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COP29 delegates agree on new UN carbon market standards
Kenya’s Special Envoy for Climate Change, Ali Mohamed, who is also chairman of the African Group of Negotiators, addresses a gathering of global leaders at a side event on climate finance at the COP29 summit in Baku, Azerbaijan.
Delegates from over 200 countries attending the 29th Conference of Parties (COP29) have agreed on new United Nations standards on carbon markets, permitting polluters to pay for their climate-ills through credits abroad.
Carbon credits are obtained through activities that cut, or avoid greenhouse gas emissions, like planting trees, protecting carbon sinks like oceans or replacing fossil fuels such as coal, oil and gas with clean energy alternatives.
