Negotiation or announcement?
Voluntary carbon markets are still rife with integrity issues, but expect announcements from the private sector to continue coming up.
Two things to watch as announcements from countries:
- Under the COP26 Forest Declaration countries made a financial pledge to protect and restore forests, and some of the financial deals will now be announced
- Countries set a goal of protecting 30% of the planet for nature by 2030, which included the creation of a Global Biodiversity Fund. We may see some next steps announced around this fund at COP28.
As part of the negotiations on Article 6.8, Brazil is going to kick start more concerted negotiations into non-market based approaches for financing lower-income countries for the protection and restoration of forests.
|Key issues and countries to watch
|Latest developments and backgrounders
|3 or 4 countries will announce financial deals under the COP26 Forest Declaration
Watch for Brazil’s position on moving away from market solutions for financing forests and nature
|This Q&A from Carbon Brief is a must read on everything around carbon offsets, integrity issues, and their impacts