Paris Agreement carbon market rules finalised at COP29
"The mechanism is now operational and global emissions trading under Paris is set for lift off."
Carbon trading rules under the Paris Agreement were finalised last week at COP29 after nine years of disputes and negotiations, effectively operationalising a global, UN-managed carbon market.
Both Article 6.2 (governing the way countries can trade carbon units to support their national decarbonisation commitments) and Article 6.4 (the framework for a centralised carbon market for both countries and companies) were finally adopted in Baku, Azerbaijan.
