S2E5: Avoidance, removals and reduction: What blocks agreement on carbon markets at COP29?

Nov 4, 2024

20:34

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International carbon markets can help to channel funding to developing countries and help them take action to tackle climate change.

Synopsis: Every first and third Tuesday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.

What is the difference between carbon avoidance, removal or reduction? This question is one of a few key ones holding up global consensus on the establishment of a global carbon credit programme under Article 6 the Paris Agreement. At the UN climate conference COP29, which will be held in Baku, Azerbaijan, from Nov 11 to 22, negotiators will be hammering out the details to enable this programme to be implemented. Article 6 of the Paris Agreement allows countries to cooperate with one another to achieve their climate targets, such as through carbon markets.

What are the differences between these three terms, and why are they so contentious? To find out more about the roadblocks hindering an agreement on carbon markets at COP29, hosts Audrey Tan and David Fogarty chat with Mr Anshari Rahman, director of policy and analytics and investment firm GenZero. Mr Anshari was a former climate negotiator on Article 6 with the Singapore Government.

Highlights of conversation (click/tap above):

2:08 What is Article 6 all about?

4:07 Why is Article 6 important for South-east Asia?

7:42 What are the main sticking points of negotiations on Article 6?

9:33 What are the issues surrounding the varying definitions of carbon avoidance, removal, or reduction?

13:58 What are the other benefits that Article 6 can deliver?

Follow Audrey Tan on LinkedIn: https://str.sg/848W

Read her articles: https://str.sg/JLM2

Follow David Fogarty on X: https://str.sg/JLM6

Read his articles: https://str.sg/JLMu

Hosts: Audrey Tan (audreyt@sph.com.sg) & David Fogarty (dfogarty@sph.com.sg)

Produced and edited by: Eden Soh