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Climate talks off to rocky start, but carbon mkts mechanism approved
November 12, 2024
|Hindustan Times
NEW DELHI: The COP29 climate negotiations opened in Baku on Monday with proceedings stalled for hours over disagreements on key matters on the agenda, but countries later approved new UN standards for international carbon markets in a key step towards allowing countries to trade credits to meet climate targets.
Among the early deadlock was including the scope of the United Arab Emirates (UAE) dialogue on finance under the global stocktake (GST): Whether dialogue will be limited to finance or cover all issues under GST? The opening plenary, scheduled for Monday afternoon following addresses by COP29 President Mukhtar Babayev and UN Climate head Simon Stiell, could resume only hours after intense negotiations. Some observers said requests for the agenda to also include unilateral trade measures held up talks.
Later, however, UN climate negotiations gavelled thi guidelines for carbon removals the carbon market aspect under Article 6.4 of the Paris Agreement without debate or public scrutiny.
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