–Two 15-yr crediting periods seen; 2050 focus
Get removing, folks.
Proposal document from UNFCCC …see below:
Key section on crediting periods appears to be decided. There are still options in relation to definitions.
‘A removal activity shall apply a crediting period for the issuance of A6.4ERs that is a maximum of 15 years renewable a maximum of twice‘
‘A shorter crediting period shall apply if specified by the host Party; The crediting period shall not start before 2021′
This document, from a Sept. 22 meeting, may also help explain why nature based carbon credits fell 9% last Friday, in a market that seems largely indicated rather than well traded on ICE.
More clarity on the new UN market, created under article 6.4 of the Paris climate deal, could boost companies that plan big businesses removing or capturing carbon dioxide, such as Occidental Petroleum.