This decision, taken during extra time at the COP29 conference, is a major step forward in a debate that has dragged through climate talks for years, and diplomats broke into applause when the decision was gavelled.
Supporters say a UN-backed framework for carbon trading could direct investment to developing nations where many credits are generated.
Critics fear that if set up poorly, these schemes could undermine the world's efforts to curb global warming.
An Lambrechts Greenpeace from said the agreement delivered "carbon markets with loopholes and a lack of integrity" that would allow fossil-fuel companies to keep polluting.
Reuben Manokara of WWF said the final text was "a compromise" and though not perfect it provided "a degree of clarity that has long been absent" from global efforts to regulate carbon trading.
Carbon credits are generated by activities that reduce or avoid planet-heating greenhouse gas emissions, such as planting trees, protecting existing carbon sinks or replacing polluting coal with clean-energy alternatives.
Until now, these credits have mainly been traded by companies on an unregulated market dogged by scandal.
But the 2015 Paris climate deal envisaged that countries could also take part in a cross-border trade of carbon reductions.
Diese Geschichte stammt aus der November 25, 2024-Ausgabe von Hindustan Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 25, 2024-Ausgabe von Hindustan Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
WANNA UNWIND? HEAD TO JLN THIS WEEKEND & LET THE MUSIC PLAY!
HT City Unwind, India's biggest food and music festival, is back in Delhi with a curated line-up that's simply stellar
INDIAN CRAFT MEETS ITALIAN FLAIR: DIVIANA DEBUTS IN MILAN WITH A STARRY AFFAIR
In the prestigious Montenapoleone Fashion District of Milan, where luxury whispers through every cobblestone, DIVIANA has carved a niche as one of India's foremost luxury furniture brands.
Hanumankind joins A$AP Rocky on stage during Thailand concert
Rapper Hanumankind, the viral sensation from Kerala, recently performed on stage with rapper A$AP Rocky in Pattaya, Thailand.
Aditya: Emmy nom was enough, a win would.be cherry on top
It's heartening to see your work get recognised on such an international platform. But the biggest validation comes from the audience.
WEDDING BELLS FOR TAMANNAAH AND VIJAY? 'KYUN NAHIN?', SHE SAYS
The actor-couple is likely to take the plunge in 2025; Bhatia says she would continue to act even after marriage’
India sizzle in sun, Australia scorched
Opener Jaiswal’s 161 and Kohli’s 30th Test century followed by the hosts’ batting tumble leave India eyeing a win in Perth
UN rules for carbon trading between nations approved
New rules allowing wealthy polluting countries to buy carbon-cutting \"offsets\" from developing nations were agreed at UN climate talks on Saturday, a move already raising fears they will be used to greenwash climate targets.
Earth bids farewell to its temporary 'mini moon'
Planet Earth is parting company with an asteroid that's been tagging along as a \"mini moon\" for the past two months.
Cops feted for rescuing 104 trafficked children
Delhi Police head constables Seema Devi and Suman Hooda were felicitated on Sunday with the inaugural Times Now Heroes award for helping rescue 104 trafficked children in nine months across three states and reuniting them with their families.
There's dearth of will to address climate crisis
The climate summit, COP29, in Baku, has ended. It lays bare the fundamental inequity and the lack of willingness of the developed world to acknowledge its role in climate change.
