| Brazil and the EU have jointly proposed new text on international carbon trade in a move observers and negotiators say drastically improves the chances of market provisions being retained in the final UN climate pact. The proposal may diminish fears that provisions for international carbon trade risk being squeezed out of the UN climate pact altogether because major economies were giving it a low priority.
It sets out in more detail than the latest UN proposal ways in which willing nations can use “cooperative approaches” to cut emissions using “internationally transferred mitigation outcomes”, according to the text that was circulated among negotiators and seen by Carbon Pulse, before it was published on the European Commission website...............................................Full Article: Source
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