Zimbabwe has reportedly stepped back from its threat to declare “null and void” all present deals for carbon offset in the country. Meanwhile, carbon credit pricing has continued to fall for older varieties as the long-term bearish trend builds. Among this week’s developments, voluntary carbon market standard Verra saw its founding CEO step down, while certifier Gold Standard launched new plans for a framework for contribution claims. The European Parliament has postponed its vote on strengthening the bloc’s renewable energy targets amidst renewed squabbling between member states, notably over the role of nuclear power in such schemes. Australia’s Clean Energy Regulator has halted issuances of Australian Carbon Credit Units for 180 human-induced regeneration projects. Singapore has signed a memorandum of understanding to work on bilateral carbon credit deals with Kenya under Article 6 of the Paris Agreement.
Looking to the future, experts suggest that demand for biodiversity credits will increase over the next two years. Meanwhile, Tanzania has signed a memorandum of understanding with a Singapore-based holding company to progress what could be the largest carbon credit project in Africa. Researchers have also found that only 13% of global methane pollution is regulated, with methane pollution rising at its fastest rate since the 1980s, while landfill-produced methane contributes the same amount of environmental pollution as around 80 coal-fired power plants.