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Global carbon markets look for boost from Cop26 talks

Markets are taking hold anyway but more work is needed to refine rules

The Cop26 talks in Glasgow will need to refine rules on global carbon markets for those markets to grow to the size needed to achieve the goals of the Paris Agreement, experts say. Article 6 of the Paris Agreement paved the way for two key types of emissions trading. Article 6.2 allowed for internationally traded credits that would give countries that had overachieved on their Paris goals the opportunity to sell those overachievements to countries that were faring less well. Article 6.4 allowed for a new tool to replace the Clean Development Mechanism that would allow public or private sector entities to buy credits to cover their emissions from projects elsewhere in the world.

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