CO2 Management AS’ Post

Today, the International Aluminium Institute (IAI) announced progress in its Aluminium Industry Greenhouse Gas Initiative, reporting member company ambitions, technology investments, and reporting plans. Launched at COP28 in December 2023, this initiative tracks and publicly reports the greenhouse gas reduction ambitions and progress of IAI member companies, encouraging further steps in the sector’s efforts to address climate change. Key Highlights: 👉 80% of IAI members have set long-term targets, many at net zero by mid-century.  👉 Majority of companies targeting 50% reduction in Scope 1 and 2 emissions by 2030 👉 Industry investing in innovative technologies, including low-carbon power and recycling  Check out our latest dashboard reporting the progress of the Initiative ⏩ https://t.ly/gE5fw #COP29 #COP29Azerbaijan #WeAreAluminium

The International Aluminium Institute has announced progress in its Aluminium Industry Greenhouse Gas Initiative, reporting member company ambitions, technology investments, and reporting plans.This initiative tracks and publicly reports the greenhouse gas reduction ambitions and progress of IAI member companies, encouraging further steps in the sector’s efforts to address climate change. 100% of the Australian Aluminium Council's mutual Members with IAI have set long-term targets, all at net zero by 2050 ! https://lnkd.in/gRMMyzyz

🤩 It’s been a fascinating week so far at COP 29 in Baku! 🤩 Despite moderate expectations, COP started with a 🤯 bang – one of the biggest topics of conversation is the approval of a new standard under Article 6.4 of the Paris agreement. It’s a big step towards making carbon dioxide removals (CDR) into a globally tradable asset. While there is still more work to be done, what is clear is that the future of the carbon market is global, and ❗ now is the time to be investing in CDR ❗

𝗖𝗢𝗣𝟮𝟵 𝗙𝗶𝗻𝗮𝗹𝗶𝘇𝗲𝘀 𝗖𝗮𝗿𝗯𝗼𝗻 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗥𝘂𝗹𝗲𝘀 𝗨𝗻𝗱𝗲𝗿 𝗣𝗮𝗿𝗶𝘀 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁 At COP29 in Baku, global rules for carbon trading under Article 6 of the Paris Agreement were approved after a decade-long wait. The framework enables countries and companies to trade verified carbon credits from green initiatives like afforestation and renewable energy. A UN-centralized trading system will launch in 2025, reducing costs for national climate plans by $250 billion annually while ensuring transparency and preventing greenwashing. #climateaction #COP29 #CarbonMarkets #Sustainability #ParisAgreement Source:- https://lnkd.in/gB86bnvw

Scotland Beyond Net Zero academics are attending COP29, with carbon removals a key topic of today's negotiations. Carbon removals are considered necessary to achieve net-zero emissions and to tackle reductions in hard-to-abate sectors. Integrating carbon removals into existing carbon pricing policies appears to be a promising solution to support the financing of these technologies. One key issue is the risk of reversal and non-permanence of removals. At an event in Baku, Luca Taschini explains that a #CentralCarbonBank could play a crucial role here, offering a framework to address unintended consequences introduced by the integration of carbon removals.  Stephanie La Hoz Theuer ICAP Robert Jeszke The National Centre for Emissions Management (KOBiZE) The paper is available here: https://lnkd.in/eRrFergY

Reflecting on COP29’s outcomes through the lens of our Coal-to-Clean Initiative, a key highlight of Article 6 is the transition to trustworthy carbon credits. The move from the outdated Clean Development Mechanism (CDM) to the Paris Agreement Crediting Mechanism (PACM) can help rebuild confidence in carbon markets. This solidifies pathways to finance coal-to-clean projects through monetising emissions reductions. (It also implies that countries/initiatives must avoid using discredited CDM units) What are the implications for stakeholders? Businesses: Align net-zero strategies with PACM standards and ensure carbon projects have transparency and deliver real impact Financiers: Use Article 6 to scale climate-positive investments and manage risk Energy Companies: Incorporate carbon credits to accelerate clean energy transitions and net-zero goals Michael Hayes Sharad Somani Will M. 🌍 #CoalToClean #COP29 #ClimateAction #CarbonMarkets #ParisAgreement #Sustainability

🌍 Sloooooow, then fast! Carbon Removal Standards "Launched" at COP29 🌍 After a mixed lead-up to COP29, negotiators in Baku have taken a quick-off-the-mark step forward in developing the carbon markets. Article 6.4 which relates to a UN administered carbon market have been officially "launched" with newly adopted standards for carbon removal methodologies and initial rules for private sector involvement—standards recently approved by the Supervisory Body Meeting (SBM). Why does it matter: 👩🏻🏫 When you ask people sitting on the sidelines, one of the biggest hurdles to action is a common rule book setting out what can be counted as part of action plans. 🇺🇳 This step brings an end to eight years of negotiations as UN delegates have struggled since the Paris Agreement to implement a framework which allows the private sector to invest in carbon reduction projects as part of their Paris emission reduction pledges. ⏰ This is great example on a topic that came up a lot yesterday while speaking with a group of corporate representatives about carbon markets, change doesn’t happen in a straight line… it feels slow and then suddenly comes fast. #COP29 #CarbonMarkets #Article6 #ClimateAction #Sustainability #GlobalStandards

Agreement on the UN’s Article 6 carbon market was one of the few positive results at #COP29 in Azerbaijan. However, even for seasoned Article 6 watchers and VCM (Voluntary or Verified Carbon Market) participants, the nature of the decisions that were made and their implications for states and corporates can be hard to interpret. Read our analysis on the Article 6.2 and 6.4 decisions made at COP29, discussing: 🌍 The nature of the Article 6 carbon market 🌍 What was agreed at COP29 with regard to Article 6 🌍 What’s still to come from Article 6 over the next year to COP30 and beyond 🌍 And the implications of the Article 6 agreements for the VCM Our article: https://bit.ly/41IE03d The Article 6 carbon market and its relationship to the VCM is still taking shape. Message Alex Blomfield to find out more! #EnergyTransition

From COP29: How Carbon Markets can Power EV Expansion At COP29 in Baku, significant progress was made on Articles 6.2 and 6.4 of the Paris Agreement, setting the stage for more transparent and robust carbon markets: 1. Article 6.2: Establishes standards for bilateral carbon credit trading, ensuring transparency, real-time tracking, and independent verification of emissions reductions. 2. Article 6.4: Introduces a centralized UN-governed carbon credit mechanism to enable both countries and private entities to offset emissions and trade credits. Why It Matters for EVs in Emerging Markets: EVs and their batteries are traceable and trackable. Data-rich, they are ideally suited to the emerging requirements under Article 6. Articles 6.2 and 6.4 mechanisms enhance trust in carbon markets, making it easier to channel climate finance into transformative sectors like electric mobility. With stronger, credible carbon markets, we can accelerate the transition to sustainable mobility globally, especially in emerging markets. #COP29 #ParisAgreement #CarbonMarkets #ClimateFinance #eMobility #Sustainability #MobilityCreditFund #symbiotics #electricvehicles #sustainablefinance #impactfinance #Familyoffice #SDGImpactFinance

Paris Agreement Article 6.4 On November 12, 2024, during COP 29, a significant agreement was reached on Article 6.4 of the Paris Agreement. This article establishes a central UN mechanism for trading credits from emissions reductions generated through specific projects. Here are the key developments: Adoption of Standards: The Supervisory Body adopted standards for methodologies and activities involving greenhouse gas removals. These standards are crucial for ensuring the integrity and effectiveness of the carbon market. Operationalization: The adopted standards enable the Article 6.4 mechanism to be operationalized, with remaining practical elements to be decided upon following COP 29. Global Carbon Market: Article 6.4 aims to create a global, voluntary carbon market under UN supervision, facilitating international collaboration in reducing greenhouse gas emissions. This agreement marks a significant step towards unlocking government capital for climate action and building trust in the global carbon trading system. The brief of Article 6.4 of the Paris Agreement establishes a central UN mechanism for trading credits from emissions reductions generated through specific projects. This mechanism is designed to contribute to the mitigation of greenhouse gas emissions and support sustainable development. Here are some key points: Voluntary Basis: Parties to the Paris Agreement can use this mechanism on a voluntary basis. Emissions Reduction Projects: It allows for the creation of emissions reduction projects, such as building renewable energy facilities instead of fossil fuel plants. Carbon Credits: Countries or entities can earn carbon credits for the emissions they reduce through these projects, which can then be traded internationally. Supervisory Body: The mechanism is supervised by a body established under the authority of the Conference of the Parties serving as the meeting of the Parties to the Agreement (CMA). This mechanism aims to enhance global cooperation in reducing emissions and promoting sustainable development. #COP29 Şafak Özsoy İKLİMKARBON