Brazil is emerging as a significant alternative supplier of resources, including food and renewable energy, due to disruptions caused by the war in Ukraine and increased demand, despite continuing investments in fossil fuels like oil and gas. Brazil's role in the world economy is growing, attracting investments and partnerships with countries facing the challenges of climate change. However, Brazil is also seeking a neutral geopolitical stance and maintaining relations with Russia, while aiming to diversify its trade relations beyond China.
Bad carbon credits are edging out good ones in the carbon offset market, posing a significant challenge in the efforts to reduce greenhouse gas emissions and combat climate change.
Indonesia's financial regulator has issued rules on the establishment of a carbon exchange to launch onshore carbon trading by the end of the year, as part of efforts to cut emissions and achieve net-zero emissions by 2060, allowing for cross-border trade in a cap-and-trade system using certificates quantifying greenhouse gas reduction.
The voluntary carbon market can help mobilize public sector finance towards NbS in the Global South.
The voluntary carbon markets have experienced a decline for the first time in at least seven years, with companies reducing their purchases and concerns arising about the effectiveness of forest protection projects in delivering emissions savings. This decline has negative implications for poorer nations reliant on funds from multinational companies for climate mitigation projects.
A Nigerian environmental activist criticizes carbon markets as "bogus solutions" and calls for richer countries to reduce their own emissions instead of using Africa's green spaces as offsets.
Saudi Arabia is actively seeking to exchange experience with nations worldwide to achieve carbon neutrality by 2060 and ensure sustainable development, with a focus on economic, social, and environmental sustainability.
The voluntary carbon markets need a new approach to incentives in order to encourage wider corporate adoption, according to a practical guide for corporations.
China's voluntary carbon market, known as the China Certified Emission Reduction (CCER) scheme, has the potential to become the world's most influential carbon offset standard and play a pivotal role in global carbon trading, but it needs to address issues of integrity and quality to gain international acclaim.
Carbon prices are spreading globally, with a quarter of global emissions now covered by carbon pricing schemes, as more countries embrace the mechanism to fight climate change at the lowest possible cost.
The voluntary carbon market is expected to become a smaller part of a larger carbon ecosystem as governments implement binding measures to price carbon, according to the co-founders of ACX, a carbon-focused trading exchange. Compliance markets are growing in value and are likely to dominate the carbon market, driven by regional standards set by governments. The EU's Carbon Border Adjustment Mechanism is also expected to accelerate the commoditization and financialization of carbon. ACX plans to expand its network globally and trade other environmental assets in addition to carbon.
Japan's Tokyo Stock Exchange has started trading carbon credits as part of its strategy to tackle climate change and achieve carbon neutrality by 2050, allowing companies to buy and sell credits more easily and providing transparency in carbon pricing.
