Carbon markets: who wants what at COP28?

When it comes to carbon markets, various parties and negotiating coalitions have different interests. Within the specific portion of the Paris Agreement related to carbon trading (its Article 6), negotiators at COP28 are haggling over what seems like technicalities related to accounting and bureaucratic infrastructure – but these are actually key factors determining whether and how carbon market transactions can even occur. We explain the crucial aspects of Article 6 that the world’s climate diplomats are currently trying to agree on, why they matter, and who wants what.