Relying on Carbon Credits: A Double-Edged Sword for Climate Targets
Countries should not overly depend on buying carbon credits to meet climate goals, according to COP30 summit CEO Ana Toni. The EU is exploring including credits in its 2040 emissions target. The credits have both advocates and critics, and their efficacy and genuine environmental benefits are under debate.
This year's U.N. COP30 summit's chief executive has cautioned nations against excessive reliance on carbon credits to fulfill climate targets, as the European Union sets new emissions objectives. The EU is contemplating credits in its 2040 target, a first for the bloc.
The European Commission is set to propose its 2040 climate goal, aiming for a 90% emissions reduction. However, resistance from some member states might prompt a lower domestic target, compensated by international carbon credits. These allow nations to offset emissions through overseas CO2-reducing projects, like those in Brazil or Guyana.
Ana Toni, the COP30 climate summit CEO, noted Brazil's stance doesn't oppose credits but warns against their overuse. She urges that any used credits should deliver tangible environmental benefits. As the host, Brazil's role is advisory, steering negotiations towards ambitious climate commitments.
(With inputs from agencies.)
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