background image

Campaigners react to adoption of carbon credit rules

author image

By illuminem briefings

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: COP29 adopted rules for Article 6 of the Paris Agreement, setting up carbon markets where countries can trade emissions reductions as credits
Intended to reduce overall emissions costs, this “breakthrough” sparked immediate criticism from campaigners concerned about the efficacy and ethics of such markets

🔭 The context: Article 6 allows countries to offset emissions by purchasing carbon credits from nations or projects that have cut emissions
It proposes two trading paths: bilateral deals between nations or a UN-regulated global market
The mechanism has faced delays over transparency and the risk of exploiting vulnerable communities

🌍 Why it matters for the planet: Proponents argue that Article 6 could mobilize climate finance and make emissions reductions more affordable, with up to $250 billion in annual savings projected
Critics, however, fear carbon markets will undermine meaningful emissions cuts and increase social inequalities, particularly for Indigenous and vulnerable communities

⏭️ What's next: COP29 will further refine carbon market rules, particularly for bilateral agreements and UN oversight
If finalised, Article 6 could reduce costs for national climate plans, but activists are pressing for stronger human rights safeguards to avoid exploitation

💬 One quote: "This sends a bad signal…carbon markets…will increase inequalities, infringe on human rights, and hinder real climate action,” warns Ilan Zugman, Latin America Director of 350.org.

📈 One stat: The UN estimates carbon market implementation could reduce climate action costs by $250 billion annually

Click for more news covering the latest on carbon market

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices


Related Posts


You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)