The new draft text still features brackets around the sustainable development mechanism provision. Decisions to be made in the next 24 hours include whether offsetting will be allowed (please, NO!), whether developed countries will be able to play the offset generation game, accounting rules, guiding principles and a share of proceeds for climate finance purposes. ECO suggests: Disallowing the use of offsetting. To achieve the 1.5°C goal, we need to focus on emissions reductions Enhancing inclusion of ’environmental integrity‘. by inclusion of the additional principles‚ real, permanent, verified and supplemental for any international exchange of mitigation outcomes under this mechanism … Continue reading Carbon Markets: All Cards on the Table