DECRYPTION – New international rules were adopted in Baku to regulate the compensation of CO emissions2 for countries or businesses — a key step in helping countries meet their climate obligations.
A key step in the implementation of the Paris agreement, and a winning bet for the president of COP29, Mukhtar Babaev. Monday evening, at the end of a long first day already marked by blockages and tensions, the conductor of this year's climate negotiations obtained a first agreement on a file that was hanging around in the COP boxes. for ages: the rules for implementing a new carbon credit market.
Let's go back a little, to 2015 to be exact. When countries adopted the Paris Agreement – which commits them to limiting global warming to 2°C compared to the pre-industrial era – they agreed to better regulate carbon credit markets. These financial instruments allow countries and companies to compensate…
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