BAKU, Azerbaijan, October 3. The UK is ready to constructively engage with all stakeholders to reach a consensus in Baku on issues related to Article 6 of the Paris Agreement, the UK Ambassador to Azerbaijan Fergus Auld said at a roundtable on “Carbon Mitigation and Market Mechanisms” at ADA University in Baku, Trend reports.
“As Presidency of COP26 in Glasgow, the UK oversaw agreement of international carbon markets rules on Article 6 after years of disagreement. This was a key achievement of our Presidency – a testament to the hard work of all parties.
At COP29, some outstanding technical Article 6 topics remain to be concluded – and I commend Azerbaijan as the incoming Presidency for recognizing early that this is an area of the negotiations in which they can help us all take an important step forward. As the UK, we will seek an outcome informed by environmental and social integrity, which provides certainty to market participants. We are ready to work constructively with all parties to reach a consensus in Baku,” the Ambassador said.
He mentioned that the UK is taking measures for the formation of global carbon markets and to ensure that developing countries have access to them.
According to the Ambassador, putting a price on carbon is fundamental to combating climate change. It provides a cost-effective way to reduce emissions and mobilize the private sector.