COP29 in Azerbaijan set key rules for carbon credit trading, boosting the global carbon market. Early adopters like Japan, Singapore, and South Korea aim to meet climate goals, while ASEAN explores a regional approach for emissions reduction and economic growth.
The 29th UN Climate Conference in Azerbaijan marked a major step forward for the global carbon market by establishing clear rules for carbon credit trading and emissions reduction projects. These guidelines aim to boost international cooperation and climate finance.
Japan and Singapore have already launched initiatives, while South Korea plans to meet part of its 2030 climate targets through international mitigation efforts. ASEAN is also exploring a regional carbon market, promising substantial emissions reductions and economic benefits.
The COP29 framework provides the foundation for expanding climate finance and fostering private sector investment, driving progress toward global climate goals.
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The first side event of the Global South NGO Platform, initiated by Azerbaijan, was held in Bonn, Germany this week.
The second day of the annual June Climate Meetings in Bonn focused on preparations for the upcoming COP30 conference.
Azerbaijan is calling for closer regional cooperation with Central Asian neighbors to confront the escalating climate crisis in the Caspian Sea, said Mukhtar Babayev, Azerbaijan’s presidential climate envoy and COP29 President, in an interview with The Times of Central Asia.
Azerbaijan is advancing its global climate leadership with an ambitious new initiative to expand climate financing to $1.3 trillion, in collaboration with Brazil, following the landmark COP29 summit held in Baku.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Media accreditation is now open for COP30, the United Nations Climate Change Conference, set to take place in Belém, Brazil in 2025.
China is battling an unprecedented power surge, as temperatures push electricity demand beyond 1.5 billion kilowatts. Officials warn the real test is still to come, with risks of power rationing looming.
Monsoon rains in northern India has pushed the death toll past 100, claiming the lives of 104 people in in Himachal Pradesh, injuring 189, and left 35 missing, according to officials.
The Brazilian government has responded to growing concerns over accommodation for participants of the upcoming UN Climate Change Conference, COP30, set to take place this November in the heart of the Amazon rainforest, in the city of Belém.
The International Air Transport Association on Wednesday stepped up criticism of the European Union's sustainable aviation fuel mandate as a costly initiative that is not helping the environment as regional supplies there remain low.
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