Nelson A. Switzer’s Post

COP29: Nations approve the standards for the creation of UN-backed Carbon Credits Markets 🌏 COP29 kicked off today with a major win for climate finance. COP29 Parties have reached a consensus on standards for the creation of carbon credits under Article 6.4 of the Paris Agreement, paving the way for a global system for trading carbon offset credits. This will also allow for higher emitting countries to reach their climate goals by facilitating the flow of funds towards developing countries, considered to have the potential to develop carbon projects or protect existing carbon sinks. Sources: Reuters, COP29 Read the article: https://lnkd.in/dR9-Nd84 Learn more about carbon credits: https://lnkd.in/dTpy_c_r #COP29 #Baku #ClimateFinance #CarbonCredits #ParisAgreement #Article6 #ESGNews #Sustainability

Good news on Day 1: #COP29 approves the creation on standards for #carboncredits under article 6.4 of the #ParisAgreement. “Parties reach consensus on standards for the creation of carbon credits under Article 6.4 of the Paris Agreement, in sign of early momentum. COP29 President opens summit with plan to enhance ambition and enable action. COP29 will “test our commitment to the multilateral climate system” upon end of the first decade after the Paris Agreement. COP29 top negotiating priority is a new climate finance goal. Realistic goal for what the public sector can directly provide and mobilise seems to be in the “hundreds of billions”.” #leadonclimate

Today, COP29 opened with early momentum as nations reached consensus on standards for creating carbon credits under Article 6.4 of the Paris Agreement. This step promises greater transparency and increased demand in the carbon market, making it a game-changer for climate finance. COP29 President Mukhtar Babayev emphasized the urgency of accelerating climate action, calling it a "moment of truth" for global commitment. His focus: setting a new, ambitious climate finance goal to meet growing needs, projected in the hundreds of billions, while recognizing that climate finance is essential for all countries—not charity. Key priorities: - Operationalize Article 6 to reduce implementation costs of climate plans by $250 billion per year. - Establish a New Collective Quantified Goal on climate finance to support developing countries. - Encourage countries to submit stronger climate commitments, adapt to a warming world, and report transparently on progress. Mr. Babayev’s powerful message: “The world is on a road to ruin if we don’t act now.” Let's embrace this call to action. 🌱 https://lnkd.in/eVkrHByJ #COP29 #CarbonCredits #ClimateInvesting #Sustainability

We’re pleased to see progress at COP29 with the finalisation of the rules for international carbon markets under Article 6.4 of the Paris Agreement. This breakthrough allows countries to trade carbon credits. A positive step forward in our collective efforts to tackle climate change. https://lnkd.in/eVkrHByJ #COP29 #ClimateAction #CarbonMarkets #ParisAgreement

Today, COP29 opened with early momentum as nations reached consensus on standards for creating carbon credits under Article 6.4 of the Paris Agreement. This step promises greater transparency and increased demand in the carbon market, making it a game-changer for climate finance. COP29 President Mukhtar Babayev emphasized the urgency of accelerating climate action, calling it a "moment of truth" for global commitment. His focus: setting a new, ambitious climate finance goal to meet growing needs, projected in the hundreds of billions, while recognizing that climate finance is essential for all countries—not charity. Key priorities: - Operationalize Article 6 to reduce implementation costs of climate plans by $250 billion per year. - Establish a New Collective Quantified Goal on climate finance to support developing countries. - Encourage countries to submit stronger climate commitments, adapt to a warming world, and report transparently on progress. Mr. Babayev’s powerful message: “The world is on a road to ruin if we don’t act now.” Let's embrace this call to action. 🌱 https://lnkd.in/gGp8U5tq #COP29 #CarbonCredits #ClimateInvesting #Sustainability

COP29 in Baku today made a major breakthrough, setting clear standards for carbon credits under Article 6.4 of the Paris Agreement. This is a huge step for global climate action, bringing integrity and demand to the carbon market. For CCUS, this is a game-changer. With these standards in place, CCUS projects can attract more investment, using carbon credits to fuel the scaling we need to reach climate goals. It’s a big win for moving carbon management forward worldwide! #Article6.4 #COP29 #CarbonMarkets #CCUS

The opening of COP29 Azerbaijan has achieved a key milestone: consensus on carbon credit standards under Article 6.4 of the Paris Agreement. This historic agreement strengthens the integrity of international carbon markets and unlocks vital resources for developing nations. COP29 President Mukhtar Babayev stated, "The breakthroughs in Baku have now begun. But there is much more to deliver." With climate finance and emissions reductions at the forefront, Babayev urged global leaders to act decisively, warning that current policies risk catastrophic warming. Read the full article to uncover the critical negotiations, bold calls to action, and the path forward for a sustainable future. #EnergyConnects #COP29 #energynews #energyindustry #news #oott #sustainability

COPs has historically been a disappointment for many Pacific Islanders who have sacrificed their time, resource and energy. But they continue to power on each year because if they don’t than who will, if the Pacific is not represented than how will big emitters know the devastating impact that the climate crisis has on our people. I’m blessed to be here reporting at COP29 once again, and before the opening much more is happening on the background. #COP29 #Pacific #ClimateJustice #FinanceCOP Please find below my pre-COP story.

COP29 President Anticipates Climate Finance Breakthrough In Azerbaijan - https://lnkd.in/eRUbN9TF The road to COP29, this year's United Nations Climate Summit in Baku, Azerbaijan, feels like the buildup to a long-awaited climax after years of polarized debate on financing climate action for the world’s most vulnerable countries. Against a global backdrop of geopolitical, economic, and social instability, the COP29 Presidency

🌍 Preparing for COP29 in Baku: Key Highlights 🌍 As we look ahead to COP29 this November in Baku, here are five key highlights from the recent Bonn Climate Change Conference: Climate Finance: Progress towards a New Collective Quantified Goal on climate finance, with a draft decision framework in the works and a high-level dialogue set for October. Adaptation and Resilience: Significant strides in creating scientifically sound adaptation indicators and pushing for all developing countries to have National Adaptation Plans (NAPs) by 2025. Carbon Markets: Advances in technical aspects of Article 6, preparing for better-functioning international carbon markets. Transparency: Upcoming Enhanced Transparency Framework tools and a new Climate Data Hub to support data tracking and reporting for developing countries. NDC Ambition: Launch of the NDC 3.0 Navigator to help countries develop ambitious Nationally Determined Contributions aligned with the 1.5 °C limit. These milestones mark important steps towards our collective climate goals. Let's continue to push for ambitious and actionable outcomes at COP29! 💪🌱 #COP29 #ClimateAction #Sustainability #UNClimateChange