Comment on COP27 negotiations on carbon markets

Matt Williams is available for interview and further comment

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By George Smeeton

Information on this page correct as of:

At COP27 countries have picked up the negotiations that were taking place last year on the rules surrounding carbon markets, and how countries, and companies, might trade carbon credits among one another.

Commenting on the ongoing negotiations on carbon market rules, Matt Williams, Climate and Land Programme Lead at the Energy and Climate Intelligence Unit (ECIU), said: "The Article 6 negotiations have been drier than even the desert surrounding the COP venue. They are highly technical, but they really do matter. Problematic options are still in the text, or have even crept back in. Two issues have stood out: are carbon credits fair, and are they forever? Meaning, will rules make sure carbon taken out of the atmosphere stays out of it, and will there be strong rules on human rights and on reporting how credits are used?

"Get it right and millions of tonnes of carbon dioxide can be saved. Get it wrong and it’s placing a UN stamp of approval on secrecy about use of carbon credits, and greenwashing that doesn’t cut emissions and that threatens indigenous peoples. Right now, it looks like the clock will run out. Negotiators may have to down tools, and come back for another go at COP28 in Dubai."

For more information:

George Smeeton, Head of Communications, ECIU, email: t: +44 (0)7894 571 153 [currently in Egypt for COP27 – please use WhatsApp for urgent calls, or send a text message]