article thumbnail

New framework for CO2 offsets could create "cowboy carbon markets," critics warn

Corporate Knights

Among the limited accomplishments of COP29 last week was the approval of a long-awaited and controversial global framework for carbon offsets. Others warned that the agreement doesn't fix big mistakes that carbon trading has made in the past. The shutdown is a sign that buyers and traders have cooled on carbon offsets.

article thumbnail

What does digital art have to do with sustainability?

GreenBiz

A Paris Agreement for blockchain. On April 7, a coalition led by Energy Web announced the Crypto Climate Accord , modeled loosely on the Paris Agreement. Like the Paris Agreement, this broad pact is pathway-agnostic. For instance, carbon offsets.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

HSBC is latest bank to pledge net-zero financed emissions by mid-century

GreenBiz

While the pledge provides limited detail on the measures it will take to slash the carbon emissions of its portfolio or operations, the bank said it would establish "clear, measurable pathways" to net-zero using the Paris Agreement's Capital Transition Assessment Tool (PACTA). Pull Quote. Finance & Investing.

Net Zero 402
article thumbnail

Breakthrough International Agreement Reached at COP29 to Advance Global Carbon Market

ESG Today

Delegates at the ongoing UN Climate Change Conference (COP29) achieved an important breakthrough on the first day of the event in Baku, Azerbaijan, reaching consensus on standards for the creation of carbon credits under Article 6.4 of the Paris Agreement, key for advancing the establishment and growth of a global carbon market.

article thumbnail

Carbon markets could help the planet, but only if Indigenous land rights are recognized

Corporate Knights

Carbon markets are trading systems through which countries, businesses, individuals or other entities buy or sell units of greenhouse gas emissions. These markets facilitate carbon offsetting — compensating for carbon dioxide emissions in one location by reducing or removing emissions elsewhere. Communities at risk.

article thumbnail

Strategy firm BCG pledges net-zero impact, eyes ‘carbon positive’ future

GreenBiz

It’s also planning an investment push that will see it fund carbon removal projects at an expected cost of $35 per metric ton in 2025, increasing to $80 per metric ton in 2030 — far higher than the amount companies traditionally pay to purchase carbon offsets on voluntary markets. .

Net Zero 428
article thumbnail

3 big trends headlining a tumultuous year in food

GreenBiz

When experts at CDP, a nonprofit that tracks sustainability commitments, surveyed 479 food and ag companies , only 75 reported having emissions commitments in line with the Paris Agreement. If so, should we be building an offsets market around soil credits? The situation is worse for deforestation.