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What significant agreement was reached at COP29 regarding carbon markets?
- a)A complete ban on carbon trading
- b)The establishment of a supervised UN carbon market
- c)An increase in carbon emissions limits
- d)Elimination of carbon credits
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
What significant agreement was reached at COP29 regarding carbon marke...
At COP29, a significant agreement was made to establish a supervised UN carbon market in accordance with Article 6 of the Paris Agreement. This framework allows nations to trade carbon credits to comply with emission limits, facilitating a more flexible and market-driven approach to achieving climate goals. The agreement aims to enhance the effectiveness of emissions reductions through international cooperation, although challenges regarding the authenticity and transparency of carbon credits remain. An interesting fact about carbon trading is that it enables countries to purchase additional credits from others that have exceeded their reduction targets, creating a financial incentive for lower emissions.
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What significant agreement was reached at COP29 regarding carbon marke...
Significant Agreement at COP29
The outcome of COP29 reflects a pivotal moment in international climate negotiations, particularly concerning carbon markets.
Establishment of a Supervised UN Carbon Market
- The agreement to establish a supervised UN carbon market aims to enhance the efficiency and transparency of carbon trading systems globally.
- This initiative is designed to regulate and monitor carbon trading activities, ensuring that they contribute effectively to reducing global greenhouse gas emissions.
Importance of Carbon Markets
- Carbon markets allow countries and companies to buy and sell carbon credits, enabling them to offset their emissions in a cost-effective manner.
- By creating a structured and supervised market, the agreement seeks to prevent loopholes and ensure that carbon credits represent actual emissions reductions.
Global Collaboration
- The establishment of a UN-supervised carbon market fosters international cooperation, encouraging nations to work together towards common climate goals.
- It provides a framework for accountability, helping to align national policies with global climate commitments.
Implications for Climate Action
- This agreement signifies a shift towards more rigorous oversight of carbon trading, which is critical for achieving the targets set in the Paris Agreement.
- By enhancing the integrity of carbon markets, the agreement aims to mobilize necessary investments in low-carbon technologies and sustainable practices.
In summary, the COP29 agreement to establish a supervised UN carbon market is a significant step towards enhancing the effectiveness of carbon trading and facilitating global efforts to combat climate change.
The outcome of COP29 reflects a pivotal moment in international climate negotiations, particularly concerning carbon markets.
Establishment of a Supervised UN Carbon Market
- The agreement to establish a supervised UN carbon market aims to enhance the efficiency and transparency of carbon trading systems globally.
- This initiative is designed to regulate and monitor carbon trading activities, ensuring that they contribute effectively to reducing global greenhouse gas emissions.
Importance of Carbon Markets
- Carbon markets allow countries and companies to buy and sell carbon credits, enabling them to offset their emissions in a cost-effective manner.
- By creating a structured and supervised market, the agreement seeks to prevent loopholes and ensure that carbon credits represent actual emissions reductions.
Global Collaboration
- The establishment of a UN-supervised carbon market fosters international cooperation, encouraging nations to work together towards common climate goals.
- It provides a framework for accountability, helping to align national policies with global climate commitments.
Implications for Climate Action
- This agreement signifies a shift towards more rigorous oversight of carbon trading, which is critical for achieving the targets set in the Paris Agreement.
- By enhancing the integrity of carbon markets, the agreement aims to mobilize necessary investments in low-carbon technologies and sustainable practices.
In summary, the COP29 agreement to establish a supervised UN carbon market is a significant step towards enhancing the effectiveness of carbon trading and facilitating global efforts to combat climate change.
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What significant agreement was reached at COP29 regarding carbon markets?a) A complete ban on carbon tradingb) The establishment of a supervised UN carbon marketc) An increase in carbon emissions limitsd) Elimination of carbon creditsCorrect answer is option 'B'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about What significant agreement was reached at COP29 regarding carbon markets?a) A complete ban on carbon tradingb) The establishment of a supervised UN carbon marketc) An increase in carbon emissions limitsd) Elimination of carbon creditsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What significant agreement was reached at COP29 regarding carbon markets?a) A complete ban on carbon tradingb) The establishment of a supervised UN carbon marketc) An increase in carbon emissions limitsd) Elimination of carbon creditsCorrect answer is option 'B'. Can you explain this answer?.
What significant agreement was reached at COP29 regarding carbon markets?a) A complete ban on carbon tradingb) The establishment of a supervised UN carbon marketc) An increase in carbon emissions limitsd) Elimination of carbon creditsCorrect answer is option 'B'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about What significant agreement was reached at COP29 regarding carbon markets?a) A complete ban on carbon tradingb) The establishment of a supervised UN carbon marketc) An increase in carbon emissions limitsd) Elimination of carbon creditsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What significant agreement was reached at COP29 regarding carbon markets?a) A complete ban on carbon tradingb) The establishment of a supervised UN carbon marketc) An increase in carbon emissions limitsd) Elimination of carbon creditsCorrect answer is option 'B'. Can you explain this answer?.
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