COP29 operationalises international carbon market governance
At COP29 held in Baku, Azerbaijan, a key milestone in climate governance was reached with the operationalisation of international carbon market governance. This progress is significant as it marks the first time that carbon credit trading systems have been formalized under the Paris Agreement’s Article 6, which allows countries to voluntarily trade emission reductions. The conference established critical mechanisms for authorizing carbon credit transactions, managing registries, and ensuring technical reviews on environmental and human rights…