A landmark transaction which hopefully will be followed by others: https://www.reuters.com/sustainability/firms-including-amazon-buy-180-million-carbon-credits-namesake-rainforest-2024-09-24/
Reuters
Firms including Amazon to buy $180 million in carbon credits from namesake rainforest
Amazon and other companies have agreed to buy carbon offset credits that will support the conservation of its namesake rainforest in the Brazilian state of Para, in a deal valued at around $180 million.
Excellent, thought provoking summary about the voluntary market and the status of Asian markets: https://www.linkedin.com/posts/climease_carbon-markets-update-in-the-asia-pacific-activity-7244956420192833536--LsF?utm_source=share&utm_medium=member_desktop. To take just one example, at Fn. 8 the price expectation of USD 25,-/tCO2 of course contrasts with the price in ETS1 and expected prices in ETS2 and the emission prices payed under the Fuel Quality Directive and indicates how the arbitrage, including under the various Art. 6 transactions, could look like.
Linkedin
ClimEase on LinkedIn: Carbon Markets update in the Asia Pacific
International Carbon Market Update: States and Trends in the Asia Pacific 🌏📊
The report by the Carbon Market Institute (CMI) presents a comprehensive…
The report by the Carbon Market Institute (CMI) presents a comprehensive…
About the reality of climate change in Africa: https://panafricanreview.com/carbon-colonialism-and-land-grabs-africa-must-eat-or-be-eaten/
Pan African Review
Carbon colonialism and land grabs: Africa must eat or be eaten
If Africa can’t contribute to putting food on the world’s table, someone will buy or seize its lands by force and do so. You can take that to the bank
A summary on how dangerous climate change has proven to be: https://academic.oup.com/bioscience/advance-article/doi/10.1093/biosci/biae087/7808595?login=false
OUP Academic
The 2024 state of the climate report: Perilous times on planet Earth
We are on the brink of an irreversible climate disaster. This is a global emergency beyond any doubt. Much of the very fabric of life on Earth is imperiled
Criticism about the manner climate finance is accounted for: https://www.oxfam.org/en/press-releases/41-billion-world-bank-climate-finance-unaccounted-oxfam-finds
Interesting thread about the status and importance of forests for climate change and related perceptions: https://www.linkedin.com/feed/?highlightedUpdateType=SHARED_BY_YOUR_PAGE&highlightedUpdateUrn=urn%3Ali%3Aactivity%3A7255986575811964930
LinkedIn
LinkedIn Login, Sign in | LinkedIn
Login to LinkedIn to keep in touch with people you know, share ideas, and build your career.
Some progress on biodiversity: https://www.ciel.org/news/cbd-cop16-reaffirms-geoengineering-moratorium-fails-fossil-fuel-phaseout/
Center for International Environmental Law
UN Biodiversity Conference Reaffirms Geoengineering Moratorium but Falls Short on Fossil Fuel Phaseout - Center for International…
CBD COP16 closes, marking a pivotal step for biodiversity with historic decision on participation of Indigenous Peoples and People of African descent.
Good news about Art. 6,
https://www.catf.us/2024/11/catf-welcomes-progress-article-6-urges-strong-oversight-ensure-high-integrity-markets/
it will remain to be seen what that means in practice.
https://www.catf.us/2024/11/catf-welcomes-progress-article-6-urges-strong-oversight-ensure-high-integrity-markets/
it will remain to be seen what that means in practice.
Clean Air Task Force
CATF welcomes progress on Article 6, but urges strong oversight to ensure high-integrity markets
Negotiators finalized the operationalization of Article 6.4 of the Paris Agreement, a key framework for international carbon markets.
There is harsh criticism of the rules on Art. 6 adopted in Baku such as https://carbonmarketwatch.org/2024/11/23/cop29-complex-article-6-rules-pave-way-to-unruly-carbon-markets/, but I still see it as progress.
Carbon Market Watch
COP29: Complex Article 6 rules pave way to unruly carbon markets - Carbon Market Watch
Despite the best efforts of activists and some climate negotiators, the agreement reached on Article 6 carbon markets at COP29 in Baku risks facilitating The agreement reached on Article 6 carbon markets at COP29 risks facilitating cowboy carbon markets at…
About demands on the electricity network in Central Asia: https://ember-energy.org/latest-insights/green-energy-corridors-for-central-asia-and-the-caucasus/
Ember
Green energy corridors for Central Asia and the Caucasus | Ember
COP29 host Azerbaijan and its neighbors are still largely fossil dependent, but regional collaboration around renewables could usher in a new era.
A study about carbon markets: https://www.dai.com/news/dai-publishes-carbon-markets-report
Dai
DAI Publishes Carbon Markets Report
DAI, in collaboration with FT Longitude, has published a report exploring what is required to establish robust, transparent, and credible voluntary carbon market systems capable of attracting international finance
A positive assessment of the status of CBAM but arguing there is some support from the EU for specific countries needed: https://www.cer.eu/publications/archive/policy-brief/2024/learning-cbams-transitional-impacts-trade
Centre for European Reform
Learning from CBAM's transitional phase: Early impacts on trade and climate efforts
The EU should use CBAM revenues to fund support for clean industrial investments in least developed and developing countries.
Quite something happening in Brazil: https://www.linkedin.com/pulse/brazil-new-reach-law-carbon-market-bioeconomy-melissa-owen-da6uc/?trackingId=tPfg%2FTrpTJKtnb2YYJRt9g%3D%3D
Linkedin
Brazil: New "REACH" Law, Carbon Market Law, and Bioeconomy Developments
Brazil Passes its Carbon Market Law Brazil’s government continues to move on its sustainability and environmental agenda. Latest delivery: Congress passed its Carbon Market Law.
A dispute about the methodology in the voluntary market: https://www.oeko.de/blog/the-icvcm-approval-of-three-redd-methodologies-presents-risks-to-the-integrity-of-the-initiative
oeko.de
The ICVCM approval of three REDD methodologies presents risks to the integrity of the initiative
In November 2024, the Governing Board of the Integrity Council for the Voluntary Carbon Market (ICVCM) approved three methodologies for reducing emissions from deforestation and forest degradation (REDD). The methodologies are now eligible for issuing “high…
A very thoughtful report which nevertheless does not really further clarity on many of the choices that climate policy faces: https://www.prnewswire.com/news-releases/act-on-climate-risk-today-or-face-the-high-cost-of-inaction-302328370.html
PR Newswire
Act on Climate Risk Today or Face the High Cost of Inaction
/PRNewswire/ -- Climate inaction is exposing businesses to escalating risks that threaten profits, operations, and long-term viability. For unprepared...
A call for regulation of disclosure, in particular relating to scope 3: https://www.unepfi.org/industries/net-zero-asset-owner-alliance-calls-for-regulatory-mandates-on-scope-3-disclosure/
www.unepfi.org
Net-Zero Asset Owner Alliance calls for regulatory mandates on Scope 3 disclosure
Geneva, 4th December: The UN-convened Net-Zero Asset Owner Alliance (NZAOA) has released a new paper emphasising the critical role of top-down regulatory mandates in overcoming data and disclosure...
https://www.reuters.com/business/finance/citigroup-joins-us-lenders-exiting-net-zero-banking-alliance-2024-12-31/ and https://tennesseestar.com/news/two-major-banks-leave-united-nations-net-zero-banking-alliance-within-two-weeks/tcsquare/2024/12/21/?feed_id=7307&_unique_id=6769ab4ec31dc seem to confirm a monumental change in approach due to the Trump administration, which will give much food for thought, so lots to do in the NY!
HAPPY NEW YEAR!!!
HAPPY NEW YEAR!!!
Reuters
Citigroup, BofA join US lenders in exiting Net-Zero Banking Alliance
U.S. banks Citigroup and Bank of America
said on Tuesday they are exiting the Net-Zero Banking Alliance (NZBA), a group of global banks that have pledged to curb greenhouse gas emissions.
said on Tuesday they are exiting the Net-Zero Banking Alliance (NZBA), a group of global banks that have pledged to curb greenhouse gas emissions.