London/Baku/Washington | A deal to launch multibillion-dollar carbon markets governed by UN rules on emissions has been agreed at the COP29 climate summit, as countries attempt to show the fight against climate change will persist despite last week’s election of Donald Trump.
In the first symbolic negotiating breakthrough, the COP29 presidency pushed successfully on Monday (Tuesday AEDT) for countries to adopt rules on a global market for trading instruments representing carbon emissions.