News Header Images

News

Ministerial declaration on carbon markets
8 October 2018
Ministerial declaration on carbon markets
At the Paris climate change negotiations (COP 21, 2015), New Zealand led a Ministerial Declaration on Carbon Markets that has now been endorsed by 21 countries.
 
This Declaration sends a clear signal that carbon markets, which are included in Article 6 of the new Paris Agreement, will have a strong role after 2020.   It states that interested countries will work together to ensure the development of standards and guidelines for using market mechanisms that ensure environmental integrity and avoid any double-counting or double-claiming of emissions reduction units. This gives countries, and investors, more confidence that carbon markets will be underpinned by robust standards in future years.
 
Following the Paris climate change negotiations officials from Declaration countries have worked to progress the development of standards and guidelines to ensure environmental integrity.
 
 
Any country wanting to support the Declaration is welcome to contact the New Zealand Ministry for the Environment at climatechange@mfe.govt.nz