13.12.2021
One important topic at this year’s climate negotiations was the formation of procedures for international trade in climate quotas, ensuring, among other things, that double counting is avoided.
Today, the EU restricts the use of such carbon credits bought outside the EU. If climate negotiations succeed, this will increase confidence in various ‘voluntary carbon markets’ and increase demand for international projects which cut greenhouse gas emissions.
In 2021, it is expected that the turnover of such voluntary credits (i.e CO2 credits that are not directly regulated by national authorities) is expected to reach $1 billion, with a price of well below $10/tonne. The volume in voluntary markets is limited when compared with regulated quota markets, but this volume is increasing and may allow for more technology transfer to emerging economies and access to more affordable climate initiatives for countries and industries with fewer alternatives.
Forecasts the energy transition globally and in 10 world regions DnV’s annual Energy Transition Outlook (ETO) was published in September, providing an updated projection of trends around global energy consumption in the run up to 2050 and the associated climate impact. Compared with two years ago (pre-pandemic), DNV’s latest prognosis shows that it will take …
Stands by the Paris Agreement In a closing statement, the G20 states that, among other things, it stands by the Paris Agreement and its goal that global warming should be limited to ‘well below 2°C and to pursue efforts to limit it to 1.5°C above pre-industrial level’, and that this must entail ‘meaningful and targeted …
On a monthly basis, Gassnova prepares an analysis of important CCS international market trends, and what drives innovation in our focus areas. Here is the analysis for October. G20 still agrees that the Paris Agreement’s climate goals will be met At the end of October – before the climate talks in Glasgow (COP26) – the …
