Carbon market deal may save the legacy of COP26

Economy

Published: November 16, 2021 10:11 am

By David Callaway, Callaway Climate Insights

. . . . In the stinging aftermath of the international failure in Glasgow to agree on moving the world away from coal or paying to help poorer countries fight the ravages of climate change, it’s difficult to attribute any success whatsoever to the United Nations COP26 summit, which just ended.

But a late-session agreement among negotiators to approve rules for a global carbon market, while technical and, well, boring in comparison to the fight to save Barbados, will have long-lasting benefits that could ultimately allow climate historians to look back more favorably on the summit.

Among the many goals of the summit that were not reached, the agreement on the carbon market — Article 6 of the Paris Agreement in 2015 — stands out as rare success in countries compromising to overcome disagreements on payments. . . .

To read this column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.

Callaway Climate Insights Newsletter

Take Charge of Your Retirement In Just A Few Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.

Here’s how it works:

Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!