Carbon credits can still help with decarbonisation in fragmented market: Report

  • 📰 STForeignDesk
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 71%

Business News News

Business Business Latest News,Business Business Headlines

For carbon markets to take off, players in this space need greater clarity on the factors that are shaping the market trajectory.

International carbon markets will offer Singapore another route to reduce its emissions, even as it prioritises domestic efforts to do so.

“The explores the underlying drivers that could shape the trajectory of carbon markets. We hope the insights are useful in encouraging discussion around key actions that can develop a more effective carbon market to support global decarbonisation,” he added. GenZero’s Carbon Scenarios report highlighted three scenarios, each with varying degrees of international collaboration, that show that carbon markets will still have a role in all three outcomes.

Those which are able to decarbonise their economies at lower cost, do so first, and once they have met their climate targets, they sell their excess emissions reductions to other countries which face more difficulties decarbonising. In January 2023, news outlet the Guardian published a report claiming that most nature-based carbon projects were “worthless”. Another Bloomblerg article in March 2023

However, the report pointed to numerous ongoing initiatives that could help to enhance the environmental integrity of carbon credits available in the market.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore-backed platform CAD Trust boosts transparency, covers 85% of carbon credit marketCAD Trust was founded the Singapore Government, World Bank and the International Emissions Trading Association.
Source: straits_times - 🏆 5. / 69 Read more »

Singapore-backed platform boosts transparency, covers 85% of carbon credit marketClimate Action Data Trust was founded the Singapore Government, World Bank and the International Emissions Trading Association.
Source: STForeignDesk - 🏆 4. / 71 Read more »