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COP28: Lack of progress on Article 6 likely to further limit carbon market growth

December 14, 2023 Comments Off

In a major setback to international carbon trading, countries at the 28th UN Climate Change Conference failed to adopt key texts laid out under Article 6 of the Paris Agreement, though an agreement on non-market mechanisms was passed on Dec. 13. Parties did not reach a consensus on either Article 6.2 or Article 6.4, for a variety of technical reasons,…