Carbon markets
‘Hot air’ carbon offset scheme undermines Colombia’s climate goal, experts warn
Colombia stands to lose $62m in carbon tax revenue and underperform its emissions targets due to flawed forest carbon credit projects, investigators claim
Shell’s net zero plan will be judged on science, not spin
Shell’s net zero plan is better seen as a defence of its core oil and gas business, which it is planning to expand, than a genuine energy transition
Carbon markets are proving resilient to the coronavirus pandemic
In contrast with the aftermath of the 2008 financial crash, carbon prices have not taken a big hit from Covid-19, reflecting improvements in market design
Scientists push to add “huge” fish trawling emissions to national inventories
Bottom-trawling for fish releases more carbon dioxide each year than Germany, a study has revealed, yet this is not included in national carbon accounts
DR Congo campaigners take minister to court over illegal logging rights claims
Environment minister Claude Nyamugabo is accused of violating a moratorium on logging in the Congo rainforest, by awarding concessions the size of Wales
Carney’s carbon offset taskforce ducks environmental integrity questions
As the UN special envoy for climate action and finance unveils plans to scale up the voluntary carbon market, campaigners warn big gaps remain on quality standards
China launches world’s largest carbon market for power sector
China’s national emissions trading scheme could become a significant lever for climate action, but experts warn that it will do little to curb emissions in the short term
UN-led carbon market suspends formal project registration after 2020
Countries are under mounting pressure to resolve carbon trading rules at Cop26, as the future of the Clean Development Mechanism hangs in the balance
Brazil sets ‘indicative’ goal of carbon neutrality by 2060
Brazil is seeking to join the net zero club, but campaigners denounced its pledge as meaningless while deforestation rises under President Bolsonaro
Mark Carney oversees blueprint for scaling up carbon market as offset demand soars
With more and more businesses setting net zero emissions targets, the voluntary carbon market needs stronger quality control to scale up, says UN special envoy
Peru and Switzerland sign ‘world first’ carbon offset deal under Paris Agreement
In an agreement that took two years to negotiate, Peru will get finance for sustainable development projects while Switzerland takes credit for the emissions cuts
Fate of UN-led carbon market to be decided behind closed doors
The executive board is considering an extension of the Clean Development Mechanism beyond 2020, under industry pressure but with no political mandate
Despite socialist scepticism, Cuba shows interest in carbon trading
In its national climate plan, Cuba indicated it would like to sell carbon credits on an international market, a concept previously opposed by socialist allies
‘Final blow’ to aviation climate plan as EU agrees to weaken rules
EU member states will back an industry proposal to reduce airlines’ climate obligations in response to the coronavirus pandemic, at the UN aviation forum
Delay to climate talks deepens uncertainty over future of carbon markets
Project developers in poor countries are struggling to attract finance, as deadlock on international carbon trading rules cannot be resolved before November 2021
Airlines could get free pass on climate for five years under industry proposal
The industry is lobbying to rewrite the rules of a UN aviation pact, in a move researchers say would remove pressure to invest in clean flying technology
Airlines urge UN body to ease climate goals for 2020s as traffic collapses
Airlines’ trade association says current plans to offset greenhouse gas emissions from a 2019-2020 baseline would put an ‘inappropriate economic burden on the sector’
Putting the brakes on – Climate Weekly
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Coronavirus may toughen airlines’ goals for curbing emissions in 2020s
Coronavirus likely to lower a key 2019-20 baseline for average aviation emissions that will force more carbon offsets if flights rebound in 2020s
Australia’s carbon accounting plan for Paris goals criticised as ‘legally baseless’
Legal experts wrote to Prime Minister Scott Morrison warning the use of old carbon credits to meet the country’s 2030 goals would set a ‘dangerous precedent’