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New Global Carbon Market (Part 2). United Nations Conference addresses 11 (difficult) questions towards operationalizing.

Today is Friday, 7 June 2024.


Yesterday we started talking about UN’s Article 6.4 Supervisory Body further engaging Parties and stakeholders in the United Nations 60th Sessions of the Subsidiary Bodies, that is happening in Bonn, Germany and goes until 13 June.


Today we finalise the article.


To start with, you can access the recording of that 3 June meeting by clicking at the image below.


As you will see at the beginning of the meeting (2:50 minutes) there are 3 clusters of questions: 4 general, 3 about methodological guidance and 4 specifically about removals. It took basically one hour of comments by the several countries for each of these clusters.


Significant challenges are still ahead, such as what is the right level of guidance, concerns around addicionalities, consensus on the definition (technological and nature-based and respective duration) of removals, risk sharing, buffer pools, integrity (*) etc.


If interested on “this spirit of the meeting”, just go to time 2:00:30 and listen for 10 minutes what Maria AlJishi says, followed by the representative of Switzerland (where big banks and insurers are based … and also making interesting questions).


“We very much welcome the patience and perseverance of the many stakeholders here today. We have listened and heard a range of views, and strengthened our understanding for the task ahead,” said the Vice Chair Martin Hession.


Ahead of COP29, the most critical work is to finalize the recommendations on methodologies and removals and discuss concerns that arose in Dubai and build consensus for a way forward at COP29.


Moving towards better carbon markets under Article 6 this year can unlock funding for national climate plans and adaptation.


(*) Carbon Credit Markets is working on a marketplace to support the assessment of the integrity of carbon credits. If you are interested in offering documentation or due diligence relating to your jurisdiction, please send an email to contact@damasceno.org with the subject “Integrity Marketplace”.




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“Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.”

“I am among those who think that science has great beauty”

Madame Marie Curie (1867 - 1934) Chemist & physicist. French, born Polish.

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