Beautiful Virgin Islands

Friday, Jun 13, 2025

COP29's Carbon Trading Deal Faces Major Criticisms

Landmark Agreement on Carbon Credits Faces Backlash Over Serious Flaws
After nearly a decade of debate, negotiators at the COP29 climate conference in Baku have reached an agreement on global carbon trading rules.

This new deal aims to establish a system where countries and companies can purchase carbon credits to offset greenhouse gas emissions, theoretically contributing to their net-zero goals.

While the agreement is seen by some as a vital step towards certainty in carbon offsetting and could potentially channel billions into environmental initiatives, significant flaws remain.

Critics, including the Climate Land Ambition and Rights Alliance, warn that the rules could lead to 'double counting' of carbon credits and fail to protect vulnerable communities.

These shortcomings have been consistently debated at past COP meetings, and were not fully resolved in Baku.

The newly defined Paris Agreement Trading Mechanism has been criticized for its approach to carbon removal, especially regarding the permanence of carbon storage.

Current methods primarily depend on forests and soils, offering only temporary carbon sequestration compared to geological storage solutions.

This issue is heightened by recent reports indicating a reduction in carbon absorption by natural ecosystems due to climate-induced droughts and wildfires.

Despite chances to strengthen the rules, the agreed-upon standards appear insufficient to handle fossil fuel emissions' longevity.

As the United Nations prepares to roll out a centralized carbon trading registry next year, countries like Australia are encouraged to reconsider land-based offsets for emissions from major sectors.

Additionally, there is a call to revise national carbon trading frameworks and refocus on emissions reduction over carbon removals as compensatory measures.

The debate over effective carbon trading strategies reflects a broader struggle in aligning international climate policy with scientific recommendations.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Pentagon Initiates Review of AUKUS Nuclear Submarine Pact
Meta to Invest $15 Billion in Scale AI to Advance AGI Goals
Rare Cancer Cases Triple Among Millennials, Alarming Doctors
G7 Finance Ministers Convene in Canada with Focus on Ukraine and Trade Tariffs
UK Spending Review Prioritizes Health and Defence Amid Budget Constraints
US Raises Security Concerns Over Proposed Chinese Embassy in London
Defined Benefit Pension Reforms Expected to Unlock Limited Investment
UK Industrial Strategy Launch Delayed Amid Budget Negotiations
Crick Institute Seeks Additional Funding to Attract International Scientists
Zia Yusuf Returns to Reform UK in New Role After Brief Resignation
Bezos's Lavish Venice Wedding Sparks Local Protests
US Urges UK to Raise Defence Spending to 5% of GDP
Europe Prepares for Historic Lunar Rover Landing
Italian Parents Seek Therapy Amid Lengthy School Holidays
British Fishing Vessel Seized by France Fined €30,000
Dutch Government Collapses Amid Migration Policy Dispute
Germany Moves to Expedite Migrant Deportations
UK Commits to 3.5% GDP Defence Spending Under NATO Pressure
Scientist Returns Royal Society Prize in Protest Over Elon Musk's Fellowship
Chancellor Proposes 'Housing Bank' and £25 Billion Social Housing Boost
UK Retail Sales Growth Slows in May Amid Consumer Caution
Home Secretary Directed to Find Budget Savings to Protect Police Funding
Rolls-Royce Secures Government Backing for UK's First Small Modular Nuclear Reactors
Domestic Buyers Capitalize on London Property Market as Non-Doms Retreat
Nvidia CEO Criticizes UK's Digital Infrastructure Amid £1 Billion AI Investment Pledge
UK Commits Additional £11.5 Billion to Sizewell C Nuclear Project
UK Unemployment Reaches Near Four-Year High as Wage Growth Slows
Chancellor Reinstates Winter Fuel Payments for Majority of Pensioners
Simone Biles and Riley Gaines Clash Over Transgender Athletes in Women's Sports
California Governor Disputes National Guard Deployment Amid Rising Tensions
Protests Erupt in Los Angeles with Symbolic Flag Burning
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
US and China Engage in Trade Discussions in London Amid Ongoing Tensions
Low Turnout Jeopardizes Italy's Citizenship Reform Referendum
EU Lawmaker Calls for Broader Exemptions in Supply Chain Legislation
France's Defense Spending Plans Threatened by High National Debt
European Small-Cap Stocks Outperform U.S. Rivals Amid Growth Revival
Switzerland Proposes $26 Billion Capital Increase for UBS
Germany's Merz Signals Continued U.S. Reliance After Meeting with Trump
Transatlantic Interest Rate Divergence Widens as Trump Pressures Powell
Sam Altman's Eye-Scanning Digital ID Project Launches in UK
Qualcomm to Acquire UK's Alphawave in $2.4 Billion Deal
Syria to Reconnect to Global Economy After 14 Years of Isolation
Trump Administration Issues New Travel Ban Targeting 12 Countries
Man Group Mandates Full-Time Office Return for Quantitative Analysts
JPMorgan Warns Analysts Against Accepting Future-Dated Job Offers
Builder.ai Faces Legal Scrutiny Amid Financial Misreporting Allegations
Japan Grapples with Rice Shortage Amid Soaring Prices
Goldman Sachs Reduces Risk Exposure Amid Market Volatility
×