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A Florida-headquartered company that plugs abandoned oil and gas wells to reduce methane emissions and generate carbon credits has replaced its CEO and has made an acquisition through a subsidiary.

The European Commission said on Monday that it plans to monitor the potential for carbon leakage from the extension of the bloc’s ETS to the maritime sector, aiming to ease the concerns of several member states who urged the bloc to delay the inclusion of international shipping.

A recently signed Australia-Tuvalu citizenship agreement offers people displaced by climate change a chance to ‘move with dignity’. But staying with dignity has to be an option too. Dalila Gharbaoui, Postdoctoral Climate Crisis Research Fellow, University of Canterbury Licensed as Creative Commons – attribution, no derivatives.

The US Commodity Futures Trading Commission (CFTC) published on Monday a set of principles for voluntary carbon credit derivatives contracts for trade on CFTC-regulated exchanges, a document flagged earlier in the day by the CFTC's chairperson at COP28 in Dubai.

Carbon credit trade remained brisk in the voluntary market in the last week of November amid end of year covering, although the REDD sector continued to cast a shadow over the brighter future promised by the headlines emerging from COP28 in sunny Dubai.

On the heels of a declaration by countries seeking to triple nuclear energy capacity, a group of non-profit policy advocacies launched a report on Monday on the sidelines of COP28 in Dubai with guidelines for the development of new international initiatives for the sector.

The Cop28 president, Sultan Al Jaber, held a surprise press conference at which he said comments he made about the phasing out of fossil fuels were 'misrepresented'. The Guardian reported how Jaber had remarked that there was 'no scientific evidence' indicating a phase-out of fossil fuels was needed to restrict global heating to 1.5C. Jaber, who is CEO of the UAE's state oil company Adnoc, defended the comments he made during a virtual meeting on 21 November with the former Irish president and UN climate convoy Mary Robinson. Jaber said: 'Let’s just clarify where I stand on the science … I honestly think there is some confusion out there and misrepresentation.'

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• Cop28 president forced into defence of fossil fuel phaseout claims

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A tech company inked a deal with the Democratic Republic of the Congo (DRC) on Monday to invest $40 million in the measurement and valuation of the country's natural assets for potential carbon and biodiversity crediting.

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Demand for Australian Carbon Credit Units (ACCUs) is likely to rise as more sectors of Australia’s economy are subject to decarbonisation policies, market observers told a panel discussion at COP28 in Dubai.

A clash over carbon removals at COP28 is threatening to stall progress on developing the UN crediting mechanism, as some country negotiators wish to reopen talks over a key set of recommendations agreed ahead of the summit, which would could see a year of work "wasted", according to multiple sources.

Climate events such as the annual UN summit are moving rapidly towards becoming a place to debate issues with international trade negotiations, a banker told a panel discussion at COP28.

Heavy dependence on carbon capture and storage (CCS) would be “hugely economically damaging”, costing nations globally around $1 trillion per year compared to an approach more strongly focused on renewable energy, a new report has found.

The government of South Korea should introduce more measures to improve the efficiency of the domestic emissions trading scheme (ETS), engaging more investors to participate in the market by setting a reference price, a panel heard Monday.

Co-leader of EU delegation at Cop28 says climate should be at centre of all financial and economic decisions

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If fossil fuel companies are serious about tackling the climate crisis, they could contribute to funds for poor and vulnerable countries stricken by its effects, Spain’s environment minister has said.

Teresa Ribera, a co-leader of the EU delegation at the Cop28 UN climate summit in Dubai, said: “Private corporates should be stepping into a different development model in vulnerable countries. We went through some language on that that was broadly supported by all [EU] member states, which is: why not just start by an invitation to the oil and gas companies to dedicate part of the profits to invest in sustainable development of the most vulnerable countries. And that’s on a voluntary basis [at first], because why not?”

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An international initiative is seeking to replicate Australia’s successful savanna burning methodology to African nations and use the projects to generate Article 6 carbon credits, a COP28 side event heard Monday.

Switzerland's international carbon trade project in Vanuatu has a lock-in price that is too low, officials from the Pacific Island nation told Carbon Pulse on the sidelines of COP28, though the host country remains optimistic about its involvement with Article 6.

‘We need you,’ says Scientist Rebellion, which includes authors of IPCC reports on climate breakdown, as diplomats meet for Cop28

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Wolfgang Cramer’s first involvement with the Intergovernmental Panel on Climate Change was in the 90s. He worked on the second assessment report, delivered in 1995, which affirmed the science of anthropogenic climate breakdown. At that point, no one could say they did not know what was happening.

Almost three decades on, Cramer was part of the international scientific team that prepared the sixth IPCC report. Its conclusion, delivered in March, issued human civilisation a bleak “final warning” – the biosphere stands on the brink of irrevocable damage.

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Sultan Al Jaber, who is state oil CEO, had said phase-out of fossil fuels would take world ‘back into caves’

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The president of Cop28 has been forced into a fierce defence of his views on climate science, after the Guardian revealed his comment that there was “no science out there, or no scenario out there, that says that the phase-out of fossil fuel is what’s going to achieve 1.5C”.

Sultan Al Jaber, who is also the chief executive of the United Arab Emirates’ state oil company, Adnoc, said at a hastily arranged press conference at the summit in Dubai: “I respect the science in everything I do. I have repeatedly said that it is the science that has guided the principles or strategy as Cop28 president. We have always built everything, every step of the way, on the science, on the facts.”

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The Southeast Asian nation of Timor-Leste is preparing regulations and a national registry to govern voluntary carbon market projects in the country in preparation to eventually host Article 6 projects within its borders, an official told a panel discussion at COP28.