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Emerging Worldwide Carbon Marketplace (Segment 1). UN Conference tackles 11 challenging questions for implementation.
Date:
Today is Thursday, June 6, 2024.
Starting on Monday, June 3rd, the UN Climate Change Conference, referred to as the 60th Sessions of the Subsidiary Bodies (SB60), has been taking place in Bonn, Germany.
During his opening remarks, Simon Stiell, the UN Climate Change Executive Secretary, emphasized the need to advance Article 6 to improve carbon markets here in Bonn.
Within just a few weeks, there has been another significant advancement in the global alignment towards a robust carbon credits value chain. This follows IETA's release of the "Guidelines for Using High Integrity Carbon Credits," UNIDROIT's in-depth examination of the Legal Nature of Voluntary Carbon Credits—highlighting concerns raised by China—and a major move by the United States to support high-integrity voluntary carbon markets (*).
During a three-hour meeting on the opening day of SB60, the Supervisory Body for Article 6.4 of the United Nations continued its discussions with Parties and stakeholders.
"Our goal in gathering the different Parties and stakeholders today was to facilitate a candid and transparent conversation, allowing us to identify inclusive solutions before COP29," stated Maria AlJishi, who chairs the Article 6.4 Supervisory Body.
We will continue and conclude these discussions in the second part of this article tomorrow.
Before we wrap up, a mention of Mexico, which hit the news this week due to the election of a new president.
Previously, she contributed to the Intergovernmental Panel on Climate Change (IPCC) as an author from Mexico. The IPCC is a prominent global organization dedicated to evaluating climate change. For those interested, you can find the results of her efforts in the “Working Group III: Mitigation of Climate Change” section of the “IPCC Fourth Assessment Report: Climate Change 2007”.
(*) Carbon Credit Markets is developing a platform to evaluate the reliability of carbon credits. If you wish to provide documentation or conduct due diligence for your area, please email [email protected] with the subject line “Integrity Marketplace”.
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