Quotes
We live in a time of truly challenging geopolitics, and we should simply not have the illusion
European Climate Commissioner Wopke Hoekstra told delegates at COP29's pre-dawn closing session Sunday As a wealthy nation, and a huge fossil fuel exporter, the Australian government notably failed to drive bigger ambition. This is about realism. Getting better financial arrangements is key to getting global support for rapid fossil-fuel phase-out globally.”
Australia must also honour the spirit of [last year’s] commitment to transition away from fossil fuels and replace its exports of coal and gas with renewable energy,
Now we need to get on with action to build the renewables, implement the transition and turn our complete attention to developing 2035 emission reduction targets due next year,
While some may seek to deny or delay the clean energy revolution that’s under way in America and around the world, nobody can reverse it - nobody,
The whole point is to address that market gap. So if it becomes standardized, any of the concessional players should have exited and gone to something else that address a new market gap,
We need to be creative to get the incentives right to make it happen,
We're starting to see a smarter use, and a more efficient use, of catalytic capital to where billion-dollar deals are becoming more of a consistent thing,
There’s just not enough money from government sources,
said Catherine McKenna, chief executive of Climate and Nature Solutions and former federal environment minister, in an interview International carbon markets have crashed twice in two decades. This was due to an erosion of credibility. At Baku, the operationalisation of international carbon trading under Paris can prevent a third meltdown that could be fatal,
said Axel Michaelowa, a carbon markets expert at the University of Zurich The new rules are a start, but the risk of abuse still remains alive and well,
said Injy Johnstone, a research fellow at the University of Oxford The idea to grow the carbon market is to get climate financing to the right places. A London taxpayer is not going to give thousands of dollars to developing countries to reduce the emissions, especially if you’re not sure about those developing countries’ commitment. We’re all in the same bucket, whether it’s Mali, Saudi Arabia or China; that’s where the idea of where carbon markets came about,
We have to learn the lessons of past mistakes and watch for new ones this system could create, otherwise we risk the Paris agreement becoming a market failure,
We’ve invested in millions of dollars for no guarantee of any return [in the new rainforest carbon credit methodology]. It’s all done at risk,
They are a powerful tool to accelerate the diffusion of low-carbon technology around the world. The Paris carbon market is now ready to roll out in 2025. It can accelerate mitigation and thus help close the gaping emissions gap that separates us from achieving the 1.5C target,
The available evidence suggests that many carbon credits are not backed by any actual emission reductions. If these quality issues continue under article 6, this could undermine our efforts to achieve our climate targets. It is critical that we fix the integrity issue of the market,
We currently see proposals on the table that would credit the natural absorption of carbon dioxide by forests. But these removals occur anyways and not because of any human intervention. If these credits are used by buyers to emit more, this would result in more carbon added up to the atmosphere. And the potential for issuing such credits is very large,
It is the biggest economic opportunity of the 21st century and through our championing of it we can help crowd in private investment
the UK's energy secretary added We will keep up the pace, working with other countries before the world meets again in Brazil for COP30
This agreement is far from perfect and it does not go nearly far enough, particularly on mitigation, gender and human rights – but it keeps the core principles of the Paris Agreement alive and it gives us a basis to work from as we move forward to make Cop30 in Brazil transformational.”
Minister for Climate Eamon Ryan said
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