Seventeen nations back New Zealand declaration on carbon markets
New Zealand, in the waning minutes of the Paris climate summit, issued a declaration supporting carbon markets, in a move backed by 17 countries and aimed at boosting lawmaker and investor confidence in the future of emissions trading schemes.There are a few other ideas coming out of Paris that look to be remunerative, more to come but for one of them you'll need an NGO and some goats so maybe joining IETA and trading carbon is easier.
New Zealand, one of the five or six countries that have so far said it will rely on access to international carbon units to meet its 2030 climate pledge, worked on the sidelines of the Paris talks to drum up support for its declaration.
The statement, read by New Zealand negotiator Kay Harrison late on Saturday after the Paris Agreement had been agreed, was endorsed by Australia, Canada, Chile, Colombia, Germany, Iceland, Indonesia, Italy, Japan, Mexico, Netherlands, Panama, Papua New Guinea, South Korea, Senegal, Ukraine and the United States.
The declaration read as follows:
“We warmly welcome the Paris Agreement and particularly its recognition of voluntary cooperation between parties in delivering their nationally determined mitigation contributions.
We highlight the important role international market mechanisms will play in enhancing mitigation ambition and facilitating the delivery of mitigation contributions under the Paris Agreement.
We are committed to environmental integrity, transparency and the avoidance of double-counting when market mechanisms are used. Through this declaration we want to send a clear signal to the global carbon market and provide certainty that there is an important role for markets in the post-2020 period...MORE
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