COP29 countries endorse global carbon market framework

12/11/2024 7:19

        Countries at the two-week COP29 climate summit gave the go-ahead on Monday to carbon credit quality standards which are critical to launching a U.N.- backed global carbon market that would fund projects that reduce greenhouse gas emissions.
        
        The green light was an early deal on day one of the U.N. conference in Baku, Azerbaijan. Governments are also meant to hammer out a climate finance agreement, although expectations have been muted by Donald Trump's U.S. election win.
        
        President-elect Trump has said he would again pull the U.S. out of the global Paris climate agreement, which lays the groundwork for the planned U.N.-backed carbon market.