Negotiators at the COP29 climate conference in Baku have struck a landmark agreement on rules governing the global trade of carbon credits, bringing to a close almost a decade of debate over the controversial scheme.
The deal paves the way for a system in which countries or companies buy credits for removing or avoiding greenhouse gas emissions elsewhere in the world, then count the reductions as part of their own climate efforts.
Some have argued the agreement provides crucial certainty to countries and companies trying to reach net-zero through carbon trading, and will harness billions of dollars for environmental projects.
