CO2 QUOTE Closing from Cierre del 11-04-2024 66,72 €/T

Can COP28 save controversial carbon credits?

Researchers would like to bury them, but states take advantage of them. Carbon credits, which allow companies to offset their CO2 emissions and promote “neutral” flights, shampoo or coffee, could gain traction at COP28.

“The absence of rules, regulations and rigour in the voluntary market for carbon credits is very worrying” and this instrument must not “undermine real efforts to reduce emissions”, UN Secretary-General Antonio Guterres had said during the 27th UN climate conference. Criticized since their birth after the Kyoto Protocol (COP3 in 1997), carbon credits experienced their annus horribilis in 2022-2023, from which they emerged with credibility stained by several journalistic investigations and scientific studies.

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