12-Mar-2024
Italy to phase out coal power by 2025
Italy aims to cease using coal for electricity generation by 2025, according to the country’s Energy Ministry, in a move that aligns it more closely with the direction of other European Union members.
12-Mar-2024
SEC adopts new climate-related disclosure rules for investors
The US Securities and Exchange Commission adopted its final rule requiring companies to disclose climate-related risks that have a material impact on their business strategy, operations, or financial position -- including their use of carbon credits if they are a material component used to achieve the company’s climate target.
12-Mar-2024
Unilever sets new emission targets, net zero value chain goal by 2039
Unilever aims to reduce its Scope 1 and 2 emissions by 100% by 2030 from a 2015 baseline, and to cut its Scope 3 emissions by 39% over the same period, according to a recent decarbonisation progress update.
12-Mar-2024
European Commission releases 2022 aircraft emissions data
According to a new report by the European Commission, EU aircraft operators emitted 105 million tCO2 during CORSIA-eligible flights in 2022. It is the first time that such emissions are measured across the EU.
12-Mar-2024
GCF commits USD 1.3b for climate action in developing countries
The board of the Green Climate Fund (GCF) endorsed 11 new adaptation projects in developing countries, committing USD 490 million. Together with planned co-financing, that brings the total investment to nearly USD 1.3 billion.
12-Mar-2024
EU Parliament set to vote on green claims directive
The European Commission’s proposal for specific rules on voluntary ‘green’ claims will go to a vote in the EU Parliament this month and could be implemented over two years. It aims to protect consumers against misleading product information – including via the use of carbon offsetting.
12-Mar-2024
People’s Pension moves USD 15b into ‘climate-aware’ strategies
UK workplace pension scheme ‘The People’s Pension’ announced the shift of GBP 15 billion (USD 19.2 billion) of its assets under management into so-called ‘climate-aware’ investment strategies.
12-Mar-2024
Tao Climate pledges to sequester 1 billion tonnes of CO2e by 2030
Tao Climate, a greentech software company, announced a goal to remove 1 gigatonne of carbon by 2030 by building homes with hemp-based materials, as part of the Google Startups for Sustainable Development program.
12-Mar-2024
Stellantis to invest EUR 5.6b in South America
Multinational carmaker Stellantis announced an EUR 5.6 billion (USD 6.1 billion) investment plan forthe South American region from 2025 to 2030, to support new business opportunities including the development of hybrid and low-carbon technologies.
05-Mar-2024
Guyana announces new CORSIA-eligible Jurisdictional-REDD+ issuance
The Architecture for REDD+ Transactions (ART) standard issued 7.1 MtCO2e 2021-vintage carbon credits to Guyana, which have been issued with a Paris Agreement corresponding adjustment (CA). These hence become the first credits on the market fully eligible for Phase I of CORSIA. Meanwhile, Guyana received its first payment of USD 75m from the Hess Corporation for carbon credits.
05-Mar-2024
Oxford launches updated Carbon Offsetting Principles
An interdisciplinary team of researchers at Oxford University have released an update to flagship guidance on credible and net-zero-aligned carbon offsetting.
05-Mar-2024
SBTi releases 'beyond value chain mitigation' guidance
The Science-Based Targets initiative released its long-awaited report on the design and implementation of beyond value chain mitigation (BVCM).
05-Mar-2024
Bain & Company makes inaugural VCMI Carbon Integrity Claim
Management consultancy Bain & Company has become the first organisation to make a Carbon Integrity Platinum Claim' under the Voluntary Carbon Market Integrity Initiative (VCMI). This requires the purchase and retirement of high-quality credits amounting to at least 100% of a company’s remaining emissions.
05-Mar-2024
IEA says global energy-related emissions hit record in 2023
Global energy-related emissions of carbon dioxide hit a record high last year, driven partly by fossil fuel use in countries where droughts hampered hydropower production, the International Energy Agency said.
05-Mar-2024
HSBC, Standard Chartered eye coal transition credits
HSBC and Standard Chartered are reported to be working on a new kind of financial instrument that's designed to monetise the shift away from 'high-carbon assets'. Transition credits would be generated, for example, if there was an early closure of a coal power station.
05-Mar-2024
European Parliament adopts Nature Restoration Law
The European Parliament has set a target for the bloc to restore at least 20% of the EU’s land and sea areas by 2030, and 90% of degraded habitats covered by the new law by 2050.
05-Mar-2024
Puro to apply for CORSIA eligibility, issue three more methodologies
Voluntary carbon removals platform Puro.earth said that it will issue credits under three new methodologies this year and apply to have its units approved under the current phase of the UN's CORSIA aviation offsetting scheme.
05-Mar-2024
ExxonMobil and Shell selected for Singapore CCS value chain
ExxonMobil and Shell have formed a consortium to evaluate and develop a cross-border carbon capture and storage (CCS) project for reducing emissions in Singapore. It would be capable of capturing and permanently storing at least 2.5 million tons of CO2 a year by 2030.
05-Mar-2024
Brazil partners with GFANZ to boost green growth
Brazil said that its BNDES development bank would partner with the Glasgow Financial Alliance for Net Zero (GFANZ) to boost funding for clean energy and nature restoration, including reforesting the Amazon rainforest.
05-Mar-2024
ABP to invest EUR 30b in sustainable projects
Dutch civil servants' pension fund ABP said it wants to invest EUR 30 billion (USD 33 billion) of the cash it manages to achieve both financial and societal impact, especially in areas like climate and biodiversity.