UN carbon market rules adopted: How do they improve carbon credit integrity?
Standards approved this week pave the way for a centralised carbon market administered by the UNFCCC.
The Article 6.4 supervisory body has agreed on rules for eligible carbon project methodologies, treatment of carbon removals, and human rights and environmental safeguards for activities within a UN-managed carbon market.
The standards, released this week at the end of a five-day meeting of the UNFCCC supervisory body in Baku, Azerbaijan, mark a significant step in the creation of a global carbon market governed by the Paris Agreement, after years of negotiations and disagreements between countries.
They pave the way for the operationalisation of a centralised, high-integrity carbon market administered by the UN Framework Convention on Climate Change (UNFCCC) – something Chief Sustainability Officers around the world have been waiting for.
