Countries at COP29 in Baku approved carbon credit quality standards, paving the way for a U.N.-backed global carbon market to launch next year. The move aims to fund emission-reducing projects, though critics argue it lacks protections for impacted communities.
Countries at the two-week COP29 climate summit gave the go-ahead on Monday (11 November) to carbon credit quality standards which are critical to launching a U.N.-backed global carbon market that would fund projects that reduce greenhouse gas emissions.
The green light was an early deal on the opening day of the U.N. conference in Baku, Azerbaijan.
The deal on Article 6.4 of the Paris Agreement could allow a U.N.-backed global carbon market, which has been years in the making, to start up as soon as next year, one negotiator said.
Carbon credits theoretically allow countries or companies to pay for projects anywhere on the planet that reduce CO2 emissions or remove it from the atmosphere and use credits generated by those projects to offset their own emissions.
Examples of projects could include cultivation of CO2-absorbing mangroves, or distribution of clean stoves to replace polluting methods of cooking in poor rural communities.
The market could be one route for U.S. companies to keep participating in global efforts to address climate change, even if Trump were to quit the Paris accord. If that happened, U.S. firms could still buy credits from the U.N.-backed market to meet their voluntary climate targets.
While the standards approved in Baku were aimed at allaying concerns that many projects do not deliver the climate benefits they claim, campaigners said they fell short in areas including protecting the human rights of communities affected by projects.
Israel reportedly launched a fresh wave of attacks on Iran on Friday (20 March), a day after U.S. President Donald...
The trailer for Spider-Man: Brand New Day has officially become the most-watched trailer of all time, racking up 718.6 million views in its first 2...
Georgia’s relationship with the European Union is coming under increasing strain, as Members of the European Parliament openly criticise both...
Carlos Ray “Chuck” Norris, the martial artist, actor and cultural icon best known for his roles in action films and the long-running CB...
A U.S. federal arts body has approved the design of a 24-karat gold commemorative coin featuring President Dona...
Some changes are immediately visible: new turbines on the steppe, solar panels on rooftops, and figures in reports. Other changes mature in silence - but transform everything. Azerbaijan, for decades associated with black gold, is now writing a new chapter.
Azerbaijani non-governmental organisations have called on U.S. President Donald Trump to reject an appeal by the U.S.-based Lemkin Institute for Genocide Prevention. The appeal urges Washington to pressure Azerbaijan to release detainees of Armenian origin, including Ruben Vardanyan.
The United Nations Framework Convention on Climate Change (UNFCCC) has formally recognised Azerbaijan’s strong organisation and effective delivery of COP29, paving the way for deeper cooperation and the involvement of Azerbaijani specialists in future global climate initiatives.
On September 1, Azerbaijani President Ilham Aliyev met with Maldives President Mohamed Muizzu in Tianjin, China, to strengthen economic, trade, and tourism ties between the two nations.
U.S. President Donald Trump said Israel struck Iran’s South Pars gas field without U.S. or Qatari involvement, and warned that any Iranian attack on Qatar would prompt massive retaliation. The comments come as regional tensions soar after Tehran fired missiles at Gulf energy sites.
Israel reportedly launched a fresh wave of attacks on Iran on Friday (20 March), a day after U.S. President Donald Trump told it not to repeat its strikes on Iranian natural gas infrastructure, which sharply escalated the U.S.-Israeli war on Iran.
Carlos Ray “Chuck” Norris, the martial artist, actor and cultural icon best known for his roles in action films and the long-running CBS series Walker, Texas Ranger, has died at the age of 86.
Transport groups across the Philippines launched a nationwide strike on Thursday in protest against rising oil prices. The action affected 15 to 20 protest centres in Metro Manila, with similar demonstrations taking place across several major provinces.
Hungarian Prime Minister Viktor Orbán has refused to lift his opposition to a €90 billion ($104 billion) European Union loan to help Ukraine keep up its fight against Russia’s invasion, following a meeting of EU leaders in Brussels on Thursday (19 March).
The death toll from heavy rains and flooding in Brazil’s Minas Gerais state has risen to 46, authorities said, with 21 people still reported missing. The storms triggered landslides and widespread flooding, displacing thousands across Juiz de Fora and Uba.
The administration of U.S. President Donald Trump on Thursday (12 February) announced the repeal of a scientific finding that greenhouse gas emissions endanger human health, and eliminated federal tailpipe emissions standards for cars and trucks.
Tropical Cyclone Gezani has killed at least 31 people and left four others missing after tearing through eastern Madagascar, the government said on Wednesday, with the island nation’s second-largest city bearing the brunt of the destruction.
Rivers and reservoirs across Spain and Portugal were on the verge of overflowing on Wednesday as a new weather front pounded the Iberian peninsula, compounding damage from last week's Storm Kristin.
Morocco has evacuated more than 100,000 people from four provinces after heavy rainfall triggered flash floods across several northern regions, the Interior Ministry said on Wednesday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment