Dr. Youssef bin Mohammed Al-Horr, Chairman of the Board of Directors of the Global Carbon Footprint Council, stressed that the transition to a low-carbon economy is a challenge that requires international cooperation involving the public and private sectors, to address the problem of climate change, which requires the concerted efforts of governments, organizations and individuals alike.
This came in a statement to Qatar News Agency (QNA), commenting on the ongoing discussions in this regard and including the goal of “transformation to a low-carbon economy” among the axes discussed by the Qatar Economic Forum during its third session.
Dr. Al-Horr, an expert in the carbon footprint, explained that joint and differentiated responsibility at the same time is an agreed-upon principle that now governs climate action and global climate measures, and includes acceptance of the need for cross-border cooperation in industries to stimulate climate action, and the participation of all segments of society in this effort.
He stressed that this cooperation will enable governments and actors in the private sector to do more earlier and faster than what can be achieved individually, noting that cooperation between the countries of the world takes place through capacity building, technology transfer and international climate finance… pointing out that /carbon markets/ It is one of the main sources of international financing, according to Article 6 of the Paris Climate Agreement.
Dr. Al-Horr added, “Over the past years, carbon markets have gained momentum as a powerful tool for facing climate challenges, by linking financial incentives to environmentally friendly initiatives, and their role in stimulating positive innovation and investment in clean technologies. At the same time, carbon markets give a price index to institutions.” To take responsibility and contribute to reducing its emissions.
He pointed out that the Global Carbon Footprint Council has already received 1,485 projects to reduce greenhouse gases from about 45 countries during the past two years, which will reduce about two billion tons of carbon dioxide equivalent emissions within ten years, and means that the council issuing nearly two billion carbon credits in the world. the next seven to ten years.
He said: The Council’s role is to create a market instrument that can be used to increase international climate finance, and it is partnering with many countries to facilitate climate action under Article 6.2 of the Paris Agreement, by enabling a collaborative approach to the use of carbon markets with a central role for the Council as a standard for greenhouse gases.
He added that Qatar has many strengths and enabling factors that would allow it to play a vital role at the global level, and regardless of financial capabilities, the Qatar-based Global Carbon Footprint Council supports governments in implementing and activating Article 6.2 of the Paris Agreement, and also supports owners Private sector projects receive returns for carbon credits generated by projects to reduce greenhouse gas emissions.
Dr. Al-Horr stressed that Qatar can play a pivotal role in building the capacities of governments and international stakeholders, and encouraging a collaborative approach under Article 6.2 of the Paris Agreement between countries to help them raise international funding to support contributions determined at the national level. He added: Despite the global trends that promote carbon markets as a major catalyst for achieving the goals of the Paris Agreement, their polarization in the Middle East and North Africa region was relatively slow, so the Global Carbon Footprint Council launched the first voluntary carbon market in the region, and it is now the only voluntary carbon market. outside first world countries, with the aim of bridging this gap.
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