The dramatic impacts of climate change are being felt worldwide, and most countries have committed to take action to avoid its worsening and adapt to its unpreventable consequences. In particular, countries signed and adopted the Paris Agreement on climate change in 2015 and designed ambitious nationally determined contributions (NDCs) to implement adaptation and mitigation actions. The NDCs require substantial funding and are part of an even more significant financial need to meet the United Nations Sustainable Development Goals (SDGs). It is estimated that between U.S.

Aon’s interactive portal, providing insights into Political Risk, Terrorism & Political Violence.

The Government of Ghana has officially authorized the transfer of mitigation outcomes under its new climate-smart rice project to Switzerland. This was announced at a side event at the ongoing Climate Change Conference (COP 27) when the Government officially presented a formal authorization letter to the United Nations Development Programme (UNDP), which has facilitated the bilateral agreement between Ghana and Switzerland.

Host countries have the ability, when authorising VERs for use under Article 6, to specify that VERs can only be used for certain use-purposes, such as use towards another country’s Nationally Determined Contribution (NDC). This means that the relevant VERs cannot not be used towards purposes not authorised by the host country.

For this reason, the Gold Standard Impact Registry attaches different attributes to VERs to reflect the extent of the authorisation provided by the host country.

Verra plans to launch an Article 6 authorization label for VCUs and associated VCS Program updates in mid-2023.

The labels and associated registry features may be further refined in Version 5 of the VCS Program.

We are of the view that consistent legal treatment of VCCs across jurisdictions could help deliver scale to the VCM but should not be regarded as a pre-condition to facilitating trading on standardized contract terms or to achieving scale. As a practical matter, we consider achieving convention on the legal treatment of VCCs across jurisdictions to be an unlikely outcome, especially in the near or medium-term, given the number of jurisdictions, legal systems and regulatory frameworks involved.

Zimbabwe is preparing to host a voluntary carbon markets forum as it targets creating a pan-African registry linked to the country's Victoria Falls Stock Exchange (VFEX).

The government now wants all carbon projects to be registered with authorities within the next two months.

It will take 50% of all revenue from carbon projects, with foreign investors limited to 30% and the balance of 20% going to local communities

Zimbabwe appears to have backed down from its threat to render "null and void" all existing carbon offset deals in the country.

The Zimbabwe government has declared all current carbon offset deals in the country "null and void" and will take a 50% revenue cut of all future contracts.