Carbon Credits Market to Get a Huge Boost as Rules Relaxed

-- The world’s main verifier of corporate climate targets will let companies use carbon credits to reduce the broadest scope of their emissions, relaxing earlier guidance and galvanizing a controversial market for green finance.S&P 500 Hit by Fed-Pivot Rethink and War Jitters: Markets Wrap

“For Scope 3-heavy companies, working towards and achieving net zero under SBTi is a moonshot without some reliance on carbon credits,” he said. “For companies that aren’t currently able to meet their Scope 3 reduction targets, the flexibility to use credits will represent an opportunity to continue engaging with climate action meaningfully, and fund practicable climate solutions within the critical next decade,” she said.

“It clearly contravenes governance procedures within SBTi, as the Technical Council has not engaged on this matter yet at all subsequent to the call for evidence in the fall of last year,” Stabinsky said. “A number of Technical Council members have raised concerns internally in the hours since the publication of the statement, on both process and content of the statement.”

SBTi, in its statement, promised to develop “specific guardrails and thresholds” to ensure proper use of credits. It also said it isn’t planning to validate the quality of carbon credits. Instead, it will give organizations that do so “clear access” to the rules that it will establish around the credits’ use. SBTi expects to issue a first draft by July setting out details of when credits may be used.

VANCOUVER — The use of mass timber in British Columbia is moving up and expanding to schools, libraries and other construction. The province says it's making building-code changes allowing for the use of mass timber in buildings up to 18 storeys, an increase from the previous 12-storey limit.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Policy push for carbon removal credits lures finance, aviationExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Stock market today: Wall Street drifts near its records amid a worldwide market lullNEW YORK (AP) — Stocks are drifting around their records on Wall Street, as a lull carries through financial markets worldwide. The S&P 500 was little changed in early trading Wednesday, a day after setting an all-time high.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street holds steady as market heads toward another winning monthNEW YORK (AP) — Stocks are holding relatively steady as Wall Street coasts into the close of its latest winning month and quarter. The S&P 500 was little changed early Thursday after setting an all-time high the day before.
Source: SooToday - 🏆 8. / 85 Read more »