‘Terrible news’: COP28 fails to clarify carbon trading rules
For some, the absence of a deal is better than a low-integrity carbon market that would undermine progress towards the Paris Agreement.
Nation states at COP28 have rejected proposed rules for a long-awaited carbon trading mechanism, effectively postponing an agreement to next year.
Clear carbon market rules had been one of the final outcomes Chief Sustainability Officers were hoping for as they left the conference, but they will now have to wait until COP29 for negotiations to resume.
