The upcoming discussions in Baku aim to finalize global rules on carbon markets, essential for financing climate adaptation and mitigation efforts essential for keeping global temperature rise below 2°C.
Carbon markets, particularly compliance markets, play a critical role in regulating emissions. They create incentives for polluters to invest in emissions reduction through trading carbon credits.
Article 6 of the Paris Agreement is pivotal for international carbon trading, as it outlines how countries collaborate to meet their climate goals, although its rules remain unresolved.
The political landscape, notably Trump's election, adds complexity to achieving global agreement on carbon markets, essential for funding initiatives aimed at decarbonization.
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