The creation of a UN-backed global carbon market has taken a step closer to reality with governments approving new standards for the use of credits to meet climate targets. Credits have long been bought and traded in the voluntary carbon market, but no common set of rules governs these trades, and the sector has been shaken by high-profile scandals.

The creation of a UN-backed global carbon market has taken a step closer to reality with governments approving new standards for the use of credits to meet climate targets. Credits have long been bought and traded in the voluntary carbon market, but no common set of rules governs these trades, and the sector has been shaken by high-profile scandals.

Global carbon market gets green signal at COP29

The creation of a UN-backed global carbon market has taken a step closer to reality with governments approving new standards for the use of credits to meet climate targets.

COP29 adopts new operational standards for global carbon market under Paris Agreement Article 6, enhancing international collaboration.