COP29: “Is it a joke?” — Climate finance splits persist as negotiators await new text
Developing countries have rebuffed the idea of a $200 billion annual climate finance target for wealthy government coffers, calling it a “joke” as ministers rushed to bridge persistent differences in the last stretch of COP29 negotiations on Wednesday.
Read MoreDATA DIVE: The carbon projects poised to profit if Article 6 gets over the line in Baku
With hopes of a breakthrough on Article 6 remaining high as COP29 races towards its conclusion, data from first-moving countries and projects reveals a market poised to make full use of Article 6 carbon trading once market dynamics are fully operationalised.
Read MoreCOP29: Correspondingly adjusted carbon credits trading at $7-22, says market analytics firm
Article 6.2 or CORSIA-eligible carbon credits are currently trading in the $7-22 range, with prices expected to peak in 2027 and stabilise by 2030, according to a market specialist speaking to Carbon Pulse on the sidelines of COP29.
Read MoreCOP29: GGGI to support Uzbekistan promote carbon markets, implement Article 6
The Global Green Growth Institute (GGGI) has signed an agreement with Uzbekistan at COP29 in Baku, to promote carbon markets and support the implementation of Article 6 under the Paris Agreement.
Read MoreCOP29: New Article 6 texts seek final bridge over troubled registry waters
Fresh Article 6 draft negotiating texts were published late on Tuesday with the Azerbaijan COP29 presidency looking to speed through a carbon markets outcome in Baku, as parties edged closer to consensus on the thorny registries issue.
Read MoreCOP29: BRIEFING – Decision on COP31 host likely to be delayed, as Australia continues push
The decision on whether to host COP31 in Turkiye or Australia has reached an “impasse”, according to observers, as both countries continue to promote themselves as prospective hosts for the 2026 annual UN climate summit.
Read MoreCOP29: Zambia’s carbon markets bill explicit on fees, vague on integrity
A Zambian climate bill up for public consultation this month, publicised on Monday, lists several layers of government approval and fees for carbon trading but does not elaborate on its high-level principles for environmental integrity.
Read MoreCOP29: INTERVIEW – Namibia’s draft regulations on compliance carbon markets to be out next year
The Namibian government will release draft carbon market regulations in 2025, once it has clarity of the rules underpinning the UN’s international market mechanism, an official told Carbon Pulse at the COP29 climate summit in Baku.
Read MoreCOP29: INTERVIEW – Uganda backs Article 6 where voluntary market, foreign contributions fall short
Uganda is looking to Article 6 projects to help finance sustainable development, particularly given the limitations of the voluntary carbon market (VCM) and international finance goals, a senior official told Carbon Pulse on the sidelines of COP29.
Read MoreCOP29: Senegal gears up for Article 6 with Norway deal, national policies -official
Senegal’s environment ministry is preparing to leverage Article 6 carbon markets in support of national and international climate goals, according to statements made on Tuesday by a senior official at the COP29 global climate summit in Baku, Azerbaijan.
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