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Carbon Trading and COP – Can it be Different this Time around

The negotiators are in the process of nailing down a deal that is in pursuit for the last six years. Read on.

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Carbon Trading and COP – Can it be Different this Time around

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  1. Carbon Trading and COP – Can it be Different this Time around Bloomberg reports that according to Alok Sharma, the President of COP, the Glasgow climate talks will get tougher. The reason cited is that the negotiators are in the process of nailing down a deal that has been underway for the last six years and being chased. Getting a deal on international carbon market trading is the main benchmark of success at the summit COP26 being held. It would also be a major success for an issue that has been due ever since Paris Agreement was signed in the year 2015. It is all about Article Six and two types of carbon trading. The first one is carbon credits exchanges from one country to another in which one country will pay to another so that emissions are cut on its behalf. The second one is an offset traded by the private and public players. According to Bloomberg News, an agreement that is designed well would not only help in cutting the emissions but also rake up to $1 trillion of investment in the poorer countries and foster low carbon innovations.

  2. But if the rules are too casual and lax, it would allow countries to emit more than they should. However, there is a tendency for the rules to be nailed down and it is not just because the planet is getting warmer faster. There is a lot of demand for the offsets and more change in hands as far as credits are concerned, the first in eight months of the current year as compared to 2020, as per BloombergNEF, as the governments and the corporations incur billions of dollars so that the net-zero targets can be met. However, there are no unified international oversights or standards, that allow for ample room for abuse. The low-quality offsets contribute very little or not at all towards the slow climate change. The Glasgow meet objective is to instill rigor and transparency to the market that is in a state of a mess across the globe.

  3. You can read the full content: https://businessupside.com/2021/11/07/carbon-trading-and-cop-can-it-be-different- this-time-around/ -------------------------- Business Upside Email ID: support@businessupside.com Phone No.: +1-425-605-0775 Visit Us: https://www.businessupside.com/ Stay Connected Via: https://www.facebook.com/businessupside https://www.youtube.com/channel/UCuSkeS5oU- B2tRIBDYntmaw https://twitter.com/BusinessUpside1

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