Rules finalised at COP29 will make sure carbon credits enable more ambitious climate goals while delivering benefits to local communities
Azerbaijan presidency claims Article 6 could help countries save $250 billion a year – but experts warn UN carbon trading is still some way off
Developers of carbon credit projects will have to carry out a risk assessment and minimise any social or environmental impacts
Fossil fuel companies that built gas power plants more than a decade ago are hoping for rewards from a new carbon credit market
Renewable energy schemes make up four-fifths of Kyoto-era projects hoping to keep selling offsets under Article 6, sparking concerns over the credibility of the new market.
The US and EU couldn’t agree on common rules for bilateral carbon trades in Dubai, leaving a vacuum for voluntary certifiers
The EU and allies rejected proposed carbon trading rules that followed a “light-touch” approach favoured by the US
As carbon credits face intense scrutiny, negotiators will wrangle over how to ensure the integrity of a new global carbon market
The German chancellor resisted calls to announce an increased climate finance pledge at the Petersberg Climate Dialogue, her last before leaving office in September
In its national climate plan, Cuba indicated it would like to sell carbon credits on an international market, a concept previously opposed by socialist allies