Climate talks focus on Article 6, which was set up as part of the 2015 Paris Agreement to help nations work together to reduce climate-causing pollution. Part of that was a system of carbon credits, a

COP29 adopts new operational standards for global carbon market under Paris Agreement Article 6, enhancing international collaboration.

High quality and high-integrity carbon credits can mobilize finance, including private sector contributions, to support additional mitigation efforts worldwide while also creating avenues for sustainable development.

The market will allow nations to trade carbon credits whose prices are determined because of emission caps imposed by countries.

Multiple attempts previously to both define and adopt it have failed. Yalchin Rafiyev, the lead negotiator of COP29 from Azerbaijan, called it a 'game-changing tool'.

In a landmark decision at the first day of the global climate talks here, COP29 have officially adopted the new operational standards for a mechanism of the Paris Agreement under Article 6, setting the stage for a global carbon market.