Climate Change

COP25 / Delegates Fail To Reach Agreement On Carbon Markets

By David Dalton
16 December 2019

Delegates Fail To Reach Agreement On Carbon Markets
UN secretary-general António Guterres said he was disappointed with the results of COP25.
Delegates at the UN’s COP25 climate change conference in Madrid failed to reach consensus in many areas, including settling on rules for carbon markets and other forms of international cooperation under Article 6 of the Paris Agreement.

The idea behind carbon markets is that the most polluting countries can buy the right to pollute more from countries that have not reached their emissions limits.

Such markets are generally designed for trading in “carbon credits”. A company or country that exceeds certain carbon reduction targets can buy credits from another that does not exceed them.

What was being negotiated in Madrid, with the implementation of Article 6 of the Paris Agreement, was how to regulate existing markets.

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