Eleven carbon credit programmes, including national registries from Japan, South Korea and Thailand, have applied for their carbon credits to have eligibility in CORSIA, the international aviation emissions scheme devised by the UN body ICAO, between 2024-26. In Europe, carbon prices nudged higher despite giving up gains of as much as 2.6% on Friday after early short-covering and de-risking ahead of a three-day weekend in the UK gave way to renewed weakness, while UK carbon posted its second consecutive daily increase after three weeks of declines. A European airline group plans to buy up to 100 million carbon removal credits by 2050, and potentially 2 mln a year by 2030, it stated Friday. In Asia Pacific, Indonesian President Joko Widodo held a closed door meeting with ministers this week to finalise governance structures for carbon credit exports in the country. In the Americas, federal lawmakers are questioning inconsistencies in the US EPA’s proposed ‘e-RINs’ pathway for renewable electricity supplied to electric vehicles to generate Renewable Fuel Standard credits, which has drawn renewed support from biogas groups in recent days following reports of possible delays. India plans to stop building new coal-fired power plants, apart from those already in the pipeline, by removing a key clause from the final draft of its National Electricity Policy, in a major boost to fight climate change. Vietnam meanwhile aims to more than double its power generation capacity by 2030, but has slightly lowered its target for offshore wind and will heavily rely on coal until the end of the decade, according to a government document. Japan will contribute $25 mln to help countries in the Asia-Pacific region address the issue of climate change via a new financing mechanism by the Asian Development Bank.
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It is important that carbon credit schemes also benefit local communities.
The World Meteorological Organisation has stated that 193 countries have given unanimous backing to a scheme to monitor global greenhouse...
