Simon Watts to Co-Chair Carbon Market Negotiations at COP29

"Climate change is a global challenge, and international cooperation is essential in transitioning to a low-emission, net-zero future," said Watts.

Climate Change Minister Simon Watts has been selected to co-chair critical negotiations on carbon markets at this year's United Nations Climate Change Conference (COP29), alongside Singapore’s Minister for Sustainability and Environment, Grace Fu. The conference will be held in Baku, Azerbaijan, from 11-22 November 2024.

"Climate change is a global challenge, and international cooperation is essential in transitioning to a low-emission, net-zero future," said Watts. "Minister Fu and I have been asked to co-chair negotiations to finalise the details for how countries can collaborate on carbon markets under the Paris Agreement."

The focus of these talks will be on ensuring that carbon markets are transparent, credible, and have high integrity. Such systems are designed to encourage direct investment in emissions reduction efforts, benefiting both countries and consumers while combating climate change.

Watts expressed his pride in being selected as one of eight Ministerial representatives to chair the negotiations, noting that it reflects New Zealand and Singapore’s leadership and expertise in carbon markets and emissions pricing. It also acknowledges New Zealand’s recent work to restore credibility in its domestic Emissions Trading Scheme.

The negotiations will build on global efforts under the Paris Agreement, helping to shape climate policy that drives tangible emissions reductions. Watts and Fu will engage with their international counterparts ahead of COP29 to ensure a productive outcome.

The conference will not only focus on government-level negotiations but will also provide a platform for businesses and civil society to contribute to climate solutions and the global economic transition.