Carbon pricing is gaining ground worldwide as a cost-effective way to cut greenhouse gas emissions and drive clean growth. Building on 20 years of experience with the EU Emissions Trading System, the European Commission’s Task Force on International Carbon Pricing and Markets Diplomacy works with 25+ partner countries to advance high-integrity carbon pricing and markets policies.
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Chestnut Carbon: financing for US afforestation in the voluntary carbon market
Chestnut Carbon, a nature-based carbon removal developer, has announced the successful closing of a landmark non-recourse project finance credit facility of up to $210m – a first-of-its-kind bank financing for a US voluntary carbon removal afforestation project.
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Rules agreed for credible climate project crediting
The UN body responsible for setting up a carbon market under the Paris Agreement has adopted important new standards to guide how emission-reducing projects measure their impact. Known as the Paris Agreement Crediting Mechanism (PACM), it enables countries and other actors to work together on reducing greenhouse gas emissions by generating high-integrity carbon credits that support global efforts to fight climate change.
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UK Gov strengthens carbon markets; helps leverage capital
The UK Government has launched plans to strengthen voluntary carbon and nature markets which can help leverage the finance needed to address climate action while diversifying revenue streams.