GRAY MAGUIRE: SA policymakers have not come to grips with climate adaptation
Adjusted credits are important in the developing world, where opportunities for nature-based solutions abound
COP26 has come and gone, leaving many of us to pick through the flurry of activities and sideline deals in an attempt to make sense of the plethora of outcomes. For most readers the $8.5bn SA Just Energy Transition deal will be grabbing the limelight, but for people like myself who are active in the carbon markets, seeing the article 6 carbon market component of the Paris Agreement reach a successful resolution after six years of impasse is an enormous relief.
Quite a few features of the new article 6.4 carbon mechanism must still be ironed out, particularly around the potential for a split into a two-tier market of “adjusted credits” and “nonadjusted credits”, but the initial progress is promising...