BAKU, Azerbaijan, October 11. The United States is hopeful for a resolution regarding the taxation of carbon emissions at COP29, the Senior Advisor to the US President for Clean Energy Innovation and Implementation John Podesta said at a briefing in Baku today, Trend reports.
"The United States, most of Europe, Japan, and likely much of the world have set the year 2050 as a target for achieving net-zero emissions. China has established 2060 as its target. However, the policies to achieve these emission reductions will vary based on national circumstances.
Regarding carbon pricing, some countries have adopted it as a basis for reducing their emissions," he said.
Podesta noted that there is some carbon pricing in the United States.
"In particular, we have just implemented a regime that charges for excess methane emissions in our oil and gas sector. In Europe, carbon pricing is more of a foundation for their emissions reduction strategy.
There is also a separate issue related to carbon markets, which is truly at the center of negotiations here. This is the so-called Article 6 issue, which is the core of the carbon market negotiations.
As I mentioned, I believe we emerged from this preliminary agreement with a sense that we will finally be able to address these issues. We have made significant progress on one of the two main topics at hand, and I think we have also made good strides on the other," he added.