the future global market for carbon credits is taking shape

the future global market for carbon credits is taking shape
the future global market for carbon credits is taking shape

DECRYPTION – New international rules were adopted in Baku to regulate the compensation of CO emissions2 for countries or businesses — a key step in helping countries meet their climate obligations.

A key step in the implementation of the agreement, and a winning bet for the president of COP29, Mukhtar Babaev. Monday evening, at the end of a long first day already marked by blockages and tensions, the conductor of this year's climate negotiations obtained a first agreement on a file that was hanging around in the COP boxes. for ages: the rules for implementing a new carbon credit market.

Let's go back a little, to 2015 to be exact. When countries adopted the Paris Agreement – ​​which commits them to limiting global warming to 2°C compared to the pre-industrial era – they agreed to better regulate carbon credit markets. These financial instruments allow countries and companies to compensate…

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