At COP29 in Baku, Azerbaijan, new rules were established for the global carbon credit market, aiming to improve quality standards and ensure that credits represent real and verifiable reductions in greenhouse gas emissions.
At COP29 in Baku, Azerbaijan, new rules were established for the global carbon credit market, aiming to improve quality standards and ensure that credits represent real and verifiable reductions in greenhouse gas emissions. Main changes to quality standards: 1. Methodological requirements: Previously: Methodologies for carbon credit projects varied by program or country, with no global standardization. Now: A unified standard has been adopted that defines clear requirements for project development and evaluation, ensuring consistency and scientific rigor. 2. Greenhouse Gas Removal Activities: Previously: There was little clarity on the criteria for projects that remove greenhouse gases from the atmosphere, such as reforestation or carbon capture. Now: Specific requirements have been established for these activities, ensuring that removals are permanent and adequately monitored. 3. Social and Environmental Safeguards: Before: Safeguards varied, and not all projects comprehensively considered social and environmental impacts. Now: Mandatory safeguards were implemented to identify and mitigate potential negative impacts, and to promote contributions to the Sustainable Development Goals (SDGs). 4. Transparency and Monitoring: Before: Transparency in transactions and monitoring of projects was inconsistent, making it difficult to verify emissions reductions. Now: Robust monitoring, reporting and verification mechanisms were in place, ensuring that reductions are real and documented. 5. Protection of Human Rights: Before: The protection of the rights of local communities was not always considered in carbon credit projects. Now: The new rules strengthen the rights of local populations, allowing them to challenge initiatives that may negatively affect them. These changes seek to increase the integrity and effectiveness of the carbon market, ensuring that traded credits reflect genuine emissions reductions and promote social and environmental benefits. #Sustentabilidade #CréditosDeCarbono #REDD #ESG #CarbonoNeutral #Carbocash