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.
At the COP29 climate conference in Baku, negotiators need to fix Article 6 carbon markets but, most importantly, they need to fix the world’s failure to slash emissions.
Many of the lofty announcements made at last year’s COP28 climate conference in Dubai have yet translate into action weeks ahead of COP29 in Baku.
The latest round of UN climate negotiations in Bonn has laid the groundwork for the power players to finally agree at COP29 on transparency and wider quality issues of Article 6 carbon markets. Our CMW team reports.
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