Upsc Key Carbon Credits Safe Harbour Clause Cop29 And G20

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UPSC Key | Carbon credits, Safe harbour clause, COP29 and G20
UPSC Key | Carbon credits, Safe harbour clause, COP29 and G20 from

UPSC Key | Carbon credits, Safe harbour clause, COP29 and G20

Carbon credits

Carbon credits are a tradable permit or certificate that represents one tonne of carbon dioxide equivalent removed from the atmosphere or emitted less.

They are created when a project or activity reduces greenhouse gas emissions, such as planting trees, investing in renewable energy, or capturing and storing carbon.

Carbon credits can be bought and sold in a carbon market, where buyers can offset their carbon footprint by purchasing credits from projects that reduce emissions.

Safe harbour clause

A safe harbour clause is a legal provision that provides protection or immunity from liability, penalties, or other legal consequences.

In the context of climate change, a safe harbour clause may provide protection for countries or companies that are investing in or implementing emissions reduction projects.

This can encourage investment and innovation in clean energy and other climate mitigation measures.

COP29 and G20

COP29 is the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC).

It will be held in Dubai, United Arab Emirates, from November 6-17, 2023.

COP29 is expected to focus on key issues such as climate finance, adaptation, and mitigation.

The G20 is a group of 20 major economies that meet regularly to discuss and coordinate on economic and financial issues.

The G20 has played an important role in the international response to climate change, and has set ambitious goals for reducing emissions and transitioning to a low-carbon economy.