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

Corporate Knights

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. Speaking on background Monday, an official said the odds of any oil or gas project taking advantage of the Article 6 provision were “relatively remote”.

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Energy Transition Accelerator

Chris Hall

The ETA will create a new class of carbon offsets that either represent investments in EMDE renewable energy projects or converted reductions in emissions from the power sector (such as coal-fired electricity). Discussions around Article 6.4 Discussions around Article 6.4 Article 6.4 How will the ETA work? .

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IPCC issues final warning about ‘rapidly closing window of opportunity’

Corporate Knights

Delaying those actions “would lock in high-emissions infrastructure, raise risks of stranded assets and cost escalation, reduce feasibility, and increase losses and damages.” By contrast, the report makes no mention of risky and controversial attempts at solar radiation management (SRM) and leaves out any reliance on carbon offsets.