Harnessing Carbon Trading: A Catalyst for Global Climate Conventions

Abstract

In the landscape of international accords addressing climate change, carbon trading is crucial. In order to aid the reduction of greenhouse gas emissions, this practise entails the exchange of emissions allowances or credits between nations and other organizations. This article examines the mutually beneficial relationship between carbon trading and international agreements, emphasizing how mechanisms like emissions trading and Clean Development Mechanism (CDM) projects, contained in conventions like the Kyoto Protocol and the Paris Agreement, have encouraged international cooperation in the fight against climate change. Carbon trading emerges as dynamic mechanism driving emission reductions while promoting sustainable development on a global scale through the convergence of market-based initiatives and international agreements.