Carbon Quantified XVI Edition: COP 28 & Removal Credits

Overview of the Sixteenth Edition:

In our sixteenth edition newsletter, our unwavering commitment to exploring pivotal sustainability topics and enhancing accountability continues to guide us on the path to a more environmentally responsible future.

COP28: Shaping the Future of Global Climate Action takes center stage in our exploration. We’ll dive into the heart of global climate action, examining the key takeaways from COP28 and how it’s shaping the future of environmental initiatives.

Next, we turn our attention to the Shift in Carbon Credit Demand: From Conventional to Removal Credits. This in-depth analysis explores the changing dynamics in the carbon credit market and the increasing demand for removal credits, marking a significant shift in climate strategies.

We’re excited to share the takeaways from our inaugural webinar, “Unlocking Plastic Credits Market: EPR and Verra Methodology Solutions.” In this enlightening event, we had prominent panelists, including Dr. Sameer Joshi, Vice Chairman of the Indian Plastic Institute, and Rachna Gampa, Senior Manager of Plastic Neutrality at Recykal, providing valuable insights into strategies for success in the carbon markets.

As we venture into the subsequent sections, you can expect profound insights, data-driven analysis, and expert perspectives that empower stakeholders to make informed decisions and drive positive environmental impact. Stay tuned for another enlightening edition.

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Calculus IQ ~ Shift in Carbon Credit Demand: From Conventional to Removal Credits

Corporate buyers have announced their intention to step back from historical credit acquisitions, despite being among the largest entities in retiring credits. This shift has had a ripple effect on sectors that typically procure large volumes of units, resulting in an overall reduction in retirement levels in 2023 compared to 2022. Transactions of durable carbon removals have increased by more than 10 times over the past few years, according to an annual report from a carbon credit ratings agency, supporting recent data from analysts that there is likely to be a strong future supply of nature-based credits from projects currently in the pipeline.

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COP28: Shaping the Future of Global Climate Action

In this article, we will explore the 28th session of the Conference of Parties to the United Nations Framework Convention on Climate Change (UNFCCC). It outlines the agenda of COP28, which includes fast-tracking the energy transition, transforming climate finance, putting nature and people at the center, and mobilizing for inclusivity. The article also highlights the main takeaways from COP27, which include the creation of the Loss and Damage Fund and the challenges for COP28, such as defining the functioning of the Loss and Damage Fund and addressing climate finance and fossil fuel phase-out issues.

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Webinar: Unlocking Plastic Credits Market: EPR and Verra Methodology Solutions

We extend our heartfelt gratitude to all who joined our recent webinar, “Unlocking the Plastic Credits Market: EPR and Verra Methodology Solutions.” This interactive event was a resounding success, thanks to your active engagement and thoughtful inquiries. Our distinguished panelists, Dr. Sameer Joshi and Rachna Gampa, provided valuable insights into the shifting landscape of the global plastic market and the synergy between Plastic Credits and EPR to accelerate our journey towards plastic neutrality.

Watch the Webinar

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New York announces largest ever investment in renewable energy

Gov. Kathy Hochul on Tuesday announced the largest-ever state investment in renewable energy in the United States. It includes offshore wind and land-based projects, totaling 6.4 gigawatts of clean energy. The governor says that’s enough to power 2.6 million homes and deliver 12% of New York’s electricity needs in 2030.

Singapore and UAE deepen collaboration to combat climate change, ink 8 agreements

Singapore and the United Arab Emirates (UAE) have committed to ensuring the most ambitious outcomes in the areas of reducing carbon emissions, adapting to climate change, and financially supporting vulnerable nations at the upcoming United Nations climate change summit.

EU Parliament passes bill hiking renewable energy targets

European Union lawmakers gave their final approval on Tuesday to legally binding targets to expand renewable energy faster this decade, a central part of Europe’s plans to curb climate change and shift away from fossil fuels.

Chevron to buy Hess Corp for $53 billion in all-stock deal

Chevron (CVX.N) has agreed to buy Hess (HES.N) for $53 billion in stock to gain a bigger U.S. oil footprint and a stake in rival Exxon Mobil’s (XOM.N) massive Guyana discoveries, the latest in a series of blockbuster U.S. oil combinations.

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