A debate on 5 May in the European Parliament Environment Committee showed there is interest in using international carbon credits as a flexibility measure towards reaching the EU’s 2040 climate target. The discussion in Europe reflects a broader shift toward the application of carbon credits to achieve decarbonization goals on the part of governments, where, in recent years, private sector entities have been the main actors in that space on a voluntary basis. Several European countries have introduced initiatives involving use of international carbon credits, highlighting the increasing overlap among carbon crediting structures: the so-called Voluntary Carbon Market, the aviation emission offsetting program CORSIA, and cooperative emission-cutting among Parties to the Paris Agreement under its Article 6 all share various attributes and increasingly have standards in common as well as some of the credits themselves. The extent to which this convergence continues will depend on the degree to which mandatory government-run emission reduction programs like the EU ETS involve international carbon credits.