article thumbnail

At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Corporate Knights

Those guidelines are due to be released in 2024. Now, it’s being taken up by a multilateral panel that is expected to report in 2024 if all goes well. The document also holds out the possibility of subsidies for carbon trading deals under Article 6 of the Paris agreement, and for Indigenous participation in fossil fuel projects.

article thumbnail

Energy Transition Accelerator

Chris Hall

billion of first-phase financing, through mechanisms including grants, concessional loans and investments and risk sharing instruments, but it has taken time for details to be worked out on how funding would be channelled to support decommissioning of soon-to-be-stranded assets. . Discussions around Article 6.4 Article 6.4

article thumbnail

COP26 Live Blog: All in for 1.5ºC

We Mean Business Coalition

C, we need to see a meaningful price on carbon and a strong carbon market through robust rules on Article 6 that will help channel cost-effective investments and raise climate ambition. It makes no long-term sense to continue pumping money into an asset that is already destined to eventually have no value — a stranded asset.

COP26 88