A new Carbon Market Watch analysis, based on currently available project data, has uncovered that the first project transitioning from the CDM to the Article 6.4 market is poised to issue an astonishing 27.4 times more credits than it should as compared to the values from peer-reviewed scientific literature.
Shell was the world’s largest user of carbon credits in 2024, a year in which fossil fuel companies dominated the voluntary carbon market. This allows them to pretend they are taking significant climate action, while continuing with business as usual. Since the ratification of the Paris Agreement, companies have shifted the way they consider and …
Read more “Behind the green curtain: big oil and the voluntary carbon market”
Despite the best efforts of activists and some climate negotiators, the agreement reached on Article 6 carbon markets at COP29 in Baku risks facilitating cowboy carbon markets at a time when the world needs a sheriff.
The apparent progress made on Article 6 carbon markets during week 1 of the COP29 climate conference conceal many problematic fundamental and technical issues that remain unresolved.
In light of the Article 6.4 negotiations at COP29 in Baku, and the possibility for the Parties to the Paris Agreement (CMA) to give further guidance on the development of the Article 6.4 carbon crediting mechanism, Carbon Market Watch has prepared recommendations on CMA’s further guidance to the Article 6.4 Supervisory Body.
Article 6 is a key priority of Azerbaijan’s COP29 presidency, putting high pressure on countries to come to an agreement at the upcoming climate summit. At the same time, the role that Article 6 carbon markets play in the wider context of achieving our Paris Agreement goals hinges on the quality of the agreement. This …
Read more “Article 6 carbon markets at COP29: Carbon Market Watch’s recommendations”
Article 6 of the Paris Agreement sets out the principles for carbon markets. At COP29, governments must fix all the outstanding issues so as to ensure that Article 6 advances, rather than sets back, the climate agenda. This detailed guide explains what is at stake.
The Article 6.4 Supervisory Body aims to adopt the sustainable development (SD) tool at its next meeting in September/October. This tool is the main instrument to safeguard environmental, ecological and human rights, including the rights of Indigenous People.
A new report finds that despite improvements, serious shortcomings persist in the grievance mechanisms of the standards. These shortcomings limit the access to recourse for those adversely affected by carbon market projects.
As the line increasingly blurs between UN REDD+ and Article 6.2 carbon markets, this briefing sets the record straight. This comparison demonstrates that these two systems do not serve the same purpose and do not have comparable quality requirements. Urgent finance is needed for forest conservation, but Article 6.2 carbon markets are not the way.
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