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During the lead up to COP30 in Belem, Brazil, 29 new Nationally Determined Contributions (NDCs) were submitted, covering over 45% of global emissions. Key updates from China, Indonesia, and Türkiye reveal mixed progress toward 2035 climate goals, with varying alignment to IPCC's 1.5°C pathway.

A leaked draft document from the EU Commission seen by Fastmarkets on Monday November 17 outlines provisional benchmark rates that could be coming under the EU’s forthcoming Carbon Border Adjustment Mechanism (CBAM).

Major announcements at COP30 in Belém, Brazil are reshaping expectations for global climate finance, forest protection and international carbon markets, with governments, multilateral lenders and corporates signalling new levels of ambition.

The European green steel market, crucial for meeting the EU's climate goals, faces challenges from high input costs, economic pressures, and trade uncertainties, while transitioning to low-carbon production methods like hydrogen-based steelmaking offers a pathway to near-zero emissions.

China will expand its national emissions trading system (ETS) to new sectors and introduce absolute carbon caps under an updated climate plan submitted to the UN Framework Convention on Climate Change (UNFCCC) on Monday November 3.

The European Commission has confirmed that CBAM indirect emissions will not be included for metals products under the upcoming Carbon Border Adjustment Mechanism (CBAM), while pre-consumer scrap is set to become a standalone CBAM product, EU Commission representative Martin Becker said during the European Roundtable on Climate Change and Sustainable Transition (ERCST) webinar on Thursday October 30.

The United Nations Framework Convention on Climate Change (UNFCC) has approved its first methodology under Article 6.4, also known as the Paris Agreement Crediting Mechanism (PACM), the UNFCC announced on Thursday October 30.

The latest updates (Oct) in the global carbon markets spotlight major advancements in REDD+ and carbon credit frameworks. From Indonesia and Verra’s mutual recognition agreement unlocking paused REDD+ projects, to Katingan credits driving strong market demand

The following prices were affected: CB-CC-0001 REDD+, Latin America, $ per tCO2e CB-CC-0002 REDD+ v19 differential, Latin America, $ per tCO2e CB-CC-0003 REDD+ v20 differential, Latin America, $ per tCO2e CB-CC-0004 REDD+ v21 differential, Latin America, $ per tCO2e CB-CC-0005 REDD+, Sub-Saharan Africa, $ per tCO2e CB-CC-0006 REDD+ v19 differential, Sub-Saharan Africa, $ per tCO2e CB-CC-0007 REDD+ v20 differential, Sub-Saharan Africa, $ […]