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Carbon Markets

COP28 Outcome Stymies Trading in Voluntary Carbon Markets

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The failure of December's COP28 climate negotiations to find consensus on carbon trading issues poses a quandary for the aviation sector's efforts to decarbonize. It kicks important decisions about mechanics for the voluntary carbon market down the road to COP29 in Azerbaijan in November. Details still need be worked out to operationalize carbon trading after overarching rules for Article 6 of the Paris Agreement were agreed at COP26 in Glasgow. They include key issues such as transparency and standards for quality and integrity of carbon credits.

Topics:
COP28, Low-Carbon Policy
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