Atlantic Council's Climate Resilience Center’s Post

COP29 opened with a significant breakthrough in implementing the Paris Agreement as parties agreed on the standards for the establishment of a global carbon market. Now, the pressing question is how effective this market will work in practice to meet global emissions goals while ensuring the most vulnerable countries are not left behind. 🌱Read more in my new article for the Atlantic Council's Climate Resilience Center linked here: https://bit.ly/3Zal3DR

🎉 Breaking news from COP29: The conference of the parties to the Paris Agreement (CMA) has officially approved the new standards on methodologies and removals for the Article 6.4 Mechanism, setting the stage for a global carbon market. After years of standstill, this means that we now can work towards an official international stage for countries and companies to trade carbon credits. 👏 This development is encouraging for carbon dioxide removal (CDR), giving the world one more tool to meet global climate targets. More on Article 6.4 in our up-to-date Policy Tracker entry. 👉 https://lnkd.in/eUA6g9FN #Article6 #ParisAgreement #COP29

A solid explainer from my former colleagues at Reuters on #COP29 - worth a read for anyone following the latest on climate negotiations. Stay tuned: COP29 keen to secure an early "win" on Article 6, much like the Loss and Damage win in Dubai last year. #climatechange #parisagreement #sustainability

🌱The carbon credit rules were approved at COP29! 🍀On the first day of COP29, the rules governing carbon credit trading between countries were approved. Under the approved rules, developed countries will be able to postpone more expensive emission reduction measures in their own countries and contribute to lower-cost climate projects in developing countries. 🍀Additionally, the aim is to establish a global carbon market under the supervision of the United Nations, where carbon credit trading can take place. . . . #co2manager #co2 #cop29

The 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) is taking place from November 11 to 22. Global leaders and diplomats from across the world will descend on the capital Baku, Azerbaijan for the annual climate summit to discuss how to avoid increasing threats from climate change. This is a very elementary read to know_ What is a carbon credit? What is Article 6?

Parties at COP29 can not even agree on an agenda, how can we expect any negotiations to go ahead? In short, LMDC countries such as China, India and Africa want to talk about only climate finance, whereas UK, US, EU, LDC etc want to discuss all stocktake outcomes (e.g. 'transitioning away from fossil fuels') #COP29

Very helpful to learn about how this part of international carbon trading works!

COP29 is off to a messy start. Countries are rolling in with massive VIP delegations. The same ones that keep saying, “We can’t afford climate action.” If there’s money for fancy hotels and photo ops, There’s money for action. And then there’s the other mess: Fossil fuel interests are all over this conference. An investigation exposed officials setting up oil deals during the summit. The presence of fossil fuel deals at a climate summit shows just how broken the system is. We need accountability, not hypocrisy! Sure, Azerbaijan’s sustainability efforts deserve appreciation But 40,000+ attendees? The emissions from that alone are off the charts. Here's what I suggest need to happen ▪️ Own Your Emissions If COP29 is serious about climate action, It needs to start with transparency. Measure the emissions from this event. Offset them. And share with the world. ▪️ No Free Pass for Slackers Countries that refuse to enforce climate laws shouldn’t be here. No progress at home? No seat at the table. Let’s stop pretending everyone is equally committed. ▪️ Commitments that Count Pledges are useless without consequences. Agreements must be enforceable. If a country doesn’t deliver - there should be penalties. ▪️ Kick Fossil Fuel Interests Out Climate talks should be about solutions, not profits. Fossil fuel lobbyists don’t belong here. Their agenda only delays the action we desperately need. Because here’s the truth: The world doesn’t need more speeches or flashy campaigns. It needs bold action. And if COP29 can’t deliver that, It’s just another expensive stage for theatrics. And lets put an end to that! ------------------------------------------------------------------------------- So, what are your expectations from COP29? Let’s hear them in the comments. Image: From a protest against COP 29 #ClimateAction #COP29 #TimeToDeliver #Azerbaijan

Countries at the UN #COP29 climate summit in #Azerbaijan will attempt to agree on rules for a global system for trading carbon offset credits. What is a carbon credit? #Climatesummit #Climatechange #Carbonemissions https://trib.al/D3N2aNy

Both the COP 29 annual meeting dedicated to climate action, and its biodiversity counterpart COP 16, take place in the coming weeks. In a year when politics and the impacts of climate change have sometimes conflicted, accelerating global coordination and finance is increasingly urgent. Expectations for both meetings are low, but the potential is huge. Key takeaways: - COP 29 and its biodiversity counterpart COP 16 come at a time when new global temperature records have reinforced the urgency of climate action. - COP 29 is being billed as the “finance” COP, but expectations of meaningful progress appear modest. - Clarification on financing the transition, climate pressures on health, and the role of technology will be key topics. - The conference will set the tone for the next wave of sovereigns’ climate action plans. By Matt Christensen, Global Head of Sustainable and Impact Investing at Allianz Global Investors #AchievingSustainability #Sustainability #COP29 #COP16