International carbon trading boosted by COP Article 6 deal

Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement

Negotiators at the COP29 climate talks in Baku, Azerbaijan have reached agreement on Article 6 of the Paris Agreement, setting the rules for country-to-country trading of emissions reductions credits and operationalising a centralised carbon crediting mechanism. The Paris Agreement set out a basic framework for these two functions in 2015, but negotiators have since struggled to reach agreement on the specifics of how they should work. “COP29 reached global agreement on carbon markets after almost a decade of hard work, where several previous COPs were not able to get this done,” said UN Climate Change Executive Secretary Simon Stiell in his closing remarks at the conference. Negotiators rea