Voluntary carbon markets are making progress – even if official ones aren’t

IT HAS been eight years since the Paris Agreement’s endorsement of carbon markets as a tool for efficient decarbonisation, which paved the way for the private sector to funnel global capital flows towards fixing the climate.

At COP28 last year, however, participants failed to adopt long-awaited rules and infrastructure for the carbon market.

The debates in Dubai were all about whether you believe markets are the solution or the problem.