News and intelligence on carbon markets, greenhouse gas pricing, and climate policy
Updated: 24 min 51 sec ago
The Southeast Asian nation of Timor-Leste is preparing regulations and a national registry to govern voluntary carbon market projects in the country in preparation to eventually host Article 6 projects within its borders, an official told a panel discussion at COP28.
EUAs weakened steadily on Monday morning as they came under renewed selling pressure after Friday's rally, while gas prices fell back amid milder weather forecasts and observers predicted that carbon prices appeared likely to remain under pressure for at least another week.
Bhutan launched its national carbon registry at COP28 on Monday, also integrating itself with the Climate Action Data (CAD) Trust, the first country to do so.
Australia’s current carbon prices via its Safeguard Mechanism are not sufficiently high to drive down the price of hydrogen, but that may be about to change, a report said Monday.
Several international organisations including the Science Based Targets initiative (SBTi), the VCMI, and the ICVCM came together to establish an 'end-to-end' integrity framework that they say provides consistent guidance on decarbonisation including the use of carbon credits for residual emissions, as announced at COP28 on Monday.
New analysis published by climate finance experts on Monday called for all countries to commit to a substantial rise in investment to deliver the goals of the Paris Agreement.
COP28: Potential for price floors and integral role of Indigenous Peoples central to discussions on biodiversity credits
Indigenous Peoples and local communities need to be at the heart of developing an effective and equitable biodiversity market due to the key role they play as stewards of biodiversity-rich land, while the introduction of a credit price floor could help ensure an equitable approach here, said speakers from the International Advisory Panel on Biodiversity Credits at COP28 today.
The Coal to Clean Credit Initiative (CCCI) signed Monday an agreement for the early phaseout of a Filipino coal plant, and is working with the COP28 presidency to garner buying interest in the resulting carbon credits issued from its draft methodology, which it says will be eligible for transaction under the Paris Agreement.
It's Day 5 of COP28, and climate finance is the catchphrase of the day – although tensions on 1.5C and the fossil fuel phaseout are bubbling. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (Gulf Standard Time, GMT+4).
Six of the major independent carbon crediting standards have announced on Monday at COP28 their intent to work together on common principles for the quantification and accounting of removals and emissions reductions, as they each seek assessment under the ICVCM's Core Carbon Principles (CCPs).
The federal Australian government has announced an advisory group to encourage business to invest in nature repair, it announced Monday, as it looks to pass its Nature Repair Market (NRM) legislation in parliament this week.
It's Sunday night in Dubai and - you guessed it - today was another news-packed day at COP28. Without further ado, here's what Carbon Pulse's 11 reporters currently on the ground in the UAE were writing about during the summit's fourth day.
COP28: Global securities watchdog group proposes suite of good practices for voluntary carbon markets
A global group of securities regulators has taken steps to address challenges and vulnerabilities in voluntary carbon markets (VCMs), focusing on strengthening market integrity, transparency, and reliability by proposing a suite of good practices.
COP28: Republic of Congo punts for Article 6 over voluntary carbon, developing roadmap towards readiness
The Republic of Congo plans to develop sovereign carbon credits for sale under the Paris Agreement's Article 6, opting to shun the "climate injustice" of the voluntary market as well as REDD+ programmes, the minister of environment told Carbon Pulse at COP28, though it is not clear under which standard the units would be issued.
New Zealand market participants once again expect the December ETS auction will fail to clear due to lack of demand, creating positive market fundamentals going into the new year.
Director, Africa Origination & Deal Lead, Conservation International – Nairobi/Cape Town/Johannesburg
Conservation International is looking for a self-determined and motivated candidate who is able to navigate complex environments in various countries within Africa. This position will be the lead for carbon transactions, both on the “upstream” origination side, as well as the “downstream” commercial side.
Japan is preparing to expand the scope of the bilateral Joint Crediting Mechanism (JCM) to cover overseas agricultural projects, a panel heard Sunday.
President Bola Tinubu of Nigeria outlined plans to accelerate the country's carbon market with the launch of a draft plan for the new committee to include an emissions trading scheme, carbon registry, and a framework for the development of carbon credits for the voluntary carbon market at COP28 in Dubai, amid several months of stalled agreements regarding a national strategy.
COP28: Gore highlights shortfalls in methane pledge, urges use of global inventory to monitor progress
Al Gore emphasised the importance of Saturday's methane pledge by almost 50 oil and gas companies to work towards near zero methane emissions, while highlighting glaring gaps in the announcement due to the absence of some of the world’s highest emitting companies and countries, during a plenary session at COP28.
COP28: India’s green credit program “empty shell” without private sector investment, markets expert cautions
India’s green credit scheme may fail to deliver on its intended purpose unless the federal government strongly pushes the private sector into the units, a climate veteran told Carbon Pulse on the sidelines of COP28 in Dubai.