Countries are far from agreeing on technical details for running global trading in carbon offset credits after one week of talks at the COP27 U.N. climate summit in Egypt, according to negotiators and observers, with delays threatening to blow a 2023 deadline.
Carbon offsets allow countries or companies to pay others to cut greenhouse gas emissions to offset their own. While companies are already trading carbon offset credits in private markets, the so-called Article 6 of the Paris Agreement would fix rules enabling countries to partly achieve their national climate targets by buying such credits.
