COP29 opens with approval of global carbon credit trade rules

Quick Summary:

The COP29 presidency called this an early win, but the fast-tracked decision-making process has drawn criticism from civil society and legal experts.

The Article 6.4 mechanism under the Paris Agreement has been approved.

We offer a range of subscription plans.Article 6.4, a section under the Paris Agreement which lays out the foundation for countries to trade carbon credits, has been one of the longest-standing disputes at the COP negotiations due to disagreements on the integrity of these rules, or how to ensure any promised emissions reductions are additional and can be easily verified.

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Article Details

Author / Journalist: Hannah Alcoseba Fernandez

Category: EconomyBusiness

Markets: SingaporeAzerbaijanGuineaMalaysiaPapua New Guinea

Topics: Financing Carbon trading Paris Agreement Fossil fuels UNFCCC COP28 Carbon credits Climate finance UN COP COP29 Climate Carbon offsetting Indigenous peoples Emissions

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 03:20:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1520 words

Reading Time: 9 minutes read

Sentences: 55 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 23603399

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