COP26 agreed rules on trading carbon emissions – but they're fatally flawed

By Matthew Paterson, Professor of International Politics, University of Manchester

One surprise from COP26 – the latest UN climate change conference in Glasgow – was an agreement between world leaders on a new set of rules for regulating carbon markets. This would allow countries to trade the right to emit greenhouse gases.

Carbon trading is part of how countries intend to meet their obligations for reducing emissions under the Paris Agreement. Unfortunately, the manner in which countries agreed these rules may hobble the Agreement in its goal of averting catastrophic warming.

Carbon markets were central to the design of the Paris Agreement’s predecessor,…

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