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

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    • Minister for Sustainability and the Environment Grace Fu and Papua New Guinea Minister of Environment, Conservation and Climate Change Simo Kilepa at a ceremony at COP28 in August 2023 launching Singapore's cooperation with over 20 countries to create a supply of carbon credits.
    • Minister for Sustainability and the Environment Grace Fu and Papua New Guinea Minister of Environment, Conservation and Climate Change Simo Kilepa at a ceremony at COP28 in August 2023 launching Singapore's cooperation with over 20 countries to create a supply of carbon credits. PHOTO: MINISTRY FOR SUSTAINABILITY AND THE ENVIRONMENT

    Charles Bedford

    Published Mon, Mar 18, 2024 · 05:00 AM

    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.

    Carbon creditsCarbon taxCOP28Climate change

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