Dubai, UAE, November 26, 2024 – The carbon trading deal at COP29 has sparked concerns among climate experts and activists. The deal is based on rules under Article 6, which governs global carbon markets. While there were some positive changes, the overall framework lacks accountability and transparency, according to critics.
One major flaw is the limited oversight of carbon credit trading. This allows countries to potentially trade low-quality credits, undermining the market’s ability to effectively combat climate change. The absence of stringent monitoring raises doubts about the system’s integrity.
Environmental advocates worry that this leniency could delay urgent action to reduce emissions. With no strict penalties for non-compliance, the deal might encourage countries to rely on trading instead of reducing their own emissions.
Ultimately, the COP29 carbon trading deal may fall short of its intended goals. While it offers some flexibility, it risks hindering progress by allowing the continued use of ineffective credits without significant oversight.
