U.N. rules for carbon trading between nations approved at COP29 climate talks
The Hindu
New U.N. climate rules allow wealthy nations to buy carbon offsets, raising concerns about greenwashing and transparency issues.
New rules allowing wealthy polluting countries to buy carbon-cutting "offsets" from developing nations were agreed at U.N. climate talks on Saturday (November 24, 2024), in a move already raising fears they will be used to greenwash climate targets.
Also Read: Can a COP29 deal clean up scandal-ridden carbon offsets? | Analysis
This decision, taken during extra time at the COP29 conference, is a major step forward in a thorny debate that has dragged through climate talks for years, and diplomats broke into applause when the decision was gavelled.
Supporters say a U.N.-backed framework for carbon trading could direct investment to developing nations where many credits are generated.
Critics fear if set up poorly, these schemes could undermine the world's efforts to curb global warming.
Carbon credits are generated by activities that reduce or avoid planet-heating greenhouse gas emissions, like planting trees, protecting existing carbon sinks or replacing polluting coal with clean-energy alternatives.
Also Read: Climate-threatened nations stage protest at COP29 over contentious deal
Saudi Arabia expels Iranian military staff amid escalating tensions and ongoing missile attacks during the U.S.-Israeli war on Iran.
Russia claims control of Potapivka village in Ukraine's Sumy region amid ongoing military efforts to establish a buffer zone.
Iranian missile strikes on Israeli towns cause widespread damage and injuries, marking a significant escalation in the ongoing conflict.
As Gor makes first trip as U.S. Special envoy to South Asia, Delhi watches strategic signals closely
Sergio Gor's inaugural trip as U.S. Special Envoy to South Asia signals strategic U.S. engagement amid regional tensions.
Slovenians vote in a tight election between liberal and populist candidates, impacting the country's future domestic and foreign policies.
Netanyahu asserts U.S.-Israel alliance fights Iranian threats, emphasizing global security after missile strikes on Israeli and European targets.
Israeli settlers attack Palestinian villages in the West Bank, causing injuries and destruction amid ongoing settlement expansion.
Britain asserts no evidence of Iran planning missile strikes on Europe, despite Israeli claims of missile capabilities.
UNESCO reports over half of countries have banned phones in schools due to concerns about attention, cyberbullying, and social media impact.
Analysis reveals a U.S.-operated Patriot missile likely caused a pre-dawn explosion in Bahrain, injuring numerous civilians.
Sri Lanka raises fuel prices by 25% amid ongoing West Asia conflict, impacting petrol and diesel costs significantly.
Iran strikes near Israeli nuclear research center as Trump threatens attacks on Iranian power plants
Iran's missile strikes near Israel's nuclear site escalate tensions as Trump threatens retaliation against Iranian power plants.
Saudi Arabia intercepts one of three ballistic missiles targeting Riyadh amid ongoing regional tensions and threats from Iran.