COP29 achieves full operationalisation of Article 6 of Paris Agreement – Unlocks International Carbon Markets

COP29 Presidency breaks through longstanding multilateral negotiations stalemate. The Conference achieved an important milestone thanks to the definition of high-quality and transparent carbon markets through which countries and companies can work together to meet their climate goals. 

The decisions unanimously adopted on Article 6 will play a pivotal role in ensuring environmental integrity, transparency and robustness of carbon markets through real, additional, verified and measurable emission reductions and removals, while also unleashing their enormous potential to drive global climate investment. 

Article 6 can save as much as $250 billion per year in implementation of national climate plans.

More info on the COP29 website: https://cop29.az/en/media-hub/news/cop29-achieves-full-operationalisation-of-article-6-of-paris-agreement-unlocks-international-carbon-markets and https://unfccc.int/news/cop29-un-climate-conference-agrees-to-triple-finance-to-developing-countries-protecting-lives-and