Green Pulse Ep 66: Article 6 - Rise of the carbon markets?

18:59 min

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

At the recent COP26 climate talks in Glasgow, Scotland, negotiators from nearly 200 nations concluded discussions on Article 6 of the Paris Agreement. This relates to carbon markets, and whether countries can trade carbon credits to meet their climate pledges — known as nationally determined contributions (NDCs).

The discussions, six years in the making, also established rules on who emissions savings accrue to, if one nation pays to set up a green initiative - say a wind farm instead of a coal plant - in another country.

But what exactly are these new rules and markets and what are some of the concerns that still remain?  To help explain what it all means for governments and investors, ST environment correspondent Audrey Tan and climate change editor David Fogarty speak with Mr Richard Saines, who is partner at Pollination, a specialist climate change investment and advisory firm.

Highlights of conversation (click/tap above):

1:13 What is the difference between existing voluntary and compliance carbon markets, and how will the outcome at COP26 change them? 

5:56 What is the key provision under Article 6 that ensures carbon credits are not double counted?

6:45 How does Article 6 help countries cooperate to find cheaper ways to cut their emissions, while ensuring an overall reduction in concentration of greenhouse gases in the atmosphere?

8:50 What is the potential of nature in yielding new emissions-reductions projects?

15:46 With the rules for international carbon trading agreed on at COP26, how soon can countries start buying credits to meet their climate goals?

Carbon credits explained: https://www.straitstimes.com/world/carbon-copy-tricky-carbon-market-rules-struggle-to-get-off-the-ground

Produced by: Audrey Tan ([email protected]), David Fogarty ([email protected]), Ernest Luis and Hadyu Rahim

Edited by: Hadyu Rahim

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