Critics say approval of climate credits' rules on day one of Cop29 was rushed

The recent agreement allowing trade of carbon credits is seen as a pivotal step to establish a clearer, global carbon market, despite ongoing criticism regarding the rushed process.

Critics have highlighted that this new system could allow wealthy countries to continue delaying significant emission reductions at home while purchasing cheaper climate solutions abroad.

Mukhtar Babayev, president of Cop29, emphasized the importance of this development, stating that it reflects a spirit of compromise and could pave the way for effective climate action.

Supporters argue that carbon markets can channel essential funds to combat climate change, but the history of fraud and ineffectiveness in some projects raises significant concerns.

Read at www.theguardian.com