Carbon Pulse: Axel Michaelowa calls for action to bridge PACM funding gap

Axel Michaelowa, senior founding partner at Perspectives, was recently featured in the Carbon Pulse coverage of last week’s Article 6.4 Supervisory Body meeting.

Axel told Carbon Pulse that the funding shortfall faced by the Paris Agreement Crediting Mechanism (PACM) could be resolved if governments reallocated remaining Clean Development Mechanism surplus funds.

“It would be deeply ironic if the most promising approach to credible international carbon markets would be slowed down due to the inability of the UNFCCC process to transfer available resources from one internal account to the other,” he warned.
“COP30 could resolve this issue if the Brazilian presidency sufficiently pushed recalcitrant governments.”

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