Dear ,

It's an understatement that October has been eventful for the voluntary carbon market and with the upcoming COP27 and the expectation of significant Article 6 developments we are looking forward to even busier November.

Here's our summary of what Abatable has been up to and some of the major news in the industry.

• REDD.plus - A green idea but too many red flags remains
  The recent trend of sovereign carbon has received some criticism from the market. According to Deutshe Bank this is expected to become a major asset class, but multiple quality and additionality remain as outlined in this article from Throve Research.
  Read more (Throve Research | Free
  

• India clarifies the role of carbon offsets
  India has submitted its updated Nationally Determined Contribution (NDC), emphasising that it is a step forward towards its long-term goal of reaching net zero by 2070. The country is not looking to ban the sale of its carbon credits abroad but national needs will be prioritised to fulfil the country's climate commitments
  Read more (UNFCCC | Free)

• ICAO announces 2050 net zero target for the aviation industry
  The plan, seen as a compromise by many, was accepted by the 193 countries who are members of ICAO. While this is a positive development a recent report states that European air carriers are purchasing VERs with questionable environmental integrity and failing to provide enough transparency about their carbon credit practices.
  Read more (BBC | Free)

• SBTi has published its first Forest, Land and Agriculture (FLAG) guidance for companies in land-intensive sectors to set science-based targets
  Companies will be able to set FLAG targets in addition to their energy and industry focused Net Zero targets. FLAG pathways are innovative in that they allow companies to leverage removals to meet their targets. We expect that the guidance will be an important push towards insetting. 
  Read more (SBTi | Free)

• The Glasgow Financial Alliance for Net Zero changes requirements to prevent major US banks to leave the alliance
  The banks' legal departments were anxious about U.S. Securities and Exchange Commission (SEC) rules around climate-risk disclosures and fear that remaining in the alliance could expose them to potential lawsuits by the commission. Previously the alliance required members to partner with Race to Zero, the UN-backed campaign but now has dropped the requirement.
  Read more (Investment Week | Free)