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#COP29 marks a milestone for #carbon markets with the adoption of crucial rules for Article 6 of the Paris Agreement. These advancements promise transparency and attractiveness for international #carboncredits. L’article COP29: Adoption of Article 6 Rules est apparu en premier sur energynews.

As COP29 wraps up, it’s clear that carbon removals are gaining the attention they deserve, but there’s more work ahead! Negative Emissions Platform staff and Members were on the ground in Baku, calling for separate targets for emissions reductions and carbon removals in climate commitments. Here are some key takeaways from COP29: 🔑 Article 6 Progress: Countries adopted key recommendations on Article 6, marking significant progress. However, critical distinctions between emissions reductions and carbon removals, as well as temporary vs. durable removals, still need to be addressed. 🏆 European Parliament Resolution Win: We applaud the European Parliament’s COP resolution, which calls for separate targets between gross emissions reductions, permanent carbon removals, and LULUCF in the upcoming revision of the Climate Law and NDCs. This step is essential to combat mitigation deterrence and signals the growing demand for carbon removal solutions. ❓ Clearing Up Confusion: While awareness of CDR is growing, misunderstandings about its role, its differences from CCS, and why we need it still linger. Our mission? To keep educating policymakers and stakeholders on  why carbon removals are crucial to net-zero pathways. 🔭 Looking Ahead to COP30: Discussions on carbon removals gained momentum, but the call for a coordinated and dedicated CDR pavilion is louder than ever. The Negative Emissions Platform is eager to support this initiative. Interested in joining forces? Get in touch to stay updated! Let’s keep pushing for the growth of carbon removals and secure their place in global climate agendas! 💪

ICYMI: At #COP29, world leaders established the foundations for #carbonmarkets under #Article6 of the Paris Agreement, but major challenges remain regarding integrity, demand, and national implementation. L’article COP29: The Future of Carbon Markets Under Article 6 Between Hope and Challenges est apparu en premier sur energynews.

At #COP29, world leaders established the foundations for #carbonmarkets under #Article6 of the Paris Agreement, but major challenges remain regarding integrity, demand, and national implementation. L’article COP29: The Future of Carbon Markets Under Article 6 Between Hope and Challenges est apparu en premier sur energynews.

🌍 Progress on Carbon Markets at COP29: A Major Step for Climate Finance 🌍 part 1 At COP29, significant progress was made under Article 6.4 of the Paris Agreement to advance the UN carbon market, focusing on standards for carbon credit methodologies and greenhouse gas removals. The Article 6.4 Supervisory Body finalized two major standards: one on methodology requirements for assessing projects, and another on carbon removal activities. These standards aim to create a consistent, transparent framework to evaluate and register emission reduction projects, establishing a robust market where credits can be traded globally. This progress, though impactful, comes with some nuances. Instead of presenting drafts to the Conference of the Parties for review, the Supervisory Body has adopted these as “Supervisory Body standards,” allowing for ongoing updates. This approach is intended to make the mechanism more adaptive to evolving climate needs, although it may invite further review and guidance from the CMA during COP29. Additionally, new elements such as a buffer pool to mitigate risks of project failure and limitations on baseline emissions to align with Paris goals were included, all aimed at ensuring the crediting mechanism contributes meaningfully to climate targets without enabling unsustainable emissions practices. What does these decisions on Art 6.4 of the PA actually mean in practice? Watch out for part 2 of this post😊. Young Energy Specialists & Development Cooperation (YES-DC) #COP29 #CarbonMarkets #ClimateFinance #ParisAgreement

The recent developments at COP29, particularly the establishment of international carbon market standards under Article 6 of the Paris Agreement, are poised to significantly impact the carbon market. These standards aim to enhance the integrity and transparency of carbon credits, thereby increasing confidence among investors and stakeholders. The operationalization of Article 6 mechanisms is anticipated to facilitate international collaboration in reducing greenhouse gas emissions, providing a structured framework for countries to engage in carbon trading. This development is likely to expand the market’s scope and accessibility, making it more inclusive and efficient. The approval of these standards is expected to attract more participants to the carbon market, including countries and corporations seeking to meet their climate targets through credible carbon credits. This influx could lead to increased demand and potentially higher prices for high-quality credits.

At COP29, nations reached a significant milestone by agreeing on new rules for a global carbon market, allowing countries to earn "carbon credits" for reducing emissions, which can then be sold to higher-polluting countries. The importance? The approval of these foundational standards marks a crucial step toward creating an international market for carbon credits, potentially driving more action on climate goals. #COP29 #CarbonMarket #ClimateAction

Two key questions for COP29 before it adjourns on Monday: 1. Financing and Investment: assuming the proposed increase in annual climate finance to $300 billion by 2035 is agreed, up from an initial $250 billion offer, What strategic climate finance opportunities emerged during COP29, and how can we access them for sustainable projects? 2. Regulatory Alignment : In light of the slow execution of agreed fossil fuel reductions in COP28, What new policies or regulations were adopted at COP29, and how do they impact our industry’s compliance obligations? #COP29 #zerocarbon #energytransition

🌍 What do the outcomes at COP29 mean for Article 6 and the future of global carbon markets? Catch up on our team's take on what's next after the gavel came down in Baku. This blog post is an edited version of an article that appeared in last week's Abatable carbon market update. Sign up to get these insights in your inbox every week by following the link in the comments. #Article6 #ParisAgreement #COP29 #ClimateChange #ClimateAction #CarbonMarkets #VCM #Baku #NDCs #CarbonTrading #Sustainability

🌍 As #COP29 approaches, the SUS-POL Research Programme has published a briefing exploring some of the emerging trends and dynamics in global supply-side climate policy. In just two weeks, global leaders will gather in Baku with hopes of making real progress on fossil fuel phase-out. Despite record-high fossil fuel emissions in 2023 and clear evidence on the need for a rapid phase-out, many countries’ production plans—especially the wealthy ones—remain completely incompatible with the goals of Paris Agreement. The briefing highlights key areas for fossil fuel phase-outs ahead of #COP29: 1️⃣ Government Policies: Some nations, like the UK, are curbing new fossil fuel licenses due to climate and economic priorities. 2️⃣ Legal Challenges: Climate litigation is rising, potentially demanding stricter assessments for fossil projects and landing incumbents in hot water. 3️⃣ Financing Shifts: While private finance flows to fossil fuels persist, public finance has slowed significantly. The Clean Energy Transition Partnership (CETP) cut public fossil financing by two-thirds in 2023 (!!!) 4️⃣ Investor-State Disputes: Treaties like the Energy Charter Treaty pose vast challenges to the phase-out, prompting states to reconsider or withdraw from them. However, this is far more easy. 5️⃣ Global Alliances: Initiatives like the Fossil Fuel Non-Proliferation Treaty Initiative and Beyond Oil & Gas Alliance are gaining momentum and could see new developments at COP29. We may also see new initiatives launched 👀 📈 Yet, resistance remains strong, fuelled by energy security concerns, pro-fossil populism, and political shifts. Locking-in robust, long-term policies and well-resourced institutions is essential to maintaining progress despite these challenges. 🔗 Read the full briefing: https://bit.ly/COP29suspol