Enhancing NDCs 3.0: the role of carbon markets

The COP29 panel “Enhancing NDCs 3.0: The Role of Carbon Markets in Emission Reductions and Removals”, scheduled on Friday 15 November 2024 from 11:30 to 13:00 AZT, will explore different pathways to enhance NDCs through carbon markets.

Nationally determined contributions (NDCs) are at the heart of the Paris Agreement as they reflect domestic efforts to reduce emissions and adapt to climate change. Progressively more ambitious NDCs are submitted every 5 years to the United Nations Framework on Climate Change Convention (UNFCCC) Secretariat with the next submission coming up in February 2025. To update their NDCs, Parties need to consider further emissions reductions and removals. Carbon markets have the potential to drive mitigation actions through domestic policies and international cooperation and could, therefore, play an increasingly important role in the NDCs.

The Official Side-Event will be hosted by the UNFCCC in Room 6 during the 29th Conference of Parties in Baku, Azerbaijan. It is organised by FSR, ICAP, Seoul International Law Academy and Tsinghua University.

Chair: Simone Borghesi, EUI, Siena University & EAERE

Introductory remarks:

• Li Gao, Environment and Resources Protection Committee of the National People’s Congress, China

Scene-setting presentations:

• Simone Borghesi, EUI, University of Siena & EAERE [slides]
• Stefano De Clara, ICAP [slides]
• Xiliang Zhang, Tsinghua University [slides]

Panel:

• Suh-Yong Chung, Korea Uni & SILA
• Teng Fei, Tsinghua University
• Xiaolu Zhao, EDF
• Leticia Guimarães, UNDP

Conclusions:

• Jan Dusik, European Commission

The event is organised by the EUI, ICAP, Tsinghua University and SILA and is held in the framework of the project LIFE COASE.