{
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negotiators reach agreement on global carbon market at cop29 summit

COP29 negotiators reached a significant milestone by agreeing on rules for a UN-administered global carbon market, aimed at facilitating emissions trading and financing mitigation projects in developing countries. COP29 President Mukhtar Babayev emphasized the importance of these rules, stating they could reduce the cost of implementing nationally determined contributions (NDCs) by $250 billion annually. However, climate groups raised concerns about transparency and the handling of reversal risks in carbon projects, indicating that significant issues remain.
Bloomberg.com
United States Dollar Carbon Market Watch AZE Jennifer A Dlouhy Isa Mulder Mukhtar Babayev Show more
Regulatory & Legal, News Article
19:16 11.11.2024
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