COP29 agrees deal to kick-start global carbon credit trading

Activists shout slogans during a protest action at the COP29 United Nations climate change conference, in Baku, Azerbaijan November 23, 2024. REUTERS/Maxim Shemetov

BAKU (Reuters) - Countries agreed a deal at the COP29 climate conference on Saturday on rules for a global market to buy and sell carbon credits that proponents say will mobilise billions of dollars into new projects to help fight global warming.

The agreement, clinched roughly a decade after international talks on forming the market began, hinged on how to ensure credibility in the system so it can reliably lead to reductions in greenhouse gas emissions driving climate change.