The approval of Article 6.4 during COP29 in Baku marks a turning point for global environmental action. As part of the broader Article 6 framework under the Paris Agreement, this mechanism establishes a United Nations-supervised global carbon market, providing a system for countries and private entities to trade verified emissions reductions and removals. This milestone comes at a critical juncture for international carbon markets, which have faced growing scrutiny over credit quality and transparency.
