President Joe Biden's administration is set Tuesday to unveil 'guardrails' it says will ensure that carbon offset markets effectively reduce greenhouse gas emissions, a significant win for advocates of the contentious schemes.
Treasury Secretary Janet Yellen will join an event outlining the government's vision for 'high-integrity' carbon markets, aimed at boosting confidence in a system that critics have panned as greenwashing. Photo: KAMIL KRZACZYNSKI / AFP/FilePresident Joe Biden's administration is set Tuesday to unveil"guardrails" it says will ensure that carbon offset markets effectively reduce greenhouse gas emissions, a significant win for advocates of the contentious schemes.
"I believe that harnessing the power of markets and private capital is critical. This includes efforts to grow high-integrity voluntary carbon markets."Carbon credits enable corporations and countries to offset their greenhouse gas emissions, with each credit representing the reduction or removal of one tonne of CO2, often in developing countries through projects combating deforestation.
"These will help increase investment in projects that reduce emissions and help more businesses grow while reducing their carbon footprints," he said in a statement with UN special envoy on climate action and finance Mark Carney, and Mary Schapiro, former chair of the US securities and exchange commission.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden welcomes Kenya's Ruto to White House with investments, promises - SABC NewsUS President Joe Biden welcomed Kenyan President William Ruto to the White House on Thursday
Read more »
Biden, Kenya's Ruto pledge protect democracy in Africa and beyond - SABC NewsUS President Joe Biden welcomed Kenyan President William Ruto to the White House on Thursday…
Read more »
Joe Biden has been a well-meaning but disastrous US presidentAmerica’s jobs recovery had more to do with the unusual nature of the pandemic recession, brought about by lockdowns, than with Biden’s colossal stimulus.
Read more »
US threatens to withhold weapons supply from Israel - SABC News - Breaking news, special reports, world,US President Joe Biden for the first time publicly vowed to withhold weapons from Israel…
Read more »
US Democrats press Biden to prevent Israeli assault on Rafah - SABC News - Breaking news, special reports,US President Joe Biden's administration faced renewed pressure on to influence Israel…
Read more »
I Wanna Know hit maker Joe Thomas promises Gauteng fans a Tuesday night for the agesWatch | I Wanna Know hit maker Joe Thomas promises Gauteng fans a Tuesday night for the ages
Read more »