of corporate interest.
Read MoreS&P Global Platts to launch CORSIA offset price assessment
Commodity price reporting agency S&P Global Platts on Wednesday announced it will begin assessing prices for carbon credits approved for use in ICAO’s global aviation offset system CORSIA, as interest in the voluntary market grows.
Read MoreBP acquires majority stake in US offset developer Finite Carbon
Oil major BP has acquired a majority stake in carbon offset developer Finite Carbon, deepening its interest in the forestry-focused company and targeting a major expansion internationally.
Read More