Coral’s Post

This week, Aon is at #COP29 where countries endorsed a global framework to standardize and expand carbon markets – a notable step in the global effort to reduce greenhouse gas emissions. With growth expected in 2025, Aon is committed to supporting carbon markets through risk mitigation, which in turn helps organizations unlock much-needed capital. Read more on the framework in Reuters: https://bit.ly/3YM9Jxj

🇦🇿 With COP29 Azerbaijan fast approaching, Article 6 of the Paris Agreement has emerged as a critical framework for future carbon markets, with the potential to drive much-needed transparency, trust, and cooperation in emissions reduction. This article offers valuable insights into Article 6’s mechanisms, including the establishment of a United Nations-backed global carbon market and the innovative use of digital platforms for quality assurance. It’s a crucial read for those interested in how structured finance and cutting-edge technology can drive sustainable change. 🌱 I will be available for meetings and events about climate and carbon markets in both the #BlueZone 🔵 and the #GreenZone 🟢. I will communicate the Blue Zone events we are involved in over the coming days. 👉🏼 Read the full article for a deep dive into this important topic: https://lnkd.in/eAY85eAx #ClimateFinance #CarbonMarkets #Article6 #COP29 #Sustainability #Innovation #ClimateFintech #GreenFinance #COP29Baku #COP29Azerbaijan #ClimateAction #ClimateActionInnovationZone Climate Action #InnovationZone Climate Action Innovation Zone

🌍 As the world prepares for #COP29, the Integrity Council is committed to raising the standard for international carbon markets. In our latest blog, we highlight why high-integrity carbon credits are vital to accelerating climate action and meeting the Paris Agreement’s targets. 💬 Our Core Carbon Principles (CCPs) have set the first independent global standard for high-quality verified carbon credits, ensuring that they deliver genuine, measurable, and lasting impacts. They help to unlock private finance to the local level that's needed to scale real climate solutions, especially in regions on the front lines of the #ClimateCrisis. 🌱 From supporting #SustainableDevelopment and #biodiversity protection to promoting #Indigenous stewardship of critical ecosystems, high-integrity carbon markets offer a pathway to impactful, inclusive climate action. Learn more about our role and how we stand ready to lead this effort at COP29 and beyond: 🔗 https://lnkd.in/eyFHKSrV The stakes are high, and the time to act is now. #COP29 #ClimateAction #CarbonMarkets #ClimateFinance #IntegrityCouncil #Biodiversity #IndigenousRights #NetZero

🌍 At #COP29, countries took a historic step forward by agreeing on standards for a UN carbon market—a milestone that previous COPs struggled to achieve. The discussions at COP29 are now focused on the technical elements needed to implement Article 6 of the Paris Agreement, which governs international carbon markets. But what exactly makes carbon markets such a powerful tool for climate action? 🤔 Here are 5 ways carbon markets drive climate action: 👇 Incentivizing Emission Reductions: By assigning a value to carbon, companies and countries are financially motivated to reduce their greenhouse gas emissions and invest in cleaner technologies. Channeling Investment into Climate Projects: Carbon markets create a mechanism for funding renewable energy, reforestation, and other climate-friendly projects that might otherwise lack financial support. Facilitating Global Cooperation: Through Internationally Transferred Mitigation Outcomes (ITMOs), countries can collaborate, allowing those with lower mitigation costs to sell their excess reductions to others needing them. Enhancing Transparency and Accountability: Clear, standardized rules ensure that every ton of carbon offset is tracked, reported, and verified, increasing trust and ensuring real climate impact. Accelerating Net Zero Targets: By providing an economic incentive for emission reductions, carbon markets help businesses and nations meet their net-zero commitments more cost-effectively. As negotiations continue, it's exciting to see the potential of carbon markets to unlock innovation and drive climate action on a global scale. Let's keep the momentum going! 💪🌱 ------------------------------------------------- Connect with me, Madeeha Anwar Husain Anwar Husain, for more valuable insights!! #linkedin #sustainability #climateaction #climatechange

The key to making #carboncredits work is to ensure that  projects financed by credits provide additional and permanent carbon removals that wouldn't have been achieved without credits. That's the work that still needs to be done. My take in @corporateknight.

🌍 As the world prepares for #COP29, the Integrity Council is committed to raising the standard for international carbon markets. In our latest blog, we highlight why high-integrity carbon credits are vital to accelerating climate action and meeting the Paris Agreement’s targets. 💬 Our Core Carbon Principles (CCPs) have set the first independent global standard for high-quality verified carbon credits, ensuring that they deliver genuine, measurable, and lasting impacts. They help to unlock private finance to the local level that's needed to scale real climate solutions, especially in regions on the front lines of the #ClimateCrisis. 🌱 From supporting #SustainableDevelopment and #biodiversity protection to promoting Indigenous stewardship of critical ecosystems, high-integrity carbon markets offer a pathway to impactful, inclusive climate action. Learn more about our role at COP29b and how we stand ready to lead this effort at COP29 and beyond. The stakes are high, and the time to act is now. 🔗 https://lnkd.in/eyFHKSrV #COP29 #ClimateAction #CarbonMarkets #ClimateFinance #IntegrityCouncil #Biodiversity #IndigenousRights #NetZero

COP29: A New Era for Carbon Markets Begins A significant milestone has been achieved at COP29 with the approval of the Article 6.4 mechanism. This groundbreaking development paves the way for countries to engage in carbon emission reduction trades, fostering international cooperation in addressing climate change. By facilitating these trades, higher-emitting economies can work towards achieving their Nationally Determined Contributions (NDCs) under the Paris Agreement. Simultaneously, developing countries will receive much-needed financial support to implement carbon reduction projects and protect vital carbon sinks. As stated by Mukhtar Babayev, President of COP29, "By matching buyers and sellers efficiently, such markets could reduce the cost of implementing NDCs by 250 billion dollars a year." This innovative approach holds the potential to accelerate climate action and drive sustainable development. While the approval of Article 6.4 is a major step forward, it's important to address concerns raised by environmental organizations regarding the potential for human rights violations and environmental harm. Transparent and robust oversight will be crucial to ensure the integrity of the carbon market and its positive impact on the planet. #COP29 #ClimateChange #CarbonMarket #Sustainability #ClimateAction #ParisAgreement #NDC #CarbonEmissions #ClimateFinance

Among COP29's limited accomplishments was a new global framework for carbon credits. While some in the climate movement celebrated the announcement, others say it fails to solve the problems of the existing system. With this new framework, stagnating carbon credit markets could see fresh growth, reports Eugene Ellmen. But big emitters can still use the system to meet their climate pledges without doing the real work of reducing their greenhouse gas emissions. According to Carbon Market Watch, the COP29 guidelines will create “cowboy carbon markets at a time when the world needs a sheriff." Environmental Defense Fund The Integrity Council for the Voluntary Carbon Market (ICVCM) Dr Injy Johnstone Science Based Targets initiative International Advisory Panel on Biodiversity Credits An Lambrechts https://lnkd.in/eaAVSeEw

At COP29, countries agreed to strong standards for a centralised carbon market, operated under the UN. This moment marked the product of over 10 years of negotiations. Speaking at a press conference, Yalchin Rafiyev, COP29 Lead Negotiator, said "When operational, these carbon markets will help countries implement their climate plans faster and cheaper, driving down emissions." Experts believe that the agreement reached on Monday could allow the global market to start up as soon as next year - allowing large scale action by countries to invest in solutions that are accelerating Global Net Zero. The Voluntary Carbon Market will continue to be a place for companies to take individual action to reach their net zero targets. And with an estimated 93% of companies needing to invest outside their value chains to meet their Net Zero goals, its vital that businesses continue to balance their [carbon] books.
 Reduce and Invest. https://lnkd.in/gtEksH4S #CarbonMarkets #Article6 #COP29 #CarbonCredits #Offsets #ReduceANDInvest

#COP29 - Key Outcomes: The 29th UN Climate Conference in Baku addressed critical issues such as carbon credits, climate finance and CBAM. While progress was made, challenges such as securing adequate climate financing at the international level remain unresolved. Here are some takeaways: 1️⃣ Agreement on Carbon Credits A key outcome of COP29 was the agreement on emissions trading under Article 6 of the Paris Agreement. This framework aims to create a transparent, global marketplace for carbon credits that support initiatives such as reforestation, habitat conservation, or renewable energy deployment. 2️⃣ Climate Finance Remains Sensitive Issue Developed countries have pledged $300 billion annually by 2035 to help developing countries fight climate change. With $1.3 trillion needed annually, the private sector will play a critical role in bridging the gap through sustainable investments. 3️⃣ Controversial Debate on CBAM The EU's Carbon Border Adjustment Mechanism (CBAM) has been criticized by emerging economies as protectionist. Efforts from China and India to put the trade and climate implications of CBAM on the COP agenda were rejected by the EU, which argued that these discussions belong at the World Trade Organization (WTO), leaving the debate unresolved. 4️⃣ Advancements in Sustainability Reporting EFRAG and CDP highlighted the strong interoperability between the CDP framework and the European Sustainability Reporting Standards (ESRS). A detailed mapping report is expected in early 2025, ahead of the CDP disclosure cycle. This alignment will allow companies to meet the requirements of both frameworks through a single reporting process, reducing the administrative burden and minimizing data inconsistencies. 5️⃣ Transition Plans Become Increasingly Important COP29 underscored the importance of credible and transparent transition plans, with clear short- and long-term goals, as a cornerstone of sustainable transformation for companies seeking to remain resilient and grow their businesses. With regulatory frameworks such as the CSRD and CSDDD requiring companies to develop transition plans and outline strategies to achieve GHG emission reduction targets, companies have the opportunity to use these mandates as a catalyst to advance their long-term sustainability strategy. What does this mean for businesses? COP29 reaffirmed the opportunities in green energy and carbon markets, while delays in fossil fuel divestment decisions add some uncertainty. But overall, the message for companies is clear: proactive climate action is essential to remain competitive, capitalize on investment opportunities, and meet compliance requirements in diverse markets. 📌 Read more insights from COP29 here: