Carbon market rules being pursued by Australia and Brazil are not in line with the 1.5C temperature goal of the Paris Agreement, according to 31 countries who broke from tense discussions at the UN climate talks in Madrid.
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| Aerial picture of wildfires in the city of Altamira, State of Para, Brazil. |
Led by Costa Rica, they published a set of 11 benchmarks they said represented the “minimum” standard to ensure integrity of the global carbon trading system due to come into effect next year.
The ‘San Jose principles’ were signed by 30 other countries including France, Germany, the UK, Spain and New Zealand.
Carlos Manuel Rodriguez, Costa Rica’s environment minister, said the principles present “a definition of success” on the new carbon market rules and “keep the door open” for limiting warming to 1.5C.
Read the story from Climate Home News - “Australia and Brazil carbon credits will put 1.5C out of reach, 31 countries say.”
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