HomeCarbon CreditsJohn Kerry Believes COP26 Negotiations Will Result in Deal on Carbon-Trading Rules

John Kerry Believes COP26 Negotiations Will Result in Deal on Carbon-Trading Rules

After more than six years of negotiations, John Kerry believes world leaders are ready to reach a deal on carbon-trading rules.

This would be a massive victory for the offset market and be a significant victory for climate diplomacy.

The carbon credit industry has grown exponentially over the past year as companies and governments look for ways to offset their carbon emissions.

However popular, critics feel that the industry lacks the regulatory standards needed to be effective. If world leaders can agree, the industry would become far more transparent – alleviating many concerns.

The carbon trading industry can offset emissions, improve the environment, and spark economic development in areas that need it most. Combined with innovative technology and additional regulations, the global carbon marketplace is a driving force in the fight against climate change – which is why an international standard is so important.

In addition to carbon trading rules, Kerry has been negotiating with Russia and China to reduce their methane gas emission. More than 105 countries have signed up to reduce their methane emissions by 30%. Though China hasn’t signed on, Kerry feels that the country has shown a commitment to doing more than they have been.

The US has set a goal to decarbonize the power sector by 2035 and eliminate coal plants by 2030.

If carbon trading rules are implemented globally, the carbon credit industry will only continue to grow. Right now, the voluntary carbon market is on track to reach $100 billion by 2030 (up from $300 million in 2018). Some experts believe it could be valued at $22 trillion by 2050.

Regarding COP26, Kerry was quoted as saying, ““We have to have a measurement of ambition. This is a long journey and now really is the test of whether we can get there.”

Most Popular
LATEST CARBON NEWS

Brazil’s Bill Will Allow Loggers to Earn $24M from Carbon Credits

Brazil’s Congress passed a bill that will make carbon credits available to private companies with forest concessions, serving a first step in regulating the...

Global Renewable Energy to Break Records in 2023, IEA Says

Global additions of renewable power capacity will increase by a third this year, says the International Energy Agency (IEA). In the IEA's 2023 Renewable Energy...

Equatic Reveals First-of-a-Kind Ocean CO2 Removal Tech, Inks Deal with Boeing

Ocean carbon removal startup Equatic launches breakthrough low-cost, gigaton-scale climate technology and signs a pre-purchase deal with Boeing. L.A.-based Equatic is an UCLA Samueli School...

Lithium-Ion Wars: US Battery Imports Soar by 66%, Setting New Record as Domestic Production Ramps Up

According to S&P Global, in the first quarter of 2023, US imports of lithium-ion batteries surged by nearly 66% from the previous year, reaching...
CARBON INVESTOR EDUCATION

What are the Effects of Methane Emissions and Why Should We Care?

What are the effects of methane emissions? That’s the multi-million dollar question in the world’s battle over global warming as methane was often overlooked...

Carbon Credits and the Future of Sustainable Business: Exploring Best Practices

The trading of carbon credits can help entities and the world meet their climate goals by cutting carbon emissions and practicing sustainable business. While...

Revolutionizing Textile Recycling with HTC

A Virginia-based startup, Circ, has developed a unique hydrothermal processing technology for recycling blended textiles, like polyester-cotton blends. With fast fashion's emissions and environmental...

Carbon Credits and the Sustainable Development Goals: Aligning Climate Action with Global Priorities

Carbon credits from climate actions represent a crucial part of a strategy to mitigate climate change while supporting the global priorities on advancing sustainable...