UN approves first carbon credits in a market aiming to stop global warming

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illuminem summarises for you the essential news of the day. Read the full piece on South China Morning Post or enjoy below:

🗞️ Driving the news: The United Nations has approved the first carbon credits under a new global market created by the Paris Agreement
• This allows countries and companies to offset emissions by financing projects that reduce greenhouse gases

🔭 The context: The credits come from a clean cooking project in Myanmar, supported by a South Korean company, which distributes efficient wood-burning stoves to reduce smoke, deforestation, and emissions
• The project’s carbon reductions will count toward the climate targets of both South Korea and Myanmar
• The system stems from international rules finalized at the 2024 UN climate summit to operationalize global carbon trading

🌍 Why it matters for the planet: Carbon markets are intended to channel funding into climate solutions, particularly in developing countries
• However, critics warn that poorly regulated credits could allow companies or governments to claim climate progress without actually reducing emissions, undermining global climate goals

⏭️ What’s next: UN climate bodies will continue approving projects and refining rules to ensure credits represent real, measurable, and permanent emissions reductions
• Strengthening oversight will be crucial to restoring trust after past controversies over low-quality carbon credits.

💬 One quote: “Clean cooking protects health, saves forests, cuts emissions and helps empower women and girls.” — Simon Stiell

📈 One stat: More than 2 billion people worldwide still cook using open fires or inefficient stoves, contributing to air pollution that kills millions annually

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