BAKU, Azerbaijan, November 23. Today, an important step was taken to create carbon markets, said Brazil's Minister of Environment and Climate, Marina Silva, during the closing plenary session of COP29, Trend reports.
"Articles 6.2 and 6.4 are extremely technical and detailed, and also include aspects of national legislation in many countries. This was never seen as a bargaining chip: many developing countries also advocated for the creation of a carbon market. So, it was not only a question of developed countries - on the contrary, a significant number of developing countries supported this initiative. These were nine years of discussions, a really long process. As the applause at the end of the session showed, when the project was adopted, it was clear that everyone was committed to completing this stage. Now we can move forward, creating a carbon market that will be sustainable and ensure environmental integrity - which is certainly our top priority," she said.
She emphasized that now there is an opportunity to directly focus on creating carbon markets.
"We can now focus on implementation in Brazil. If the initiative is approved by the president, its implementation will take place in parallel with the implementation of the international carbon market, ensuring environmental integrity, as well as the necessary registers and permits in accordance with international standards," the minister concluded.