COP 30: Switzerland reinvigorates its climate offsetting plan

As negotiations at the United Nations climate conference in Belém drew to a close, Switzerland announced the creation of an alliance of countries supporting a carbon offset scheme it pioneered. On Friday, Switzerland’s environment ministry disclosed the launch of the Article 6 Ambition Alliance, a group of 10 nations working together under the Paris agreement clause on helping developed countries narrow the gap that exists between their domestic carbon-cutting plans and international goals to keep global warming within the limits set by the Paris climate agreement a decade ago. Joining Switzerland in the alliance are Germany, Luxembourg, Norway and Sweden, who intend to finance projects aimed at compensating their emissions abroad, as well as host countries Peru, Chile, Mongolia, Ghana and Zambia who commit to greenlight those projects domestically. Article 6.2 of the Paris agreement allows developed nations to transfer emissions reductions with other countries through bilateral ...