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The Africa Make Big Polluters Pay (MBPP) partners has expressed deep concern regarding ongoing discussions surrounding Article 6 of the Paris Agreement, particularly as it relates to carbon markets, at the COP29 United Nations climate talks happening now in Baku, Azerbaijan.
Recall that on November 16, 2024, world governments concluded their work on Article 6 and agreed to forward a draft text for consideration, further guidance and adoption at COP29.
However, the Africa MBPP believes the draft text raises significant issues that must be addressed to ensure equitable and effective climate action.
Article 6 of the Paris Agreement, which proposes how countries can collaborate to reach their climate targets, contains provisions – pushed through at the eleventh hour by the United States and the European Union – that risk placing carbon markets and offsets at the centre of the global response to climate change.
Carbon markets, or emissions trading schemes, are schemes that allow polluters – mostly from the Global North – to buy up cheap, imaginary “pollution allowances” from other countries and entities – mostly from the Global South, that have least contributed to climate change – that effectively allows the polluters to continue to pollute without consequence, escaping their moral and historical responsibility and worsening the climate crisis.
It also robs countries and communities in the Global South, including Africa, of the allowances they need to realise their right to grow and develop.
In other words, those with humongous carbon footprints steal the ability to develop and survive straight from the hands of the countries and communities that have done the least to cause the climate crisis.
There is also overwhelming evidence that carbon markets do not work, and cause great harm. Attempts to launch the world’s biggest trading schemes failed miserably, in part because markets don’t actually decrease emissions; they just shift them around. The European Union’s emissions trading system (EU-ETS)—often used as the model for most other emissions trading systems—has not only failed to decrease emissions but, at one point, even correlated with an increase in emissions.
The EU-ETS also led to corruption, fraud, speculation and windfall profits for Big Polluters, which reaped the greatest benefits. Yet, it continues to be promoted and replicated as the gold standard.
Article 6 has been a focal point of contention, particularly the attempts to roll out dangerous global pathways for carbon markets under Articles 6.2 and 6.4 negotiations. The Africa MBPP partners stand firmly against carbon markets, as we believe they can undermine the integrity of climate action and disproportionately impact developing nations.
