Initially printed on October 30, 2024.
Do you know that an MoU on carbon markets was adopted on the XVI BRICS Summit in Kazan, Russian Federation, from 22 to 24 October 2024?
We carry you extra particulars right here. However first, let’s bear in mind what BRICS means.
Extra like an off-the-cuff financial group idea, the concept of the BRICs – Brazil, Russia, India and China – was coined within the 2001 examine “Building Better Global Economic BRICs” by the chief economist of Goldman Sachs. In 2006, on the sidelines of the United Nations Basic Meeting, the group formally met for the primary time. And in 2011 South Africa (South Africa) grew to become a part of the group, which adopted the acronym BRICS.
(And word that along with the that means of the acronym “BRICS”, its pronunciation additionally resembles the phrase “bricks” in English, with “ck” that means “bricks” or “building blocks”).
Paragraph 85 of the ultimate declaration of this XVI BRICS Summit states:
“85. We recognize the important role of carbon markets as a driver of climate action and encourage increased cooperation and sharing of experiences in this field. We oppose unilateral measures introduced under the pretext of climate and environmental concerns and reiterate our commitment to increasing coordination on these issues. We welcome the adoption of the Memorandum of Understanding on the BRICS Carbon Markets Partnership as a dedicated platform for sharing knowledge, experiences and case studies of carbon market development and discussing potential intra-BRICS cooperation on carbon markets, to exchange views on potential cooperation between BRICS countries, in accordance with Article 6 of the Paris Agreement.”
In accordance with the Tanzania Nationwide Carbon Monitoring Heart (NCMC) portal, in a earlier article, from September 2024, the MOU covers 4 fundamental areas of cooperation between BRICS nations:
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Improvement of Joint Carbon Markets;
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Harmonization of Carbon Accounting and Reporting Requirements;
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Expertise Coaching and Sharing; and
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Help for Sustainable Improvement.
Click on on the picture beneath to learn extra about this MOU, within the full NCMC article “BRICS Advance Common Carbon Market Plans”.
And are available again tomorrow for the second and ultimate a part of this text. Chances are you’ll be shocked, each by the main points of the worldwide carbon items deal introduced simply earlier than the BRICS Summit, and by the urged location for the first. carbon enterprise heart.
