Countries on the first day of Cop29 climate summit provisionally agreed on carbon-credit quality standards that could pave the way for a UN-supported carbon market.
This could, in theory, fund initiatives aimed at cutting warming emissions, but more talks on the issue are expected and a final deal is far from done, experts believe.
Cop29's first day saw prolonged wrangling over the conference agenda that forced the plenary session to be delayed repeatedly. Early negotiating positions began to be established that could determine how the climate summit in Azerbaijan unfolds.
The gavel was finally brought down on the agenda late on Monday, with the carbon markets move one of the main outcomes. But what does it mean and do the agenda delays tell us anything about the path ahead?
What does the carbon credits decision mean?
Article 6 of the 2015 Paris Agreement outlines how states can pursue voluntary co-operation to reach climate goals. It means countries could transfer carbon credits earned from cutting emissions to help meet their climate targets, the UN's Framework Convention on Climate Change (UNFCCC) says.
Talks, often tortuous, have continued about how this system might work since. In theory, it could allow countries or companies to fund projects in other nations that cut emissions.
They could then use credits from these projects to offset their own. Projects such as preserving mangroves or other carbon sinks could be funded, for example. The system also offers less developed countries vital funds to transition from unsustainable energy systems. But the idea has been seen as controversial and criticised by some as “greenwashing”.
What would the deal mean?
The tentative decision at Cop29 could lay the groundwork for a UN-supported international carbon trading market.
“This is not some bit of arcane UN bureaucracy,” said Simon Stiell, UN climate change chief, on Tuesday. “When operational, these carbon markets will help countries implement their climate plans faster and cheaper, driving down emissions,” he said, stating it was a “good start” to the talks. “There's more work to do on Article 6 and the process allows for all perspectives to continue.”
Bob Ward, policy director at the Grantham Institute for Climate Change at the London School of Economics, told The National the move signified progress after “many years of stalemate, and may be a sign that the rest of Cop29 will result in significant advances on key issues”.
Rob Moore, associate director of the E3G think tank in the UK, said more work was needed but the move was important to “build trust and avoid greenwashing”. He added: “This represents solid progress which has eluded Cop presidencies.”
However, Dr Simon Evans, deputy editor of UK-based Carbon Brief, warned that any agreement was not set in stone. “I'd caution against any implication that Article 6 is now finalised,” said Dr Evans. “The talks at Cop29 are far from over and could easily fail to reach agreement, as they did last year.
“The Cop29 presidency was hoping to choreograph an 'early win' like last year's deal on loss and damage. Instead, they got a messy agenda fight.”
Cop29 summit begins in Azerbaijan – in pictures
Why did agenda agreement take so long?
Climate talks are notorious for lengthy delays and the summit often extends past the formal end day. The agenda at a previous UN climate gathering in Bonn, Germany, was only agreed days into the meeting.
Dr Evans said the agenda fight was really a “proxy battle” over two key issues at the summit – finance and ambition. The UAE dialogue that aims to track progress from last’s year’s summit was part of the agenda wrangling.
“The likes of the EU and the Alliance of Small Island States (Aosis) see the UAE dialogue as a way to carry forward last year's stocktake outcome, including 'transitioning away from fossil fuels', whereas the African Group and Like-Minded Developing Countries such as China only want it to discuss finance,” said Dr Evans.
“The deal last night was to leave the UAE dialogue where it was on the agenda, under finance, but to add a footnote saying this placement didn't prejudge the scope of the discussions. While the presidency found a way to get the agenda agreed, that fight over finance v ambition is set to continue throughout the summit.”
Moustafa Bayoumi, climate change research fellow at the Anwar Gargash Diplomatic Academy in Abu Dhabi, said these delays will become more frequent. “The delay in the agenda adoption happens quite often in climate negotiations,” he said. “This is especially the case now as we are moving more towards implementation rather than setting targets.”
Hard work only just beginning
Cop29 President Mukhtar Babayev welcomed the decision on carbon credits but acknowledged there is “much more to deliver”.
The “much more” will refer to the huge finance goal that needs to be set. Trillions are thought to be needed to address climate change and fund a more sustainable future.
Many groups on the front lines of the situation have highlighted their plight. Aosis, for example, said neglecting the special circumstances of small-island, developing states in the debate jeopardises the survival of the world’s most vulnerable populations. “The stakes here at Cop29 are incredibly high,” said Aosis chairman Fatumanava Dr Pa'olelei Luteru.
“Cop29 must reinforce last year’s momentous agreement to transition away from fossil fuel and continue the momentum with a bold new climate finance deal that benefits us all.”
Zayed Sustainability Prize
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The five pillars of Islam
Mohammed bin Zayed Majlis
How England have scored their set-piece goals in Russia
Three Penalties
v Panama, Group Stage (Harry Kane)
v Panama, Group Stage (Kane)
v Colombia, Last 16 (Kane)
Four Corners
v Tunisia, Group Stage (Kane, via John Stones header, from Ashley Young corner)
v Tunisia, Group Stage (Kane, via Harry Maguire header, from Kieran Trippier corner)
v Panama, Group Stage (Stones, header, from Trippier corner)
v Sweden, Quarter-Final (Maguire, header, from Young corner)
One Free-Kick
v Panama, Group Stage (Stones, via Jordan Henderson, Kane header, and Raheem Sterling, from Tripper free-kick)
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Mohammed bin Zayed Majlis
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
The years Ramadan fell in May
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Three ways to boost your credit score
Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:
1. Make sure you make your payments on time;
2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;
3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.
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The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
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Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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The biog
Family: He is the youngest of five brothers, of whom two are dentists.
Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.
Where he works: Liberty Dental Clinic
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MOUNTAINHEAD REVIEW
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Director: Jesse Armstrong
Rating: 3.5/5
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If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
Four-day collections of TOH
Day Indian Rs (Dh)
Thursday 500.75 million (25.23m)
Friday 280.25m (14.12m)
Saturday 220.75m (11.21m)
Sunday 170.25m (8.58m)
Total 1.19bn (59.15m)
(Figures in millions, approximate)
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
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Cutting red tape on import and export of food
ICC Women's T20 World Cup Asia Qualifier 2025, Thailand
UAE fixtures
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May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final
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Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
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Getting there
The flights
Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.
The stay
Wilderness Little Kulala offers stays from £460 (Dh2,135) per person, per night. It is one of seven Wilderness Safari lodges in Namibia; www.wilderness-safaris.com.
Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
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Engine: 2-litre turbocharged
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if you go
The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.
The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.
COMPANY PROFILE
Name: Qyubic
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Sector: E-commerce
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Investment stage: Pre-seed
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How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
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• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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