COP29 Negotiators Agree on Global Carbon Market Mechanism
Bloomberg reports that new market to form the gold standard for emissions trading. The rules, dubbed “Article 6.4,” have been stalled for years.
Climate negotiators secured a breakthrough on day one of the COP29 climate summit by agreeing on rules for a United Nations-administered global carbon market. Proponents argue the new market will form the gold standard for emissions trading, unlocking billions in finance for emissions mitigation projects in the developing world. Buyers, mostly in wealthier countries, would be able to meet their... ...
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