News

Indonesia's Ministry of Environment and Forestry has struck a blow to the Rimba Raya project on Borneo Island, one of the world's largest carbon offset initiatives, by revoking its license due to violations of local regulations.

Thai electric bus operator, Energy Absolute, announced on Jan 8 that it had sold the first carbon offsets under a new system established by the Paris Agreement to a Swiss fossil fuel group, a major landmark for putting into action the UN climate accord.

Offsetting carbon footprint couldn’t be simpler. Changi Airport has launched a new service on its website and cell-phone application for passengers to calculate the carbon emissions and allow credit card to offset them by supporting forest-planting.

Singapore set out the eligibility criteria governing international carbon credits that companies can purchase to offset their taxable carbon emissions.

Voluntary carbon market is gaining momentum in Africa, with Tanzania revealing that it will receive over $20 billion investment for carbon offset credits.

A standard to assess cooperate’ claims about progress towards internal climate targets and their use of carbon offset credits was launched on June 28 by VCMI aiming to bring transparency and confidence to an unregulated market.

A draft document to define a new global carbon market released last month by the United Nations elevated nature-based solutions like planting trees while downplaying the role of carbon dioxide removal (CDR) via machines or other forms of technology.

A number of big companies decided to create in-house carbon credits despite criticisms against offsets.

Spanish airline Iberia has launched the CO2labora, a new carbon offsetting scheme, allowing customers to support two certified climate projects through carbon offsetting.

Using cheap carbon offsets to meet net zero targets could curb companies’ efforts to cut emissions and slow the delivery of climate goals, Britain’s climate change advisers said on Thursday.