COP29 Must Recognise the Value of Carbon Credits in Recycling
The COP29 meeting in Azerbaijan must recognise and facilitate carbon credits made by the recycling industry, says the Global Recycling Foundation.
Speaking on the occasion of COP29, Ranjit Baxi, Founding President of Global Recycling Foundation and Global Recycling Day, said the billions of tons of CO2 emissions saved globally by recycling will generate more than $40 billion of carbon revenue.
“The funds generated will help promote much needed technological innovation using AI and will also help in building infrastructure innovation in developing economies to promote the circular economy,” said Mr Baxi.
COP29 must help to put into force the pledges made at the COP 28 UAE conference into an international commitment for a deliverable carbon footprint, meeting climate change goals of limiting global temperature rises to 1.5 degrees, which are likely to be exceeded.
“We need agreements supported by real deliverable roadmaps for climate finance, a multifold increase in energy storage, sustainability and biodiversity,” he said.
BIR (London, November 18, 2024)
