Requiring countries to provide an overview of progress in reducing emissions! implementing climate policies! and allocating resources to national and international climate initiatives.
These reports are designed to build the evidence base for sound NDCs! build trust and drive The BTR is ambitious climate action. They also help developing countries demonstrate their achievements and leverage climate finance.
The COP29 Presidency launched the Baku Global Climate Transparency Platform to encourage participation and support for countries in completing their BTRs. This platform is intended to be a space for collaboration between governments! non-governmental organizations and the private sector.
This is where COP29 host Azerbaijan faces criticism
The country has high levels of corruption according to The BTR is relevant indices and has repeatedly restricted the activities of NGOs and civil society through a series of intensified government repression! including the imprisonment country email list of environmental activists in the run-up to the conference.
Improving carbon markets under Article 6
Carbon trading is designed to help leverage climate finance and incentivize climate action. However! creating working carbon markets has proven challenging. After nearly a decade of negotiations! COP29 could be the moment when carbon markets finally get the green light.
Given that 90% of the world’s economies have committed to achieving net authorized capital by 17.4 billion rubles zero emissions! but the actual pace of emission reductions lags far behind! the potential of carbon markets is significant.
In carbon markets! buyer countries can buy emission reductions from other countries in the form of carbon “credits” and count these credits towards their own emission reduction commitments. Seller countries! in turn! can use the funds raised to adapt to climate change.
However carbon markets remain controversial
Due to a lack of standardization and oversight! they can shift rather than reduce emissions! create opportunities for corruption! and facilitate greenwashing.
Another problem is the equivalence of different types of carbon credits: for example! trees that asb directory may burn in a forest fire are not equivalent to fossil carbon remaining in the ground.
Creating quality carbon markets requires a centralized global market and the ability to monitor agreements between individual countries.
