Envoys representing more than 190 nations are set to decide on rules for a new UN-overseen emissions market that offers investors greater certainty. DUBAI – Climate negotiators at COP28 may bolster carbon trading when they decide on rules for a new United Nations-overseen emissions market that can lower the cost of fighting global warming.
In Dubai, envoys representing more than 190 nations are set to discuss standards for credits that allow their holders to compensate for pollution at home by investing in projects elsewhere to cut emissions or remove carbon dioxide from the atmosphere. The UN-sponsored programme aims to ensure high quality credits within an internationally agreed framework, offering investors greater certainty amid concerns that some existing voluntary projects do little or nothing to curb climate change. “At COP28, regulators can help create demand by embracing acceptable quality standards that give voluntary buyers confidence,” said Mr Benedikt von Butler, portfolio manager at Evolution Environmental Asset Managemen