INTERVIEW: Article 6 decision marks ‘fundamental’ shift in landscape for project developers
The breakthrough on Article 6, achieved in Baku last month, will have a huge impact on the ground in terms of project development, according to executives at a global association for the sector.
Read MoreANALYSIS: International carbon markets now “open for business” but patience needed before scale hits
UN-approved international carbon markets are now ready to fully operationalise, following the landmark decision to finalise Article 6 in Baku, but questions over demand, and a robust methodological work programme scheduled for 2025, means it may take years until the planned implementation produces credit transactions at scale.
Read MoreCOMMENT: After COP29, companies can no longer sit on the sidelines
As COP29 concludes, the progress on Article 6.4 signals potential for a robust global carbon market, but with a $1 trillion annual funding gap, companies must step up, leveraging emerging solutions like streamlined carbon credit auctions to decarbonise and secure a competitive, sustainable future.
Read MoreLATAM Roundup: Road to Belem paved with carbon market intentions after landmark Article 6 decision
As this year’s COP29 climate summit in Baku, Azerbaijan concludes with landmark decisions clinching the operationalisation of Article 6.2 and 6.4 carbon markets – with Brazil said to have played a key diplomatic role – expectations for COP30 in Belem, Brazil have highlighted the rise of Article 6 as a priority for the region.
Read MoreCOP29: Reactions to the new Baku Finance Goal, Article 6 deal
Here are selected party, stakeholder, and expert reactions to the New Collective Quantified Goal on climate finance (NCQG), dubbed the Baku Finance Goal, as well as the agreement on Article 6 reached at the COP29 climate summit, which wrapped up early Sunday.
Read MoreCOP29: Baku closes with frustration over new $300 bln climate finance goal, omission of fossil fuels
Wealthy countries will aim to shore up $300 billion per year of climate finance by 2035, as the core part of a global annual economy-wide target of $1.3 trillion, under a contentious agreement struck early Sunday morning at the close of COP29.
Read MoreCOP29: Countries clinch Article 6 deal in momentous win for international carbon markets
Negotiators from nearly 200 countries have reached a historic agreement on international carbon markets at COP29, in a decision that finally concludes the rules governing the trading and crediting of mitigation outcomes under Article 6 of the Paris Agreement.
Read MoreCOP29: Countries on cusp of historic Article 6 deal in Baku as final texts land
Negotiators from nearly 200 countries could be on the verge of a historic agreement on international carbon markets at COP29, after presidency proposal texts were published late on Friday and multiple sources said that consensus may now be present on the key outstanding technicalities of international carbon trade under Article 6.
Read MoreCOP29: New climate finance goal proposal offers $250 bln by 2035
A new climate finance goal of $250 billion by 2035 was proposed in a draft presidency text published on Friday at COP29, falling well below the $1.3 trillion figure requested by developing nations, while provisions that would encourage carbon markets were deleted.
Read MoreCOP29: Roundup for Day 12 – Nov. 22
It is Day 12 at COP29 in Baku – the final scheduled day in Baku. New texts on climate finance and Article 6, as well as other streams, are expected to drop from midday, though the state of play on the NCQG is that the goal appears to be in disarray. This in turn is threatening a previously-expected deal on carbon markets. Buckle up! In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT+4).
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