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.
President of Azerbaijan Ilham Aliyev received a delegation led by Mazen Torki Saud Al-Qadi, Speaker of the House of Representatives of Jordan, on 21 J...
Fuel stations in Russian-controlled Crimea stopped selling fuel to individuals and businesses from 9:00 a.m. local time on Sunday, the Russian-install...
British Prime Minister Keir Starmer has said the violent attacks in Edinburgh, Scotland, on Friday, which left five men injured, were motivated by "an...
Britain's Observer newspaper reported that Prime Minister Keir Starmer is expected to resign on Monday and outline a timetable for his departure. ...
The United States has launched an investigation into Germany's pharmaceutical pricing policies to determine whether they unfairly disadvantage America...
World Environment Day should be used as a platform to turn public awareness into concrete policy action on climate change, biodiversity loss and pollution, according to a senior United Nations environment official speaking in an interview with AnewZ's Guy Shone.
Azerbaijan continues to host a series of high-profile global events, including COP29, the World Urban Forum and upcoming World Environment Day activities, positioning itself at the centre of international climate discussions.
Azerbaijani President met with UN-Habitat Executive Director Anacláudia Rossbach in Baku on 16 May ahead of the 13th Session of the World Urban Forum (WUF13), with both sides highlighting Azerbaijan’s preparations and expanding cooperation in urban development.
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.
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of England on Friday. The passenger trains heading to London collided at around 17:15 local time (1615 GMT).
Morocco captain and PSG defender Achraf Hakimi will face trial in France after an appeals court ruled there was enough evidence for the case to proceed.
A magnitude 5.8 earthquake struck southwest of Greece’s island of Crete on Saturday, with no immediate reports of damage.
Paraguay kept their World Cup hopes alive with a hard-fought 1-0 victory over Türkiye, but the celebrations were tempered by a costly red card for veteran forward Miguel Almirón.
Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
Scientists have identified almost 166,000 square kilometres of coral reefs worldwide that appear capable of surviving and recovering from the impacts of climate change, offering new hope for some of the planet's most vulnerable marine ecosystems.
Australia's weather bureau warned on Tuesday that an El Niño weather pattern has formed in the tropical Pacific and could intensify in the second half of 2026, becoming one of the strongest events recorded in seven decades.
France’s parliament has formally recognised state responsibility for the use of the toxic pesticide chlordecone in Martinique and Guadeloupe, marking a significant step in addressing decades of environmental contamination and public health concerns.
Financial markets are significantly underestimating the economic impact of biodiversity loss, potentially leaving countries exposed to sovereign debt crises and rising borrowing costs, according to new research published on Friday.
Wildlife researchers have identified dozens of previously unknown insect species during an expedition to Angola’s remote Lisima Plateau, a conservation group announced 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