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Azerbaijan's COP29 presidency celebrated a significant early achievement by swiftly approving controversial rules for a new UN carbon market, aiming to facilitate climate action funding. However, critics expressed concerns over the rushed decision-making process and the potential for dubious emission reductions, emphasizing the need for further scrutiny and development of essential market components before trading can commence.
Verra, the leading certifier of carbon credits, plans to expedite project reviews despite significant staff cuts, raising concerns about the integrity of its verification process. The new risk-based approach categorizes projects by risk level, but critics warn that reduced scrutiny could lead to more questionable projects being approved. Recent controversies surrounding Verra's past approvals highlight the need for enhanced oversight as it navigates a credibility crisis while aiming to streamline operations.
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20:03 12.11.2024
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