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COP29 achieves full operationalisation of Article 6 of Paris Agreement – Unlocks International Carbon Markets

November: Today, the COP29 Presidency announced the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement. This was one of the Presidency’s top priorities for the year and it drove Parties towards this milestone achievement through intensive dual-track technical and political negotiations. This strategy broke through years of stalemate and finalises the last outstanding item in the Paris Agreement. Article 6 provides trusted and transparent carbon markets for countries as they collaborate to reach their climate goals. This cross-border cooperation is expected to reduce the cost of

July 2, 2024

News Desk

World Bank Group Launches $20 Billion Annual Guarantee Initiative

The World Bank Group announced Monday that it has launched a new loan and investment guarantee platform that it hopes will triple the provision of guarantees and risk insurance around the world to $20 billion a year. The goal, which it wants to achieve by 2030 and which aims to increase investment in higher-risk regions from Africa to Ukraine, will bring together key units of the World Bank, the International Finance Corporation (IFC) and the Multilateral Organization Investment Guarantee Agency (MIGA). Hiroshi Matano, Executive Vice President of MIGA, told Reuters that the combination will begin to support new innovative financing,

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