Cop29’s new carbon market rules offer hope after scandal and deadlock

The new rules were agreed on Saturday at the Cop29 climate summit in Azerbaijan. Trading could begin as soon as 2025.The new rules were agreed on Saturday at the Cop29 climate summit in Azerbaijan. Trading could begin as soon as 2025.that has been reduced or removed from the atmosphere, was meant to target quick, cost-effective wins on climate and biodiversity.

Big concerns about carbon markets remain. In the run-up to Cop28 in Dubai last year, it emerged that vast tracts of African forest had been sold off Dr Lambert Schneider, one of the co-authors and a senior researcher at the Oeko-Institut, said these problems would undermine the Paris agreement if they spilled into the official UN system.

There have been efforts to clean up standards in the sector, which could form part of the UN market. Verra, the leading carbon credit standard which was the subject ofinto their rainforest offsets that found they were mostly worthless, is introducing a new system for generating the carbon credits. Mandy Rambharos, the non-profit’s CEO, said they were determined to get it right and move on from recent issues.“We’ve invested in millions of dollars for no guarantee of any return .

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Cop29: wealthy countries agree to raise climate finance offer to $300bn a yearEU and nations including the UK, US and Australia indicate they will make the increase in exchange for changes to a draft text, sources say
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Cop29: talks go into overtime as countries wrangle over finance dealThe talks in Azerbaijan have seen nations at odds over how much money developed countries should provide to poorer ones
منبع: GuardianAus - 🏆 1. / 98 ادامه مطلب »